Types of Mortgage

Get a decision in minutes. All circumstances considered. Click here for your free mortgage quotation online

Here we explain three of the most popular mortgage types.

• Capped rate mortgages
• Fixed rate mortgages
• Flexible rate mortgages

Capped rate mortgages

Capped rate mortgages set a maximum interest rate figure that you will pay, over an agreed period. This period varies according to the particular lender and deal on offer.

Should interest rates rise substantially beyond the figure agreed, you need not worry as you will only pay at the capped figure. And should interest rates fall, you receive the benefit by paying at the prevailing rate only if it is below your capped rate.

For borrowers it provides a reasonable safety net whilst allowing them to benefit in the good times when interest rates are low.

Interest rates on a capped rate mortgage may not be as low as those on a fixed rate mortgage, although as mortgage deals are changing on a daily basis it pays to look at both options and pick the one that's best for your particular circumstances.

If you complete our online enquiry form we will look at all of the mortgage deals you are eligible for and present you with a range of options to choose from.

We can offer mortgages to all types of applicant, including those with credit problems such as ccjs, arrears, defaults etc. We can also help the self employed with or without accounts or with no proof of income.

Fixed rate mortgages

A fixed rate mortgage allows you to fix the rate of interest you pay over a set period, usually 1 - 5 years. This protects you against increases in mortgage rates, as your mortgage repayments remain fixed regardless of the prevailing economic climate.

Once the fixed period you are tied into ends, it is usually possible to renegotiate with many lenders a further fixed rate or a different product that suits your needs.

The downside of fixing your rate is that you do not benefit from reductions in interest rates. You need to think about the current economic climate and research whether interest rates are likely to rise or fall during the period of your mortgage to make sure you get the best deal.

You might want to consider one of our capped rate mortgages as an alternative which offers a degree of protection by capping the maximum rate, but allows you to benefit once the prevailing rate falls below your capped figure.

Mortgage deals are changing on a daily basis so it pays to get us to search for the best package on your behalf.

We can offer you fixed rate mortgages regardless of your circumstances and credit problems. So if you have county court judgements (ccjs), decrees, arrears or defaults - give us a try.

Flexible mortgages

Flexible mortgages have been designed to suit peoples modern lifestyles.

With a flexible mortgage borrowers can take payment holidays, pay more or less each month, take extra money for an emergency or home improvements, and much more, depending on the lender and the particular flexible mortgage product.

There are a wealth of different options available - that's why it makes sense to use a mortgage broker. We do the hard work for you by getting the best mortgage deal for your particular circumstances.

Want to pay off your mortgage early? By making overpayments each month you could slash the length of time until your mortgage is completely paid off. As little as £100 extra each month might cut up to 9 years from your repayments.

We can help you if you have good credit or if you have had credit problems such as ccjs or arrears in the past, or are self employed with no proof of income.

Why not contact us for a quotation? - you are under no obligation and you may be surprised at the rates we can get for you.

Click here for your free mortgage quotation online