Atrium Financial Mortgage Advice
Taking on a mortgage is likely to be one of the biggest financial commitments you make in your life. Our mortgage specialists will help you understand each and every aspect of taking on a mortgage. We work with you every step of the way to understand your needs and objectives and subsequently provide personally tailored advice based on a comprehensive range of mortgages from a wide range of lenders.
Types of mortgages – Repayment and Interest-only mortgages
Repayment mortgages are the standard type of mortgage for a residential property. These allow the borrow to make monthly payments which cover the capital and the interest over the mortgage term.
Interest-only mortgages are more common for buy-to-let properties. These allow the borrower to simply pay back the interest during the term of the mortgage and pay off the capital at the end.
Both of these mortgages can be offered as a fixed rate or variable-rate (when the mortgage tracks the base rate set by the Bank of England). Fixed-rates mortgages usually have a term for which the interest rate is fixed, after which it converts to a variable rate. Variable-rate mortgages are either standard rate (your lender’s usual offer) or discounted-rate (a special deal for the early part of the mortgage to help buyers manage better after the expenses of the move).
There are also specialist mortgages for different types of property purchases such as self-build mortgages and mortgages for unusual properties such as timber framed homes.
Such a range of choices can make the decision-making process very confusing. The good news is that quality financial advice provided by our mortgage experts can help to guide you towards making the right choice for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Buying a home
Ensuring you have the right mortgage is part of the process when purchasing your home.
Our mortgage experts can work with you to source a mortgage which is suitable for you.
First Time Buyers
If you are buying your home for the first time, it could be quite a daunting process. What is the maximum deposit you can put forward? How long does the mortgage term need to be? The different factors and mortgage deals available could make things tricky.
Our mortgage experts can help advise you on the right mortgage that is suitable for you.
Whether changing lenders at the end of your existing mortgage, changing your mortgage interest rates or for further borrowing against your home; remortgaging can be a challenging process. It is imperative for you to consider all options before making your final decision. Our mortgage experts can work with you to choose the most suitable one.
If you are thinking of building your own home, there are Self-Build mortgage options available. These types of mortgages allow easy management of the building process as the money is released in stages as the build progresses.
Buy-To-Let mortgages are usually considered suitable for investment purposes. If you are looking to buy a property and intend on letting this out instead of living in it, Buy-To-Let mortgages can help you finance for this. Some Buy-To-Let lending is not regulated by the Financial Conduct Authority.
Offset & Flexible Mortgages
There are mortgage options available where you can use your savings to offset against the mortgage balance. This ultimately reduces the interest you pay.
Flexible mortgages allows you to have the flexibility towards your monthly payments. You can take make overpayments or take payment holidays depending on your circumstances.