Stress Free Mortgages

Jane, in this block please provide a general description of Adverse Mortgages.

Jane, in this block please go into a bit more detail, how they work etc.

Jane, in this block please provide any cautionery, or side notes.

Wheter you are a first-time buyer, looking to sell up and move on, purchase a second home or even re-mortgage - no matter what your circumstances - Top House can help. And to make things even easier, we will not only liase with your chosen mortgage provider, but also with your solicitor and estate agent.

Our aim...to make your transaction as stress-free as possible. 

There are so many different types of  mortgages on the market it can be a minefield trying to determine which is best, so let us guide you through the various options out there.

This varies from lender to lender; each with their own standard variable rate (SVR) that can be set at whatever level they want and change by any amount at any given time - especially if there are rumours of the Bank Of England base rate increasing in the future.

In November 2020, the average interest rate on a 2 year fixed mortgage was 2.53%, while the average SVR was 4.44% - meaning repayments on a SVR mortgage could be far more expensive.

An SVR is higher than most mortgage deals currently on the market, so if you're currently on a SVR, it's definitley worth shopping around for a new mortgage.

A capped rate mortgage moves in line with the lenders standard variable rate (SVR), but being capped means the rate wont increase above a certain level.

An offset mortgage is where you have savings and a mortgage with the same lender and your cash savings are used to reduce – or 'offset' – the amount of mortgage interest you're charged. 

Without an employer to vouch for your income, being self-employed means you’ll need to pass the lender’s affordability tests in the same way as any other borrower by providing additional evidence of your income than other borrowers.

So how do Bridging Loans work? Read the blog post.

Remortgaging is when you take out an additional or different mortgage on a property you already own. For example, you may remortgage when your current mortgage deal is about to come to an end to see if you can find a better rate or more suitable product, or you may remortgage to fund some improvements to your home.

Remortgaging is something we should all think of regularly to make sure we are still on the best mortgage deal.