Mortgage Advice

Map - Financial Solutions Nottingham - Mortgage Advice

Not only do you need to consider which mortgage is best for you, you need to think about which interest rate options are most likely to suit your needs. Map Independent Financial Solution will help you make the right choice when it come to applying for a Mortgage.

Remortgages

When you remortgage, you are switching your mortgage to another deal, and frequently, another lender.

Remortgages can be used for various reasons. Most people simply switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender; therefore you could get a discount, or a lower APR, with another lender. Other individuals may use a re-mortgage to consolidate their debts.

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Self Certification Mortgages

A self certification mortgage is a mortgage in which you are able to declare your income without showing substantial proof that you earn it. There are many instances where a self certification mortgage would be beneficial.

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Adverse Credit Mortgages

When it comes to buying a home, some lenders can take on a rather sanctimonious attitude. They want to deal only with those who have faultless credit histories, perfect work records and adequate deposits. But money problems can affect everyone. Adverse credit problems can be linked to a loan default, county court judgements or being a discharged bankrupt.

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Equity Release Schemes

(This is a form of Lifetime Mortgage, to understand the features and risks please ask for a personalized illustration. )

What is a lifetime mortgage?

Lifetime mortgages are a popular means for homeowners over 55 to unlock some of the value in their homes. Thousands of people in the UK already choose this method to supplement their retirement income..........

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Current Account Mortgages

With a Current Account Mortgage (CAM), you run all of your finances through a single account - your mortgage, current account, savings and personal loans . ......

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Self Build Mortgages

The main difference between a self build mortgage and a house purchase mortgage is that with a self build mortgage money is released in stages as the build progresses rather than as a single amount.

Some lenders will lend you money to purchase land, typically 75% of the purchase price or value, whichever is lowest.

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Flexible Mortgages

A flexible mortgage is a product that can make the traditional British mortgage with its fixed and inflexible payment schedule over a fixed term, such as 25 years, look like a bit of a dinosaur.

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Your property may be repossessed if you do not keep up repayments on your mortgage.

You can choose how we are paid for mortgages; pay a fee, usually 0.5% of the loan amount or we can accept commission from the lender.

The Financial Services Authority (FSA) does not regulate some forms of buy to let mortgage.

This article (Mortgage Advice) is intended to provide a general appreciation of the topic and it is not advice. Guidance should be sought from a specialist who is qualified to advise in your specific circumstances.

For more information on this aspect of "mortgage information", please contact MAP Financial Solutions Ltd on 0115 9677232 or email us at info@mapifa.co.uk. We will be happy to assist you.