Is this the best time to remortgage?

Is this the best time to remortgage? Well it depends on your individual circumstances and equity in your property. The best deals on the market are for those with 35-40% equity. Rates starting from 1.45% with the RBS. Arrangement Fees play a role and many of the lowest product rates come with high fees attached…

Capped Rate Mortgage

A capped rate mortgage is a variable interest rate, but the mortgage lender will guarantee the rate does not rise above a certain level. The capped rate mortgage suits those who want to benefit of any reductions and protect themselves from any increases. Its and ideal product for all but capped rate mortgages are usually…

Offset Mortgage Advice

An Offset mortgage combines the borrower’s mortgage account with their savings/current account. All payments into the current/savings account can reduce the amount outstanding and the interest payable. The funds in the savings/current account offset the borrowings in the mortgage account. Alternatively a Current Account Mortgage has one single account, which is the equivalent to a…

Life Insurance

Life Insurance protects your family and mortgage with a single lump sum if you die during the plan term. Your loved ones will get a guaranteed lump sum paid out if you die during the period of the cover. Most people have life insurance to cover financial responsibility such as: Personal debt Dependant (children) care…

Bank of England Base Rate

The Bank of England Base Rate is set by the Monetary Policy Committee (MPC) and is normally reviewed monthly. The MPC consists of economists and bankers and will take account a range of economic factors before deciding. You maybe on a Lifetime tracker mortgage or standard tracker mortgage for a specific period. We don’t expect…

Remortgage Advice

A remortgage, is also known as refinancing. The remortgage process involves obtaining a new mortgage to pay off the existing mortgage on the same property. Many clients remortgage for various reasons, such as: Acquiring a better rate from another lender Changing the mortgage term or loan amount. Raising capital Consolidating debt Remortgages are determined by…

Critical Illness Insurance

It is expected one in three people are diagnosed with some form of cancer during their lifetime (Source: info.cancerresearchuk.org). The good news is serious illnesses may not prove fatal due to medical advances over the years. However, they can still have a major impact on your life especially if you have credit commitments. One of…

Mortgage Term Advice

Mortgages are traditionally taken out for a 25 year period. There is no reason for this. The mortgage should be affordable and fully paid before they retire. Many mortgage lenders now offer longer terms, providing the borrower is able to explain sufficient funds to pay the mortgage beyond the expected retirement age. Some mortgage lenders…

Income Protection

Income protection is an insurance policy paying benefits to the policyholder who is unable to work due to an illness or accident. The policy pays out weekly or monthly. The amount of cover required is based on an approximate level of spending for an individual or family. The state provides a very low benefit; therefore…

Early Repayment Charges

An early repayment charge is also known as a ‘redemption charge.’ This charge applies when the borrower wishes to redeem their mortgage within the scheme period. Early repayment charges must be taken into consideration at start of an mortgage application. A Keyfacts Illustration and mortgage offer will demonstrate this. Applicants whom are remortgaging or selling…