Mortgage News

When you have an existing mortgage and then opt for a new mortgage using the same property as collateral then this is termed as a remortgage. This is normally done to save money by choosing a new lender who offers lower interest rates. Another major reason for this is to raise capital or consolidate smaller […]

Tracker mortgages are unique and charge a rate of interest in accordance with the base rate set by the Bank of England. The actual tracker mortgage rate would be a few percentages higher than the base rate. The simple definition of base rate is the cost the bank pays to buy money. It varies with […]

Shared ownership mortgages are best for people who cannot afford to buy a home single handily. This government scheme is specially designed for first time buyers who struggle to get a foothold on the property ladder. Shared ownership mortgage – how does it work? In this case, the buyers can split their purchase and form […]

An Offset Mortgage is a loan that allows you to use your savings to cut down the mortgage costs. To facilitate the finances, you can club your savings account with your mortgage. The money in your account would be counted as an overpayment for the mortgage. However, this would just be a temporary arrangement and […]

Mortgage interest rates – the basis of repayments Mortgages normally come with an additional cost which is nothing but the interest you pay on the amount borrowed. When you already have a big loan like a mortgage, the interest can become really heavy and often pile up thousands of pounds on the amount you need […]

We all know that mortgages can be paid in these two ways – interest only and repayments. Again, it is a well known fact that interest only mortgages are best for cheaper monthly repayments however, they are not the safest bet and many loan experts may advise you not to choose them. In case, you […]