Getting a mortgage is a huge financial step, so it’s a decision that you’ll want to get right.
Put simply: a mortgage is a loan taken out to buy a property and is secured against the value of your home until the mortgage is paid off.
When applying for a mortgage, you’ll need to:
- Prove you can cover the monthly mortgage repayments, even if interest rates were to rise or your financial circumstances change.
- Undergo a credit check with a credit reference agency to look into your financial background – this is to assess the risks of lending to you.
Remortgaging is where an existing mortgage is switched to a new deal – either with the current provider, or a different one. It’s usually used:
- When the fixed or discounted rate on the mortgage ends, and the long-term variable rate is introduced, as this tends to be higher than the rates on new mortgage deals
- To consolidate debts
- Fix monthly payments
- Reduce the interest rate on your current mortgage.
Giving back to local communities is central to the work we do. From impartial advice, to charitable donations, each member of the team shares their time, energy and resources to improve your world and go the extra mile.