The biggest purchase you are ever likely to make is your home and for most of us, to do so we need to take out a mortgage.
But the range of mortgages can be daunting. There are tracker mortgages, interest only, fixed term, variable rate, capped rate … and that’s before you even get started on the number of mortgage providers, whose different products seem to change almost daily.
You think you’ve found the perfect mortgage for you, but blink and it’s gone!
Finding the right mortgage
There are broadly two types, and each have their advantages and disadvantages. There are fixed mortgages, which give you the certainty of knowing each month what you will be repaying and which protect you from interest fluctuations. But the downside is you are tied in, and if you exit you’ll face an ECR – early redemption charge.
Then there are variable mortgages, which give you the benefit of lower repayments in times of low interest rates. But if the interest rate rises, so does your repayment. At Hartsfield, we have an experience team of mortgage advisers who will help look at the huge range of options, and providers, and recommend the ones that best suit you.
If your circumstances are viewed, in the mortgage world at least, as not completely as straight-forward – for example, if you are a contractor, self-employed, heading towards retirement, or a company director – there will be options for you, and we can track them down.
We will look at your level of income in relation to your expenditure and help you work out exactly what you can afford. And we will talk to you about what protection you need to put in place to ensure repayments can be met should your circumstances change.
Then we can take on the burden of all the paperwork, liaising between you and the lender, so that your elusive, perfect mortgage offer doesn’t slip through your fingers.
Whether you are seeking a new mortgage, or whether you are remortgaging, get in touch with the team at Hartsfield to see how we can help.
TAXATION OF PROPERTY
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