Independent Mortgage Advice

Providing Independent Mortgage Advice throughout, Teesside and the North East for over 25 years, we have the experience to make a difference and to help you chose the best mortgage possible.

As Independent Advisers, we are not restricted to a particular lender when advising you. We can draw on information from the whole marketplace, which can change on a daily basis.

There has also never been a more important time to take independent advice on your mortgage than now. In the current 'Credit Crunch' climate, you cannot simply rely upon your existing High Street Lender to provide you with the best mortgage available. It is also vital to fully understand the terms of the product you are applying for and therefore our role is not just to find you the 'cheapest' product, but to find you the most suitable, and for the best price. This is something you do not get on price comparison websites or through call centres.

For most people, choosing the right mortgage will be one of the most important financial decisions they ever make. That's why our clients trust us to assist them year after year.

No matter what your circumstances, we will endeavour to find a mortgage to suit you.

Residential Mortgages

A mortgage can be taken out against a property you wish to purchase or a property you own that you wish to raise money against. We can facilitate all mortgage types and advise with an independent view from the whole mortgage market.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice, the precise amount of the fee will depend upon your circumstances but we estimate that it will be £500

'Buy to Let' & Commercial Mortgages

If you intend to buy a property for renting then you will need a buy to let mortgage. The buy to let mortgage will normally be secured against the property to be let. Typically, you'll need to pay a deposit of around 25% of the value of the property.

The amount you can borrow is strongly linked to the amount of rental income you might expect to receive. Normally, the lender will require you to be receiving more rental income per month than your mortgage payment costs you. How much more is required is defined in the lenders criteria.

The Financial Services Authority does not regulate commercial mortgages and some aspects of buy-to-let mortgages.

This is to allow surplus rent to cover other costs such as maintenance to the property and periods when there are no tenants living in the property.

Your property may be repossessed if you do not keep up repayments on your mortgage.

The Financial Services Authority does not regulate commercial mortgages and some aspects of buy-to-let mortgages.

Remortgages

Whether it is a remortgage to obtain a better rate of interest, remortgaging onto a fixed interest rate product or remortgaging to raise additional capital against your home, we can offer independent advice from the whole of the mortgage market, ensuring our clients have the best and most suitable product.

• Fee free remortgages
• Free legal services
• Free valuation
• No arrangement fees

Debt Consolidation

As the name implies, a debt consolidation loan entails procuring one new loan in which to pay off several smaller ones. While some may not see the purpose in doing so, there are a great many reasons why a debt consolidation loan will be a smart move for many that are not currently thrilled with their debt situation.

You can gain a lower interest rate than one you are currently paying. In many instances, it is high interest rates that can prevent you from paying off your loans. Transferring your debt to a lower interest rate loan can have a tremendous impact on your ability to pay off your debt.

Paying one monthly minimum payment is a lot better than having to pay several. Taking a debt consolidation loans results in only having one payment to make. This can leave you with more liquidity for your monthly budget.

Consolidating your short term commitments onto a mortgage of usually a longer term can reduce your monthly outgoings in the short term, however, you will be end up paying interest on the debt for a lot longer, therefore paying more interest overall.

The actual rate available will depend upon your circumstances. Ask for a personalised illustration. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Deposits, Equity & Loan to Value

Deposit means the amount of money you personally have to put towards the property value or purchase price. Mortgages are available to applicants with a variety of deposits. Depending on market conditions it may be possible to obtain a 100% mortgage therefore requiring no deposit; however the more deposit you have will determine the interest rate that is charged. You will be charged more by lenders if you have less deposit.

We have access to the whole market and offer independent advice on all mortgage products, varying deposits and interest rates.

You retain ownership of your home and can continue to live there until you die or go into long-term care.

Equity is the difference between the value of your home and any outstanding mortgage you currently have.

The loan-to-value (LTV) expresses the amount of a mortgage as a percentage of the total value of your property. For instance, if a borrower wants £150,000 to purchase a house worth £250,000, the LTV is 60%.

Our Mortgage Calculators below offer a free and simple way of finding out how much a mortgage may cost:

Repayment Mortgage Calculator...

Interest Only Mortgage Calculator...

Repayment v Interest Only Mortgage Calculator...

Investment Mortgage Calculator...

Please pick up the phone and speak to one of our team about how we can help further. We would be delighted to hear from you.

Email: mortgages@activefinancialservices.co.uk Phone: 0845 555 0 888

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