Mortgages

The choice of different types of mortgage has never been greater, and the market is very competitive. If you’re a first time buyer or moving house, please take mortgage advice. Mortgages have been regulated by the FSA since 1st November 2004; a major change for some advisers, but as an appointed representative of Burns-Anderson Ltd, we’ve been authorised by the FSA for many years and have fully qualified advisers for mortgage advice.

The important choices for borrowers are, firstly, whether to have an Interest Only Mortgage or a Capital Repayment and, secondly which type of interest rate to select from, including the following:

• Discounted Variable rate
• Fixed rate (2, 3, 5, or 10 years)
• Tracker rate (follows the Bank of England’s base rate)
• Capped rate
• Standard variable rate with cash back
• Variable rate with offset facility.

Consider too the various fees that may be charged: a Reservation fee, valuation fee, and possibly, a Completion fee. There’s also a varying scale of redemption charges. These things are often more important than the headline interest rate.

Re-mortgaging can be a good option too. You might make substantial savings on your monthly mortgage costs. Review your arrangements every few years and ensure that you’re not paying too much interest.

We provide an individual service with advice catering for your specific needs and have knowledge built up over many years of which lenders are likely to lend you what you require, whether you are newly employed, self employed or need a loan that is higher than usual.

Talk to us. We can move you in the right direction.

Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The precise amount will depend on your circumstances but we estimate it will not be more than £500.