Mortgage Guide

Finding it a headache searching for the right mortgage? With so many different products on the market we realise it's a tricky business, so let us guide you through the mortgage maze.

Fixed Rate Mortgages

Want to make sure that your mortgage payments don't increase for a specified period? Then this type of mortgage could be right for you and will allow you to fix your monthly outlays at a level you can afford.

Capped Rate Mortgages

This mortgage product ensures that your interest rate climbs no higher than a specified level, usually for the first few years of the mortgage. Capped Rate mortages are similar to Fixed Rate mortgages in that they allow a degree of budget certainty.

Discounted Rate Mortgages

Looking to keep your monthly costs to an absolute minimum? Then a Discounted Rate mortgage could be for you. Often offering significant reductions in your lender’s standard interest rate for a specified period of time, lower interest rates mean lower monthly repayments.

Flexible Mortgages

Do you need flexibility to make overpayments or perhaps to borrow additional funds? Then this could be the perfect type of mortgage for you. Flexible mortgages normally track the Bank of England base rate. They allow you to either pay more than your monthly instalment and pay off the mortgage earlier or alternatively borrow more, up to an agreed level, should you need to do so.

Buy-to-Let Mortgages

Thinking of joining the thousands of people who have bought second properties to rent out and use as an investment? Then you may need a Buy-to-Let mortgage. Specifically designed for would-be landlords, Buy-to-Let mortgages allow the rental revenue of the property to be considered as income when lenders consider the ability of the buyer to meet the ongoing mortgage payments. The percentage of ‘mortgage to value’, which a lender is willing to lend, is likely to be restricted to a maximum of 80% of the value of the property.

Poor/Bad Credit Mortgages

Many people have had problems in the past with credit. Fortunately, this no longer means that you cannot buy a property or obtain a competitive mortgage deal. If you have a poor credit history or are suffering from court judgements, payment defaults, personal debt or even bankruptcy then often your options can be severely limited. We can help. With access to many of the UK's specialised lenders, the Independent Financial Centre can help you find a lender to suit your circumstances. Many lenders will even allow you switch to a more competitive mortgage product after maintaining your repayments for an agreed period of time.

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