Mortgages are something that everybody has to deal with at some point in their lives if they want to own their own home, however the realities of what a mortgage entails and how they work can be daunting for borrowers.
At Bower, our independent advisers are committed to finding the most suitable, beneficial and affordable mortgage deals for our clients to suit their needs. We search the whole market in order to obtain and compare the very best deals, presenting them to you in a way that is straight forward and easy to understand with impartial guidance and advice to help you make the right decision.
What is a mortgage?
This can seem like a simple enough question, but it is one that often people do not truly know the answer to. Everybody looking to obtain a mortgage should understand what one is and doing so is how people go on to make smart, informed decisions about their finances.
A mortgage is in simplest terms a type of loan which is provided by a bank or lender to purchase a property and is required to be paid back over time which is typically done so in the form of regular monthly payments. The specifics of various mortgages such as the cost can be vastly different and depend on the type of mortgage, the terms and the interest rate; but the main principles are the same and in order to secure the loan, the property serves as collateral.
Types of Mortgages –
Mortgages come in a wide variety of forms with differing terms, interest rates, repayment terms, eligibility criteria and of course costs. At Bower, our specialist team can provide mortgage advice on a range of mortgage products including;
It is always worth having a read about the different types of mortgages available to see what is applicable to your needs and individual circumstances. If you’d like to know more about a particular mortgage product or advice on how you can go about getting the best deal, then do not hesitate to get in touch.
Can I get a mortgage?
There are a lot of questions that those looking to obtain a mortgage often ask including – could I get a mortgage, what do I need for a mortgage and what mortgage could I get or afford? The answer to these will depend on a number of factors including your credit score, your debt to income ratio, your deposit amount, the property you are looking to buy and many other aspects that lenders will take into consideration. Every mortgage lender has their own lending criteria which means that just because you have been turned down by one lender, it does not mean that you will not be successful with another.
Before you apply for a mortgage it is always a good idea to be as prepared as possible which includes checking your credit file, working out your budget and seeking professional advice from independent experts like Bower. Our whole of market mortgage advisors have access to almost every available mortgage and able to obtain competitive rates that provide borrowers with the very best deals possible.
Professional Mortgage Services
If you need guidance and advice with your mortgage then our friendly, independent mortgage specialists are on hand to help. After we have spoken and got a clear understanding of your specific needs and circumstances, our dedicated experts will search through the available options before presenting them to you. From there we can talk through the available deals and products, answering any questions you may have to help you come to a decision that you are happy with before arranging everything on your behalf.
If you would like to find out more the contact us today and of our friendly and knowledgeable team will be happy to help in any way they can and get you on the path to finding the right mortgage deal.
What mortgages are available with Bower?
At Bower we currently deal with a wide range of mortgage types and products varying from the fairly typical to the more specialist and unique. Our dedicated team of home finance experts can help with a wide range of mortgage products including;
• First Time Buyer
• Home Move Mortgages
• Specialist Mortgages
• Fixed Rate Mortgages
• Variable Rate Mortgages
• Buy-To-Let Mortgages
• Retirement Interest-Only Mortgages
• Green Mortgages
How do I know what type of mortgage is right for me?
The answer to this question will vary depending on each individual, their unique circumstances and the kind of property they are looking to buy which can determine which type of mortgages will work best.
It is important to try to get a basic understanding of what mortgages entail including the fundamentals of those that are most relevant such as repayment / interest only or fixed rate / variable as this will help you feel more confident in your understanding and therefore your choices.
Taking out a mortgage is a big financial decision and there are a lot of different options, lenders and deals available which is why it is always advised to seek professional advice from an independent home finance specialist who will be able to help and talk through all of your options with you.
Why choose Bower?
At Bower, we strive to make sure that our clients always feel completely in control of their home finances and the decisions they are making. We go to great lengths to ensure that everything is explained clearly and in a way that is straight forward and easy to understand so that they can be confident in knowing that they have chosen a plan that is right for them.
Our award winning service ensures that our clients get the very best advice, guidance and support that they need throughout the process from the very start until completion for a completely bespoke and tailored service.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Bower Mortgages provides impartial whole of market advice with an award winning customer service experience. There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but a typical fee will be £595 on completion of the mortgage.
Bower Mortgages is a trading style of Bower Retirement Limited and is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number: 451607
Speak to one of our dedicated customer specialists or arrange your free, initial no-obligation quote by calling us on freephone 0800 411 8668.