Mortgages

Your mortgage is probably the largest financial transaction and commitment you are likely to undertake. Surely then you should seek free mortgage advice which is individually tailored to your needs and requirements?

We are not tied to any lender, which means that we act entirely on your behalf and represent your best interests in order to establish the most appropriate mortgage quotes for you.

There are so many types of mortgages available that it is easy to become confused, possibly opting for the product offering the lowest headline rate of interest. But when booking and arrangement fees, conditional insurances, higher lending charge premiums, lock-ins and early repayment charges are taken into account the products may not be as attractive as they first appear.

Our mortgage advisors will be pleased to contact you to discuss your enquiry, source the products on your behalf, answer any queries you may have and provide you with as many mortgage quotes that you may require.

Salary Multiples

Most mortgage lenders will offer you between three and a half to five times your gross salaries. Some lenders will offer you more but you will pay a higher rate of interest. If you’re buying with a spouse, partner or friend they’ll add on the amount of his or her annual salary in addition to the amount they’re prepared to lend you, lower multiple of your joint salaries. Some mortgage lenders will also take in to account additional income from bonuses or commission, Investment income, large town allowance, maintenance payments, car allowance and state benefits.

Deposits

Most mortgage lenders require a 5% deposit on purchase of a new property, for the best mortgage rates 10% would be better. If you would like more information on these types of mortgages please speak to one of our mortgage advisors today. The larger the deposit you put down, the more lenders will offer at better rates of interest.

Other costs

Please be aware of the associated costs in purchasing your new home. The main costs associated with buying your new home will be a valuation fee charged by the lender, legal fees, and stamp duty.

Stamp Duty

Stamp duty is payable to the treasury whenever you buy a house valued at over £175,000. It’s a tax you pay for the privilege of buying your own home!

It works on a sliding scale like this:

If the value of the property is under £175,000 no stamp duty is payable. Between £175,001 and £250,000 you pay 1% of the purchase price not the mortgage amount. On properties between £250,001 and £500,000 pay 3 % and if you are purchasing above £500,001 stamp duty is payable at 4%.

Mortgage Advice

We specialise in all types of mortgages and remortgages, arranging a mortgage or remortgage can be difficult at the best of times. Here at Harbourside Financial we take the stress out of arranging a new mortgage or remortgage for you, not only do we find you a competitive rate but we liaise between valuer’s, solicitors and the new lender on your behalf, so you can get on with your life knowing we are doing all the work for you. We can also help you when others have said no, please see are bad credit mortgage page.

Click on the contact us box and enter your details for your free mortgage consultation today, or call 01179618892 lines open 9am - 7pm Monday to Saturday and speak to a mortgage broker now.

All our mortgage advisors are regulated by the FSA and are CeMAP qualified.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Harbourside Financial Ltd is directly authorised and regulated by the Financial Services Authority FSA No: 501208. We also provide advice on non-regulated products which are not authorised and regulated by the FSA.