Whether you’re looking to buy your first home or you’re a homeowner and your existing mortgage deal is coming to an end, Money Matters can help with mortgage advice and guidance.
Our mortgage advisers have over 50 years combined experience of helping clients to either buy or remortgage their home. We are specialists in the following:
- First Time Buyers
- Home movers
- Product switches
- Buy to let mortgages
We are Independent which means we can access deals across the whole of the mortgage market. We use state of the art software to find out clients the best deals available to them. We can also arrange all associated insurance and protection products, which we also search the whole of the market for.
There are many different types of mortgage available and the right one for you will depend on your circumstances. So, why choose Money Matters:
- No costs incurred by you for us to research the market and find you a mortgage deal
- Independent with access to the whole of the market
- Experienced advisers
- Family-run business who put our clients first
- In-depth knowledge of mortgage lenders and their criteria
The right mortgage for you will be dependent on your circumstances and to an extent your attitude to movements of interest rates. We’ve detailed the types of mortgage below:
This is where the interest rate is fixed for a specified period of time (2, 3, 5, 10 years) and at the end of the fixed rate period, the mortgage will usually revert to the lenders standard variable rate. This type of mortgage offers a guarantee that your monthly payment will remain the same for the fixed rate period, so if there are any interest rises during that period, they will not affect the amount you pay. That is a real positive, but on the other hand, if interest rates drop, you won’t benefit from that drop.
This type of mortgage is where the interest rate moves up and down with the base rate (most lenders usually go by the Bank of England base rate). The main benefit of this type of mortgage is that falling interest rates will reflect on your monthly payment. The down side is that if interest rates rise, then so will your monthly payments.
This type of mortgage is where the interest rate is reduced by a set percentage for a specified period of time. The main advantage of a discounted rate is that if/when the lenders variable rate drops, this is reflected in the monthly payment as it will also drop. As you would expect, if rates rise, then so will monthly payments.
This type of mortgage works alongside your current account and any savings accounts that you have with the same lender as the mortgage. The interest is calculated on the balance after the assets (savings etc) are deducted from the mortgage amount.
Standard Variable Rate
The standard variable rate is the normal interest rate charged by each lender. It is usually the interest rate that mortgages will revert to once the initial deal has come to an end.
All of our advisers are qualified, highly skilled and experienced in dealing with residential, buy to let and difficult mortgages.