THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME AS MORTGAGES ARE SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

BE SIMPLY SMART AND GET THE BEST MORTGAGE DEAL

Squashed Bills advises that everyone needs to be simply smart when looking at the latest mortgage options on the market.

Mortgage deals change on a daily basis and you’ll need to look into the finer details of the deal. A deal may look cheap on first glance but always look at the long term, also pay attention to any fees and penalties that may apply.

A  mortgage for most people is the most expensive purchase they will ever make. As a mortgage is a secured lending arrangement whereby a purchaser obtains finance by offering their property as security for the loan, it is therefore essential that the best mortgage deals available at the time in question are considered.

The are six main types of mortgages available and these are:

Buy – Purchase

There are 2 ways of purchasing your property repayment or interest only.  

A repayment mortgage: – is made of the interest and capital towards paying of the balance, if you keep up the repayments you are guaranteed to have paid off the mortgage at the end of the term.

An interest only mortgage: – the payment you make is just contributed towards the interest so you are not paying of the capital you owe.

Buy to Let

A buy to let mortgage enables and individual or entity to purchase a rental property with a loan secured on the property.

When borrowers are looking to make money and generate a long term investment on property a buy to let mortgage is the option. The buy to let market can be lucrative to the borrower and lender but there is also a lot of risks as there is no certainty about house prices so you need to be smart with your buy to let options…………

Re-mortgage

A remortgage is a replacement loan taken out by the borrower and is secured on the same property.

Borrowers look to remortgage for several reasons, it can be that their fixed rate deal is ending they may also be on a poor deal. They may want to generate some money for possible improvements such as a house extension.

Remortgaging can involve looking at lots of lenders and options to find the best deal, so you’ll need to box smart on picking the best option for you.

Council right to buy

A council tenant who has lived in their council property for two or more years currently has the right to buy their council property.

A tenant who has lived in the property for two or more years may also be eligible for a discount on the purchase of the property. Any discount is based on the amount of years they have been a tenant of the council in the same property.

Equity Mortgages

An equity release scheme allows borrowers to have access to their equity which is in the property. 

There are two types of equity release schemes and these are Home Income Plans and Home Reversion Plans both have ways of releasing equity in property.

Commercial Mortgage

Commercial Mortgages are loans secured on land that will not be used for residential property 

Commercial Mortgages are used for purchasing any property used for business purposes including shops, pub, factories offices and warehouses.

Should you be considering in applying for a new mortgage deal now or in the future, then please fill out the form above and a Squashed Bills representative will be in touch to discuss your requirements further in the strictest of confidence.

• Dr Squash Mortgage Quotes :

              a house is bricks and mortar – a home is a life’s story 

              a first time buyer – needs to deposit a nest egg