Mortgages and Mortgage Advice

Buying your own home or a commercial property via a mortgage can be, without doubt, one of life's most stressful experiences. Since the credit crunch, the mortgage landscape has changed for anyone now wanting a mortgage. But what has not changed are the two main types of mortgage available.

Repayment Mortgage

This means that you repay your mortgage over an agreed period of time. The repayment consists of part interest and part of the capital borrowed. It is the only method of mortgage to ensure the debt is fully repaid at the end of the mortgage term, providing all repayments are paid in full and you meet the required payments on time.

Interest Only Mortage

This means that you meet the interest payments only with the outstanding capital normally being paid at the end of the mortgage term. It is your responsibility that you have the means to repay the capital at the end of your mortgage term.

Each type of mortgage arrangement has advantages and disadvantages and both types of mortgages can be mixed together. Your main consideration is do you want the assurance of being mortgage-free at the end of the agreed term or would you rather accept lower payments by meeting the interest payments only while accepting the fact that you will have to meet the outstanding capital at some future stage?

Which Mortgage is right for you?

Ashbourne Independent Financial Solutions can provide advice and guidance to all, whether you are a first-time buyer, buying your next property or are looking at re-mortgaging.

There are many mortgage options to consider, including fixed rate, discounted, tracker, cash-back, flexible or standard variable rate deals. Every day new deals come to the mortgage market and choosing the right one for you can be difficult as well as time consuming. We are here to help and will research the whole mortgage market, not just those offered by your bank or building society. We do the shopping around for you to find the best and most suitable mortgage for you.

We work with you and recommend a suitable solution and ensure you have all the relevant information to make a decision before you make any applications.

Contact Ashbourne Independent Financial Solutions for an initial, no-cost, obligation-free discussion when more can be explained about our services and how we can help you >>>

'WARNING: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. SOME TYPES OF MORTGAGE ARE CONSIDERED AS NON-REGULATED ACTIVITIES AND ARE THEREFORE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.'

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