Here are some of the most frequent questions we hear from our clients…
Why use Mortgage Co instead of going to my bank?
If you go straight to a lender (such as a bank), they will only advise on their own mortgage products. If you go to a mortgage broker or financial advisor, they will have information about a wider choice of mortgage lenders.
What factors determine how much I can borrow when moving to a new house?
Different lenders offer different amounts, so speaking to a mortgage professional may ensure you can get the amount you need. Factors to bare in mind are secured or unsecured credit, income type, loan to value, credit score.
How much equity can I release?
Again Different lenders offer different amounts, so speaking to a mortgage professional may ensure you can get the amount you need. It also depends on the loan to value and the reason for the additional monies you are borrowing.
I’ve come to the end of my fixed term, what happens next?
There are a number of options, you can look at what your existing lender will offer, or go onto their Standard Variable Rate, alternatively we can source other lenders, who can often offer cheaper rates.
When should I review my mortgage?
You should review your mortgage regularly, to ensure that the interest rate you are been charged fits your circumstances, if you need stability of repayments, it can be worth looking a fixed rate of interest.
Do I need to pay a solicitor when remortgaging my home if I’m not moving?
When looking at remortgaging, some lenders offer free Legal Fees, others dont, we will show you the difference to ensure you get the most suitable mortgage bespoke to your budget and circumstances.
What makes a good mortgage rate?
The best interest rate contrary to popular belief is not necessarily the cheapest rate, other factors to take into account are Product Fees, such as arrangements, valuation, legal fees. When designing a mortgage we endeavor to fit your new mortgage to match your existing circumstances.
How can I protect my finances in the event of a rate rise?
If you are concerned about interest rates increasing and your monthly mortgage rising, we can look at a fixed rate of interest, ordinarily this will be for 2/3/5 or sometimes longer, giving you stability of repayments.
Is now a good time to remortgage my home?
Fixed Rates are the lowest we have ever experienced in over 30 years of been a mortgage adviser. The Bank of England Base rate is again the lowest in 30 years so the Tracker rates are fantastic.
What are the benefits of fixed rate and standard rate?
The benefit of a fixed rate of interest is to give you stability of repayments, making budgeting easier.
What’s the process of remortgaging?
We make Remortgaging nice and easy, we arrange an appointment and design the mortgage around your circumstances, we take care of all the paper work and liase with you through the process, making it effortless.
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We have used Mortgage Co for a lot of years now, from when we bought our first house, when we moved house and lately when we needed to extend our house to make more room for our growing family. They have dealt with everything from arranging the mortgage, solicitors, surveys to ensuring our insurances are in line with our needs. We wouldn't hesitate to recommend Mortgage Co.
Mr & Mrs Crosby, Guiseley
I have used Mortgage Co for over 7 years, their professional advice on mortgages is impeccable! They are honest, moral, and ethical, they are prepared to invest time to find the most appropriate mortgage to suit my needs. I have no reservation in recommending Mortgage Co to all my friends and relatives.
Mr & Mrs Cox, Ilkley.
Mortgage Co have always ensured I get the best deal with my mortgage transfer and save me money. They also get me the best insurance deal that suits not only my needs but my family's. I will continue to use Mortgage Co in the future as they are very professional, keep in constant contact and ensure I am happy before anything is completed.
Mrs Shiel, Horsforth.