Mortgages and later-life lending
We look at lenders' criteria for your circumstances before you apply, and review your mortgage when your fixed rate ends.
We look at lenders' criteria for your circumstances before you apply, and review your mortgage when your fixed rate ends.
Lenders differ in whom they will lend to and on what terms.
Some mortgage applications involve a hard credit search, which can be recorded on your credit file. We can help identify lenders whose criteria may be more appropriate before an application is submitted.
When your fixed rate ends we look at your mortgage again, and may recommend staying with your lender or moving. If your fixed or other introductory rate ends and you do not switch or refinance, you may move onto your lender's standard variable rate or another applicable rate. This may result in higher monthly payments.
Releasing capital from your home can clear debts, help children onto the property ladder or fund a more comfortable retirement, without selling or moving out. How much you can take depends on your age and the value of the property.
What you should understand first is how the interest rolls up over the years, what that leaves for the people who inherit, and what the alternatives are, including downsizing, a retirement interest-only mortgage, or doing nothing. You get all of it in writing with the numbers attached.
We look at income, commitments, deposit, credit history and your plans, and give you a realistic figure before you apply.
A detailed search of the suitable products available, then the options and a recommendation, comparing what each one costs over the deal period.
We submit it, answer the lender's questions and keep you informed.
A mortgage may be the largest commitment you take on. We will raise cover for it, and you are free to say no.
Your home may be repossessed if you do not keep up repayments on your mortgage. Some forms of buy-to-let and commercial mortgage are not regulated by the Financial Conduct Authority.
Around six months before. Starting early leaves time to compare what is available and to get an application in before your current rate ends.
You will be told before you commit. Mortgage advice may be paid for by a fee, by commission from the lender, or a combination, and you get the figure in pounds either way along with what it buys.
It depends on income, existing commitments, credit history, the deposit and the lender's own criteria, which vary considerably between lenders.
Yes. Lenders treat self-employment very differently: some want two years of accounts, some three, some will use retained profits and some will not.
No. UK lenders do not generally require it and a lender cannot insist you buy insurance from them. Lenders generally require buildings insurance, because it protects the property the loan is secured against.
Interest rolls up on the loan and reduces what you leave behind. Check the alternatives first. The full answer.
Interest on a lifetime mortgage rolls up unless you pay it. The debt reduces your estate and can affect means-tested benefits.
Read more →Buying a first home, remortgaging when a deal ends and buying a property to let each come with their own lending tests and their own property tax.
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Mortgage Adviser
Your first call is with an Account Manager and is at no cost to you. Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write.