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Category: MORTGAGE TYPE
MORTGAGE TYPE
Adverse mortgages – what are they and who are they for?
An adverse mortgage in the UK is a type of mortgage specifically designed for individuals with a history of adverse credit. These mortgages cater to borrowers who have struggled with credit issues, such as missed payments, defaults, County Court Judgments (CCJs), bankruptcies, or Individual Voluntary Arrangements (IVAs). Due to the increased risk posed by these… Read more
List of lenders who offer commercial mortgages
Here is a list of some UK lenders who specialize in commercial mortgages: 1. Barclays 2. HSBC 3. NatWest 4. Lloyds Bank 5. Santander 6. Shawbrook Bank 7. Aldermore 8. Handelsbanken 9. Together Money 10. Paragon Bank 11. Cambridge & Counties Bank 12. HSBC Kinetic 13. Investec 14. Octopus Real Estate 15. LendInvest These lenders… Read more
Semi-commercial mortgages explained
In the UK’s complex property market, financing can often be a challenge, especially when the property in question doesn’t fit neatly into either a residential or purely commercial category. This is where a semi-commercial mortgage comes into play. This type of mortgage is specifically designed for properties that have both residential and commercial elements. What… Read more
The good and bad of currency mortgages
Currency mortgages, also known as foreign currency mortgages or FX mortgages, are a type of mortgage where the loan is denominated in a currency other than the borrower’s home currency. In the UK, currency mortgages are typically associated with borrowing in a foreign currency, such as euros or US dollars, to purchase a property. Here’s… Read more
Self build mortgages explained
A self-build mortgage in the UK is a type of home loan designed specifically for individuals who are constructing their own property, rather than buying an existing one. These mortgages cater to the unique needs and risks associated with self-building projects, where funds are typically released in stages as the build progresses, rather than as… Read more
Second charge mortgages – the advantages and disadvantages
In the context of UK mortgages, a second charge refers to a type of secured loan that is taken out against a property that already has an existing mortgage. The second charge loan is subordinate to the first (or primary) mortgage, meaning that if the borrower defaults and the property is sold to repay debts,… Read more
Consumer Buy To Let
In the UK mortgage market, “Consumer Buy-to-Let” (CBTL) refers to a specific category of buy-to-let (BTL) mortgages that are regulated differently compared to standard buy-to-let mortgages. The distinction primarily relates to the borrower’s intention and circumstances under which the property is being rented out. Definition and Criteria A Consumer Buy-to-Let mortgage is designed for landlords… Read more
Capped rate mortgages – what you need to know
A capped rate mortgage in the UK is a type of mortgage product that combines elements of both fixed-rate and variable-rate mortgages. With a capped rate mortgage, the interest rate fluctuates in line with the lender’s standard variable rate (SVR), but there is a limit, or cap, on how high the interest rate can rise… Read more
Tracker mortgages – all you need to know
Tracker mortgages are a popular type of mortgage product in the UK, offering borrowers the opportunity to benefit from changes in the Bank of England’s base rate. This comprehensive guide aims to provide a detailed overview of tracker mortgages, including how they work, their features, benefits, considerations, and their suitability for different types of borrowers… Read more
Understanding Equity Release : What It Is and How It Works
As the population ages, many homeowners in the UK are looking for ways to access the wealth tied up in their property to fund their retirement or other financial needs. Equity release is one such solution, allowing homeowners to unlock the value of their home without the need to sell or move. This article explores… Read more