Mortgages

There are few things more daunting in life than finding the right home. Whether you are buying your first place or you are moving to a new property, finding the right mortgage has never been more difficult.

That’s why at Sibbalds we pride ourselves on giving clients a helping hand throughout the whole process and ensuring that you are kept involved from the beginning right through to picking up the keys to your new home.

What exactly is a mortgage?

A mortgage is a loan to buy your home. You borrow money and pay it back with interest over the term you have agreed with the bank or building society.

As an Independent Financial adviser, Sibbalds have access to over 100 lenders as well as an exclusive range of products that cannot be found on the high street or on the internet that is tailored to you and your family's own special requirements.

The loan is secured against your home so if for any reason you can’t repay it, the lender can sell your home to get its money back.

How much can you borrow?

The amount you can borrow is dictated by your earnings, however this amount will be reduced by any loans/credit cards that you have.

How to repay your mortgage

You can choose to repay your mortgage in the following ways:

Repayment – your monthly payment is split between paying off the loan and paying off the interest you owe on the loan.
Interest-only – your monthly payment pays only the interest charges on your loan, and you must arrange some other way to repay the loan
A combination of the two.

What are the different interest rate deals available?

Fixed – Your payments are the same for a certain period, typically anything from 2 to 10 years, after this period your interest rates reverts to the lenders standard variable rate.
Tracker – With this variable rate loan the interest rate is a set amount above or below the Bank of England rate and so always ‘tracks’ changes in that rate. At the end of the deal period the lender usually charges you its standard variable rate.
Discounted – Your payments are variable but they are set at less than the lenders standard variable rate for a period of time. At the end of this period the lender usually charges you its standard variable rate.

There are other factors that will influence our recommendation including:

Fees
Early repayment charges
Ability to overpay/underpay or take payment holidays
Your credit history
Amount of deposit available

No matter what your requirements, at Sibbalds we shall be pleased to help in any of the following areas:

First Time Buyer
Right to Buy
Arrears / County Court Judgements or bankrupt
Self Employed
Self Certification / No Proof of income
Debt Consolidation
Home Improvement Loans
Shared Ownership
Buy to Let

There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £399.

THE OVERALL COST FOR COMPARISON IS 5.9% APR TYPICAL. THE ACTUAL RATE AVAILABLE WILL DEPEND UPON YOUR CIRCUMSTANCES, ASK FOR A PERSONALISED ILLUSTRATION.

So rather than trawling down the high street or surfing the internet why not give Sibbalds a call today and let us find the right mortgage for you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.