Mortgages
MAP will guide you through the mortgage maze.
There are many different types of mortgages available on the market. Trying to find the right one to fit your circumstances can therefore be a daunting task, and this can only be made worse when considering the stress if you are moving home too.
The first and most important step is to decide what type of mortgage is needed:
Standard Residential
To purchase a new home to live in
Buy To Let
To purchase a home to rent out to someone else
Remortgage
To replace your existing mortgage with another, normally to get a lower, more favourable rate to pay
Further Advance
To borrow more money on top of your existing mortgage for home improvements or to pay off other debt.
If you are looking for information and advice on equity release, to get money out of your property, click here.
This narrows down the products which can be considered. Thereafter, finances need to be looked at in very close detail, as that determines whether or not a mortgage will be offered, and on what terms.
Mortgage lenders scrutinise every aspect of applicant’s finances. They need to be comfortable lending to people with sufficient income (to ensure monthly payments are affordable), savings and investments (to ensure ‘failsafe’ money is available), and outgoings (to ensure money is not ‘disappearing’ elsewhere).
This therefore makes things more awkward for some people, but it’s not all bad. Some lenders have incentives to make themselves more appealing to potential customers, whilst special ‘deals’ are available for right to buy cases or first time buyers. All in all, it is a maze you can easily get lost in.
Add to this the stress and difficulty of dealing with existing lenders (if remortgaging or undertaking debt consolidation), estate agents and removal firms (if moving), solicitors and surveyors; it can get too much for some people. Help is therefore needed to organise as many aspects as possible.
No matter your mortgage requirements, MAP can help. So whether you are looking to purchase your first property or move to a new one, transfer to a new mortgage or rate to reduce your monthly expenditure, or purchase a property for investment, we have access to the whole market to find the best deal available to you.
We are adept at searching the entire mortgage market to find the best deals available to you. We can then take care of as much paperwork and deal with as many third parties as you want or need us to.
Thereafter, we will regularly review your mortgage to ensure you are on the best possible monthly rate. We will also be on hand to advise on overpayments, payment holidays and any other changes in circumstances which could affect your mortgage in any way.
For more information, click on the most suitable link:
Buy-to-Let Mortgages
Mortgage Protection
Equity Release
There will be a fee for mortgage advice based on case complexity:
- Standard residential mortgages are subject to a charge of 0.5% of the loan amount involved, subject to a minimum fee of £195 and a maximum fee of £1,000.
- Adverse credit lending is subject to a charge of 1% of the loan amount involved, subject to a minimum fee of £595 and a maximum fee of £2,000.
The Financial Conduct Authority does not regulate most Buy to Let Mortgages.