MORTGAGE AND INSURANCE SERVICES

Independent Mortgage Advisers

MORTGAGES

The best mortgage for you will depend on your circumstances, future plans and whether you’re choosing to live in, or rent out, the property.

A mortgage is a long-term agreement. It’s important to take time to think about what you want, and how much you’ll be able to afford.

As independent mortgage advisers, we source mortgages from the whole of the available market, which means that you should never miss out on a deal which is either cheaper or more suitable for your circumstances. Note that some ‘direct-only’ deals are only available if you apply directly to the lender.

We will handle the paperwork for your mortgage application and follow up with the lender to make sure all deadlines are met.

We will guide you about the processes and time frames to expect with your mortgage and the legal work.

We can help you with questions or concerns you may have from solicitors, surveyors, estate agents.

We can speak to estate agents to keep them up to speed with the case. This can be useful if there are delays or problems. By keeping them up to speed with everything and knowing you have a broker working with.

LIST OF MORTGAES WE CAN HELP YOU WITH:

First Time Buyers
New Build
Remortgages
Product transfers
Moving Home
Buy To Let (including portfolio landlords)
Self Employed
Contractors
Shared Ownership
Bad Credit
Right To Buy
First Homes Scheme
Second charge- referral basis only
Further Advance
Offset mortgages
Guarantor mortgages
Interest only
Bridging loans- referral basis only
Large loan mortgages
Commercial and semi-commercial- referral basis only

Getting a Decision in Principle

A Decision in Principle gives you a clear idea of how much you might be able to borrow from us. It's the first key step in the mortgage process.

TYPES OF MORTGAGES AND REPAYMENT OPTIONS

FIXED RATE MORTGAGES fix your mortgage repayments until an agreed date, no matter what happens to interest rates.
TRACKER RATE MORTGAGES are a type of variable rate mortgage. They follow the Bank of England base rate during a specified period, so your repayments can vary - go up or down.
CAPITAL REPAYMENT means that each month you'll pay off some of what you've borrowed and some of the interest on the loan. If you keep your repayments up to date, at the end of the mortgage term you'll have paid off your mortgage.
INTEREST-ONLY repayment means that, you’re only paying the interest on what you’ve borrowed. You’ll be responsible for repaying the original amount you borrowed at the end of the mortgage term.
DISCOUNT MORTGAGES -track the mortgage lender’s standard variable rate, so if the SVR goes up or down, so does your mortgage interest rate. So even if the Bank of England base rate remains the same, your mortgage could become more expensive if your lender decides to increase its SVR.
SHARED OWNERSHIP- If you can’t quite afford the mortgage on 100% of a home, shared ownership offers you the chance to buy a percentage of the property and pay rent on the remaining share.
SELF-EMPLOYED/ CONTRACTOR MORTGAGES- If you are a sole trader, contractor, run a limited company or partnership, we can assist you in finding the right mortgage to suit your circumstances.
MORTGAGES FOR DIRECTORS- If you’re a director who draws both a salary and takes dividends, we can find the most appropriate mortgage rate to suit your circumstances.
SECOND CHARGE MORTGAGES- Second charge mortgages are loans secured on your home and can offer an alternative to remortgaging.
OFFSET MORTGAGES-by linking your mortgage to your savings, you can use your savings balance to reduce the amount of interest charged on your mortgage.
GUARANTOR MORTGAGES -generally available to first-time buyers looking to take their first step on the property ladder, a mortgage with a guarantor (generally a parent) can be a useful method of purchase. A guarantor must be prepared to maintain the entire mortgage should the first applicant fail to maintain the payments.
RIGHT TO BUY- this scheme allows most council tenants to buy their council home at a discount.
BRIDGING LOAN- if you have found your new home, but haven’t sold your current property, a bridging loan is a good short-term funding option.
PORTFOLIO LENDING-if you have four or more properties, lenders will put you in the ‘portfolio lending’ category and will assess all your properties based on affordability and rent.
BAD CREDIT- if you’ve defaulted on mortgage payments or other credit arrangements, have CCJs or a low credit rating, getting a mortgage may be difficult, but it’s not impossible.
BUY TO LET MORTGAGES (BTL)- many buy-to-let mortgages are taken out on an interest-only basis. This means your monthly payment only covers the interest charged on your loan, so the amount you owe doesn’t reduce over time. Rental income may help cover your monthly mortgage payments; however, you’ll need to be able to repay your mortgage at the end of the mortgage term. Alternatively, you may decide to take out a buy-to-let mortgage on a capital repayment basis. With this option, your monthly payments cover the interest charged on your loan each month, as well as a repayment of some of the capital. This means that your mortgage will be fully paid off at the end of the mortgage term if you keep up with the monthly payments. Interest rates and mortgage fees tend to be higher for buy-to-let mortgages than for residential mortgages. You’ll also need to continue to make your monthly payments during ‘voids’. Voids are periods when the property is empty because you can’t find a tenant, or you need to carry out maintenance. Mortgage lenders will take these factors into account when deciding whether to lend to you.

There are other costs to consider when buying a property to let, such as:

- survey fees, stamp duty and conveyancing fees
- renovation costs to make the property safe and secure before you let.
- letting agent fees
- landlord insurance to help protect you and your investment.
- ongoing maintenance and repair costs

Commercial Mortgages and some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

YOUR HOME (OR PROPERTY)MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

INSURANCES

LIFE COVER

Life Cover offers financial peace of mind to your loved ones, paying a lump sum if you were to die or be diagnosed with a terminal illness – or a critical illness if you take out extra cover.

It pays out a lump sum or a monthly income to help make sure your loved ones are left with a comfortable home and lifestyle, rather than debts and financial worries.
CRITICAL ILLNESS

Critical illness provides a lump sum for you if you were to be diagnosed with one of up to 50 major critical illness conditions and surgical procedures. This may also be combined with a life cover policy. It pays out if you’re diagnosed with a critical illness, giving you valuable cash to help cope during a very traumatic and uncertain time.
INCOME PROTECTION

Income Protection pays a monthly tax-free benefit to help replace part of your loss of earnings if you were to become unable to work due to sickness or injury.
FAMILY INCOME BENEFIT

Family Income Benefit helps to secure an on-going income for your family if you die or are diagnosed with a terminal illness. With monthly pay-outs, it eases the burden of bills, making budgeting more manageable for those left behind.
HOME INSURANCE

Home insurance is a way to financially protect yourself from the cost if something were to go wrong with your home, or the things you have in it. Home insurance can include buildings cover and/or contents cover.

Buildings insurance covers the cost of repairing or rebuilding your home if it’s damaged for example, by storm, floods, fire, lightning, or subsidence – but it won’t cover you for general wear and tear.

Contents insurance covers your possessions in case they’re damaged, stolen, or lost. For example, if there was a fire, flood, or burglary at your home, it would cover the cost of replacing your belongings.

Things that could be added to the policy: Accidental damage, Legal cover, Home emergency, Personal possessions, Bicycle cover.

LET'S CONNECT

Please feel free to contact me via email with any questions you may have.

Call me on: 07394893256

BOOK AN APPOINTMENT

By submitting this data, I am consenting the use of my data in line with the privacy policy.

Office address: 4 Church View, Carterton, OX18 3HZ

MAK MORTGAGES is a trading style of Monika Karpowicz an appointed representative of The Right Mortgage Limited who are authorised and regulated by the Financial Conduct. FCA reference number is 989473. The Right Mortgage Ltd is registered in England and Wales no. 08130498. Registered Address: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH.

The information contained in this website is subject to the UK regulatory regime and is therefore intended for customers based in the UK.