Page 5 of 9 - Mortgages

Sarah Bridge

A buy to let commercial mortgage could help you expand your commercial property portfolio and allow you to let premises out for business use

Rachel Lacey

You can borrow against your current property to buy a new one through remortgaging or by taking out equity release.

Rachel Lacey

If you have taken out an equity release plan, you might worry that selling your home is not an option. Fortunately, you can still relocate or downsize.

Rachel Lacey

Switching to a new mortgage can help you release some equity from your home, providing a useful source of cash.

Rachel Lacey

You must receive equity release advice from an adviser with a specialist qualification before you’re allowed to take out any equity release plan. Finding a good equity release adviser, and knowing what to ask, is a must.

Sarah Bridge

A commercial mortgage broker can help you compare the market for commercial mortgages but are they worth the extra cost? We look at the advantages of using a commercial mortgage broker and whether it is best to go it alone.

Holly Bennett

Your monthly repayments will be lower, but you’ll pay more interest over the whole term and take longer to be mortgage-free. Here’s what to consider when deciding how long your mortgage term should be.

John Fitzsimons

The smallest deposit that you can buy a house with currently is 5%. A more common ‘low’ deposit is 10%, as borrowers have far more options if they are looking to borrow 90% of the property’s value, or LTV.

John Fitzsimons

The larger your deposit, the less you have to borrow to cover the cost of your home, which often means lower interest rates. A few schemes and options are available to help build as big of a deposit as possible.

John Fitzsimons

A high LTV means you borrow more and put down a smaller deposit. That may mean higher interest rates, higher product fees, or both.

Sarah Bridge

Are you looking to expand your business premises? A commercial mortgage will get you on the business property ladder but it’s important to know what you’re signing up to and how to compare different mortgage products.

Anthony Beachey

Exploring the alternatives to equity release is essential if you want to unlock the value stored in your home. Remortgaging, a RIO mortgage or a secured loan can all deliver funds without needing to sell up. Alternatively, downsizing might be an option if you’re happy to move elsewhere.

Anthony Beachey

Home reversion plans let you sell your home while continuing to live there rent-free. They are an equity release option for people aged over 60.

Anthony Beachey

A lifetime mortgage is an equity release scheme that allows you to access some of the wealth you have tied up in your home. With a lifetime mortgage you can receive a lump sum or regular cash payments, and carry on living in your home until you die or move into residential care.

Anthony Beachey

Equity release schemes allow homeowners aged 55 and older to release some of the equity tied up in their home. The two common types of schemes are lifetime mortgage and home reversion plans.

Tim Leonard

A gifted deposit is when parents or a close relative give you money towards a mortgage deposit with no strings attached. Lenders usually require a gifted deposit letter from the gifter to confirm you don’t need to pay the money back.

John Fitzsimons

A second charge mortgage lets you turn some of your home equity into funds you can use for a variety of reasons. If you take out a second charge mortgage, also known as a second mortgage or a homeowner loan, the amount you can borrow is limited by the amount of equity you own in your property.

John Fitzsimons

A bridging loan can act as a bridge between the sale of one property and the purchasing of another. It is a short-term option that helps bridge a gap, for example, when buying a new house before selling your old one.

John Fitzsimons

A let-to-buy mortgage allows you to buy a new home and let out your existing property to bring in extra income. It can be useful if you can’t or don’t want to sell your current home, but can be a difficult process to negotiate. Consent to let is an alternative to let to buy you might consider.

John Fitzsimons

If you want to buy a second property, a second-home mortgage should help. It works like a normal residential mortgage, but allows you to purchase a second home while you still have an existing mortgage.