Mortgages

Whether you’re a first-time buyer or have been through the process several times before, the wide range of mortgage products and complicated lending criteria changes regularly. Many of our mortgage clients have benefited from our whole of market mortgage advice and unlimited access to all of the products available in the marketplace.

Despite the uncertainty about the economy, many of our clients still wish to improve their home or move. As well as residential mortgages, MH Wealth Management has lots of experience with buy to let mortgages, mortgages for the self-employed, and remortgages.  We cater for various types of mortgages and clients, a few can be found below.

Residential Mortgages

Standard residential mortgages are specifically for properties that home owners want as their residential home.

Re-mortgages

Many homeowners change their mortgage supplier because their fixed rate mortgage is coming to an end and by changing to another provider they may find that they can save money on their monthly payments.

Buy to Let Mortgages

Buy-to-let mortgages are specifically for properties that landlords let to tenants and are often more expensive than residential mortgages

Some buy to let mortgages are not regulated by the Financial Conduct Authority

Equity Release

You could be facing a pension shortfall or have to meet unexpected expenses or simply want to fund a retirement treat, equity release can be an attractive option. It allows you to tap into the wealth you’ve accumulated in your property without the stress of having to move.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

First Time Buyers

Buying your first home can be daunting. We can advise and make sure you’re fully aware of any support that’s available like any help to buy schemes.

Flexible Mortgages

Flexible mortgages give you greater flexibility when compared to a normal mortgage. It will be the same as a “normal mortgage” with some extra flexible features bolted on. The features and how they work will differ between providers.

Self-Build Mortgages

A self-build mortgage is a home loan taken out on a property which you are building yourself. The biggest difference between self-build mortgages and standard residential mortgages is that the funds are given to you in stages rather than as a single lump sum.

Current Account (or Offset) Mortgage

A current account mortgage (or offset mortgage) uses the balance in your everyday savings or cheque account to reduce what you owe on your mortgage on a daily basis.

The majority of the mortgages come with different repayment methods and options that can be attached.  The options selected will solely depend on your current situation, attitude to risk, needs and objectives.  Below is a very brief rundown of some of the options available.

• Repayment mortgages

Each monthly payment pays off a little of the underlying debt, as well as interest on the loan. At the end of the repayment term providing all payments have been made in full and on time the mortgage will be repaid in full.

• Interest only mortgages

With this type of mortgage, you pay-off the interest on the loan but not the capital. Then at the end of the mortgage term it is your responsibility to repay the capital.

• Investment Repayment Vehicles

You can use a number of investments to repay the loan at the end of the mortgage term (generally 20-25 years), usually alongside an interest only mortgage.  An example of an investment repayment vehicle is an endowment policy.

The value of an investment is not guaranteed and the value of your investment can go down as well as up and you may not get back the full amount invested.

• Variable, fixed and capped rates

Variable: paying the going rate on your loan goes up and down with changes in interest rates. Fixed rate: The interest rate is fixed for the period agreed. Capped rate: These are fixed, but if rates fall you pay the lower rate.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

We charge a fee for mortgage advice, our typical fee is £499.