Hot Topics

What Are The Different Ways You Can Pay Off a Mortgage?
Capital & Interest - otherwise known as a repayment loan. The borrower pays an amount each month to cover the amount borrowed and the interest charged on that.
Can I Take A Break From Making My Mortgage Repayments?
The ability to take a break from mortgage repayments is a feature of the Flexible, Current Account and Offset mortgages.
How Do I Know If I Should Switch Mortgages?
The mortgage market changes on a regular basis – and it is quite possible that just a few years after taking out your mortgage there will be plenty of better deals out there with more favourable interest rates.
Cashback Mortgages
Cashback Mortgages provide you with a lump sum of cash upon completion of the property purchase, either as a percentage of the mortgage or a fixed sum.
Commercial Mortgages
A commercial mortgage is probably the best way to finance the purchase of buildings and land for business purposes, it provides the most flexible and affordable finance solution. Commercial mortgages are specialized due to the fact that the lender has a legal claim over the property until the loan has been repaid in full.

Do I Need a Guarantor?

If your lender is concerned about your ability to meet your mortgage commitments, they may ask you to provide a Guarantor.

If you can provide someone who will promise to support you financially if you cannot meet the mortgage repayments, your mortgage lender will provide you with the advance loan. This will usually be a blood relative. The lender will then look at the income of the guarantor – and they will need to prove that they can cover any mortgage repayments of their own, in addition to yours.

If the borrower defaults, it is then the responsibility of the guarantor to keep up the repayments. The guarantor should seek independent financial advice to ensure that they fully understand the implications of this. A typical example of this would be a parent acting as a guarantor for a student buying a flat. This is also especially likely to occur if you are buying a 100% mortgage, and are unable to raise a deposit.