| Mortgages Portsmouth | Hampshire Mortgages | Mortgage Brokers
A typical example of how the process works:
- You contact Advance FS with a finance enquiry and speak to one of our fully qualified mortgage consultants
who will complete a “fact find” with you to ascertain your mortgage or financial requirements.
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Your dedicated mortgage consultant will research the whole of the market for you to find the best rates to suit your needs, saving you time and money in doing this yourself. We will contact you within 48 hours and provide you with all the details of our findings and will recommend the best deal.
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Once you have decided to proceed we can complete a decision in principle or full application with the relevant mortgage lender. This will only be done once you have given full permission.
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Your dedicated mortgage consultant will notify you of all requirements and continue to chase the lender, valuer and solicitor to ensure a swift and efficient completion for you and your property. This gives you one point of contact making it easy for you to be up to date about all aspects of your mortgage.
Types of Mortgage Rates
Fixed Rate: Guarantees the interest rate charged for an agreed period so you know exactly what your payments will be. After the period ends the rate reverts to the lender’s standard variable rate (SVR).
Standard Variable: The interest you pay is what the lender sets as its standard rate. The rate is variable so can go up as well as down.
Discounted: The lender guarantees that you will be charged a rate that is an agreed percentage below the standard variable rate for an agreed period. Your payments may vary and once the period of the rate ends you’ll revert to the standard variable rate.
Tracker: The lender guarantees the rate charged will track the Bank of England base rate by a percentage above or below that rate for an agreed period of time. Once this agreed time period is over the rate will revert back to the lender's standard variable rate.
Capped: The rate is set so that the rate you pay can’t rise above that level during the term. If the standard variable rate falls below your capped rate, your charges will also reduce.
Your home is at risk if you do not keep up repayments on your mortgage or any other loan secured against it.
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