Types of Mortgages
Find exactly the right mortgage for you with a free mortgage consultation
Ascot Mortgages Ltd is a leading, experienced mortgage broker and we want to help you to understand the different types of mortgages available.
We understand that taking out a residential mortgage is one of the most important financial decisions you will take in your lifetime and we understand how daunting it feels in the tough economic climate we are in today. There are so many mortgages available, different rates, different features, different fees etc., Ascot Mortgages will take the time to cut through all of these to secure exactly the right mortgage for your own unique personal circumstances.
- Honest and reliable mortgage advice
- Free initial financial advice
- Simple, fast, hassle-free service
- We will search across the market for you
Experts in finding precisely the best residential mortgage for you
We are experts in finding precisely the best mortgage for every single customer. By finding the best mortgage first time you can save thousands of pounds over the length of your mortgage. Whether you have a house and a mortgage already and you are looking to reduce your monthly payments or lower your interest rate – You can be certain Ascot Mortgages will find the best remortgage deal including great rates on 70% LTV remortgages for you (including many mortgage deals not available directly to the public). Alternatively you could be a first time buyer looking for that first mortgage with a high loan-to-value mortgage.
First time buyers
With so many deals to choose from, finding the right first time buyer mortgage can be confusing. However, as a first time buyer you can enjoy some great money-saving offers, with extras and incentives from cash back to 3 year fixed rates. Ascot Mortgages can find the right mortgage for you. Our service is impartial and brings you the best mortgages from the whole of market. We currently have access to over a hundred high LTV mortgages for first time buyers with a deposit of 10% or less.
Which type of first time buyer mortgage?
As a first time buyer, you have lots of questions about how to get a mortgage and which type suits you best. For example, should you choose a fixed rate, a discount, capped or tracker mortgage?
We can help you understand the difference between various offers, and help you secure a mortgage that fits your circumstances. Here are some of the main mortgage types and ways to repay that you might want to consider:
- Fixed – pay a set rate of interest for an agreed period
- Tracker – your interest rate tracks the Bank of England base rate and can rise or fall
- Discounted – offers a small discount on the lender’s standard variable interest rate
- Capped – your interest rate won’t rise above an agreed level for a set period of time
- Current Account – combine a bank account with a mortgage, allowing you to make overpayments and receive daily interest changes
- Offset – hold all of your borrowings and savings with the same lender
Many First Time Buyers require a High LTV Mortgage – These are mortgages purposefully designed for first time buyers who have a low deposit – for more information on our low deposit mortgages please click: 90% LTV Mortgage.
Special first time buyer mortgages
Getting on the property ladder is becoming increasingly more difficult. There are several types of agreements tailor-made for first time buyers. Options include shared ownership, guarantor arrangements or shared ownership. Getting on the property ladder is becoming increasingly more difficult. There are several types of agreements tailor-made for first time buyers. Options include shared ownership, guarantor arrangements and the governments own Right to Buy Mortgage Scheme, which was relaunched in 2012.
Home mover mortgages
With so many home mover deals to choose from, finding the right home mover mortgage can be confusing. However, with a whole of market choice, Ascot Mortgages can find the best deal from hundreds of different types of home mover mortgages. Our impartial service will source the best deal for you.
What do you need to consider as a Home Mover?
Moving home can be a stressful experience, not least when trying to understand how it will affect your mortgage arrangements. You may want to switch mortgage provider, move to a bigger house and increase your loan amount, or downsize and lower your monthly repayments. It’s important to find out how much your house is worth so that you can know what you are able to spend on a new home. Many companies offer a range of home mover services as part of their mortgage deals.
Home mover and other mortgage services
New home mover mortgages can be arranged with companies throughout the UK. You can also find a range of mortgage types, including first time buyers, buy to let, capital raising, debt consolidation, shared ownership and marital splits.
More and more UK homeowners are remortgaging to save money on their monthly repayments, so why not spend 5 minutes to see how much you could save? A remortgage is simply switching lender or finding a better deal with your existing lender which could significantly cut your monthly outgoings.
With many lenders’ Standard Variable Rates (SVRs) currently at historic lows, more and more borrowers have elected to stay where they are rather than remortgage to an alternative lender with a more expensive rate. However, some lenders have already increased their SVRs, so they may not be as competitive as you think they are. Also, as the best fixed rates have fallen recently and with the economic outlook as uncertain as ever, it could be the right time to consider protecting your mortgage against future rises in interest rates.