Looking for a new home? Your three options.
It often makes sense to get a new mortgage if you want to borrow extra money or if the rates are better. Or a necessity if your current provider doesn't allow porting.
Remortgage your current home
Raise cash on your existing home by remortgaging and renting it out. Then use these funds to purchase a new property (outright or as a deposit). It's a popular choice as you don't need to wait to sell the property.
Port your existing mortgage
If your existing lender allows porting, it might make sense to transfer it to the new home. By doing this, you may avoid early repayment charges.
In this guide:
The ideal mortgage
- Why use a mortgage advisor
Residential mortgages provide essential credit to millions of consumers, within the UK, and make it much easier for individuals or families purchase a home. This type of mortgage is typically long term and requires an upfront deposit, which is normally around 10-30% of the loan value.
The ideal mortgage
The ideal mortgage product for you is not necessarily straightforward choice; as products differ depending on loan to value (LTV), interest payments, mortgage term, repayment type, etc. Furthermore, these mortgages are secured against your home and if payments are not met, your home will be at risk.
Why use a mortgage advisor?
Using a specialist mortgage advisor ensures the most appropriate mortgage product is acquired. With Manor Mortgages Direct, it is a simple process. Talk to us about what you want to achieve and let us do the legwork.
Whether it be a Fixed, Tracker or Offset mortgage, with a 2, 3 or 5 year term, and with repayment capital and interest, interest only or part and part with a term of 20, 25, 30 or 35 years. We then compare all these different options with over 20 Banks and Building Societies, and provide you with a summary of what's available.