Mortgages
Buying your dream home is likely to be the most important financial commitment of your life. There are many mortgage products to choose from like deciding which type of mortgage you would like to go for, be it Fixed, Variable, Discounted, Capped, Uncapped or a Cash-back Mortgage. In addition, the interest rates you pay will vary from product to product. Also, with some mortgage products the banks will offer you a low interest rate however, they will charge you for an arrangement fee whilst other mortgage products may have a higher interest rate but have a free or low arrangement fee.
At Harbour Mortgage Solutions we strive to search the market for you, going through all the options and giving you the full story including the costs that are involved such as valuation and booking fees that the lender may charge for buying a fixed or capped rate, and whether or not the lenders charge any redemption penalties. Therefore, we are able to find for you the best mortgage product to suit your needs which will save you money over the term of the mortgage.
Mortgage Types
Fixed Rate Mortgage
Standard Variable Rate
Capped Rate Mortgage
The interest rate you pay will stay the same throughout the length of the deal no matter what happens to interest rates. You’ll see them advertised as ‘two-year fix’ or ‘five-year fix’, for example, along with the interest rate charged for that period.
Capped Rate Mortgage
Standard Variable Rate
Capped Rate Mortgage
With a Capped Rate your mortgage payment won't go above a certain level, but because they are a kind of variable rate, they also let you benefit from lower payments when rates go down.
Standard Variable Rate
Standard Variable Rate
Standard Variable Rate
This is the normal interest rate your mortgage lender charges homebuyers and it will last as long as your mortgage or until you take out another mortgage deal. Changes in the interest rate may occur after a rise or fall in the base rate set by the Bank of England.
Buy To Let Mortgage
Interest Only Mortgage
Standard Variable Rate
A buy To Let mortgage is a loan for purchasing or refinancing residential property which is let to tenants rather than lived in by the borrower.
Repayment Mortgage
Interest Only Mortgage
Interest Only Mortgage
Repayment Mortgages are the more traditional and popular type of mortgage today due to the cautious attitude that people have when it comes to risk and protecting their home and rightly so.
Interest Only Mortgage
Interest Only Mortgage
Interest Only Mortgage
These are more of a risk than your standard repayment mortgage. The monthly payment to the lender is lower, as you are only paying the interest on the loan. With an interest only mortgage none of the capital is paid off therefore the loan amount never decreases.
Let To Buy Mortgage
Let To Buy Mortgage
Let To Buy Mortgage
Let-to-buy is where a mortgage borrower keeps hold of their existing home and rents it out to tenants, and then buys a new home for themselves and their family to live in.