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How We Will Help You with Your Mortgage

Whether you are purchasing a new home or looking to invest into the property market or remortgaging, whatever your route may be, the UK mortgage market is one of the most complex in the world. There are thousands of mortgage products to choose from. As an independent mortgage broker, Fairview Financial has access to products from the high street banks, building societies as well as broker-only exclusive products.






EXPERIENCED MORTGAGE ADVISERS

Mortgages come in many shapes and sizes, here are some examples:

First time buyer mortgages
Help to Buy mortgages
• Shared Ownership mortgages
• Self employed mortgages
Buy to let mortgages
• Limited Business mortgages
• Consumer and Business buy to let mortgages
Let to Buy mortgages
Residential remortgages
Adverse credit mortgages
• Debt consolidation remortgages
• Raising equity remortgages
• Homemover mortgages
• Product transfer mortgages

Fairview Financial has experience in all of these areas and will liaise with the mortgage provider, the estate agents, the solicitors and the surveyor to ensure the process is as smooth as possible. We will answer any queries you have regarding the mortgage by drawing on our experience & knowledge, both of which we are keen to share with our clients.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.


MORTGAGE REPAYMENT OPTIONS

At its most basic level, a mortgage is split into two elements – the loan (the money you borrow) and the interest (the charge made by the lender until the loan is all paid back). One of the main decisions you will make via Fairview Financial will be how you pay back the loan you borrow, the term of the mortgage and how you pay the interest on it. You can 1.) pay interest + the loan each month (a repayment mortgage) or 2.) just pay the interest each month and pay all the loan off at the end of the mortgage term (an interest only mortgage).

A repayment mortgage is the most widely available and provided you maintain the required payments, you also have the certainty that your mortgage will be repaid at the end of the term. Meanwhile, if you only pay the interest, you may find yourself stuck later on with a mortgage and no way of paying it off. Here is a breakdown of your two main options:

With a capital repayment mortgage, your monthly payments pay off the interest due each month plus a little of the loan you owe. With this type of mortgage, you have the benefit of seeing your outstanding mortgage balance start to reduce over time. Once the mortgage comes to an end, you’ll have paid off everything you owe in full and have nothing left to pay.
With an interest only mortgage, your monthly payments only pay the interest on the amount you’ve borrowed; you do not actually pay off the loan balance. An interest only mortgage is higher risk than a repayment mortgage and you will need to source an acceptable investment or savings plan to repay the mortgage. Interest only mortgages are very rare these days as lenders see them as far riskier.







TYPES OF INITIAL Mortgage Rates

When you apply for a mortgage, Fairview FInancial will help you choose from several different types of deals. Most lenders offer a range of options on their mortgages. The main interest rate options are:

Fairview Financial can review your current mortgage at no cost. We have access to thousands of remortgage deals.

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