Through a partnership with the Mortgage Advice Bureau, one of the UK's leading expert mortgage brokers our advisers have access to over 11000 mortgage products from over 90 lenders. Not only do we offer mortgage advice, exclusive products and exceptional service, but our highly qualified and experienced advisers are there to guide you through every step of the process.
The relationships they have with lenders, combined with the volume of mortgages that they arrange, put Mortgage Advice Bureau in a very strong position to ensure that you have access to the latest deals available and receive a first-class service.
Mortgage Advice Bureau has won over 50 awards in the last 5 years alone so we can assure you that you are in safe hands.
Why Mortgage Advice Bureau stands out:
- They have approximately 850 expert advisers located across the UK.
- They can provide face-to-face and telephone advice for our customers.
- They search thousands of mortgage deals to find the right one for our customers' circumstances and needs.
- Some of these schemes cannot be found on the high street and are exclusive to Mortgage Advice Bureau.
- They pride ourselves on our professional service, which continues throughout the lifetime of our relationship, not just when your mortgage completes.
- They provide a full range of lifestyle and income protection cover to protect you from the unexpected.
- Different type of mortgages:
Repayment mortgages, also referred to Capital & Interest Mortgages, work as any other standard loan. Each month the borrower makes a payment that includes the interest as well as little bits of the capital amount borrowed. In other words, as long as you keep up your repayments each month, the loan will slowly reduce and the full mortgage will be repaid by the end of the mortgage term. You will then own the property fully with no debt. No risk, no hassles.
With an Interest only mortgage, borrowers only have to pay off the interest on the mortgage and not the capital. In other words if you borrow £300,000 on this basis over 25 years, at the end of the 25 years you still owe £300,000!
However, the onus is upon the borrower to ensure, usually via a savings vehicle such as an ISA or other savings, that sufficient funds will be in place at the end of the mortgage term to pay off the mortgage in full. If there is no provision made, at the end of the term you will have to sell the property to pay back the loan. Although this does give a certain element of flexibility and potentially lower monthly payments, there is therefore a certain amount of risk associated with this type of product, especially if property prices fall or savings plans do not perform as expected.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
JW Wood is an appointed representative of the Mortgage Advice Bureau which are authorised and regulated by the Financial Services Authority for advising on and arranging the following: Mortgage Advice Bureau Limited for mortgages