"The universe of mortgage lending has gotten to the point where there is a place in it for everyone"
Mortgage Services
White Mortgage Advice offers you a comprehensive range of mortgage advice and services.
Whether you are looking to purchase a home as a first time buyer or a buy to let property owner, here at White Mortgage Advice we have a range of experience and qualifications to not only get the best deal but the right deal for you.
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.
*Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority*
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If you are looking for any advice or help on anything you see here please do not hesitiate to contact us on 01206 656777
What do they mean? We'll make sense of the 'jargon' and get the right solution for your needs.
Fixed Rate
A fixed-rate mortgage is a method used to repay your mortgage balance to your mortgage lender. The fixed-rate is set for a specific time meaning the rate that you have chosen will be fixed during that period, should interest rates change your rate will not be effected until the agreed term expires. Usually the interest rate on a fixed-rate option is lower that a standard variable option, which is detailed below.
Flexible rate
A flexible mortgage is a residential mortgage loan which comes with a greater degree of flexibility than the fixed-rate mortgage noted above. The flexibility you get with this type of loan may vary however you would usually be able to change your monthly payment amount, take back cash you have put in, repay early or postpone payments.
Tracker rate
A tracker rate mortgage is a type of variable rate mortgage which “tracks” a base rate – usually the Bank of England base rate. With this option your monthly mortgage payment could change from month to month.
Standard variable rate
Standard variable rate (SVR) is a type of mortgage interest rate that you are most likely to go onto after finishing an introductory fixed, tracker or discount deal. Some lenders will also let you take out a mortgage on their SVR rate straight away however this is usually the most expensive option.
Your home/property may be repossessed if you do not keep up with your repayments & You may need to pay an Early Repayment Charge to your current lender if your remortgage.
