Buying a Home –
Before you choose a speciﬁc deal, you need to decide what type of mortgage is the most appropriate for your needs.
Flexible Mortgage –
With options for overpayment and payment ‘holidays’, a ﬂexible mortgage can make the traditional 25-year British mortgage look rather old-fashioned.
First Time Buyers –
People buying their ﬁrst home often have speciﬁc needs when it comes to ﬁnding a mortgage. A range of mortgages exists speciﬁcally for this market sector.
Help to Buy –
The government has put in place a number of schemes to support house purchasers, such as Help to Buy.
Offset Mortgages –
An offset mortgage enables you to use your savings to reduce your mortgage balance and the interest you pay on it.
Remortgages – Remortgaging means switching your mortgage to another deal with another lender without moving property.
Retirement Interest-Only Mortgages – Similar to standard interest-only mortgages but the ‘retirement’ element means there is no deﬁned end date,
when the capital has to be repaid by.
Self Build Mortgages –
These are mortgages suited to people building a new home. With a self build mortgag ased in stages as the build progresses.