Remortgaging is where you swap your existing mortgage for a new mortgage, with the aim of getting a more favourable deal to suit your needs/circumstances. You can either stay with your current lender or switch to a different lender. Remortgaging is a popular option for homeowners with a fixed rate mortgage whose introductory term is about to expire and they don’t want to be placed on their lender’s standard variable rate (which tends to be far less competitive). Remortgaging can also grant you more flexibility in how you pay your mortgage, which is useful if your financial circumstances change.
✓ First-Time Buyers
A first-time buyer is an individual (or couple) who is buying a house and doesn’t own, or hasn’t previously owned, a residential property. Did you know that first-time buyers get access to help other that other home buyers don’t, such as Stamp Duty relief and Help to Buy schemes? Stepping onto the property ladder for the first time can be daunting, but Huxley are here to help guide you through the process.
✓ Moving Home
When moving home, you can either transfer (or “port”) your existing mortgage to your new house, or you can remortgage — perhaps to borrow more money or get a better. Just like when you originally took out your mortgage, it’s crucial that you crunch the numbers to make sure that your decision makes financial sense — you don’t want to miss out on a more competitive deal that may be out there or be stung by early repayment fees.
✓ Buy-to-Let Mortgages
A buy-to-let mortgage is a specific mortgage for landlords who purchase property with the intent of renting it out to tenants. They’re similar to conventional mortgages but they have a number of key differences, including higher lender fees, the interest rates you’ll be offered and the deposit required.
✓ Commercial Mortgages
If you’re buying a non-residential property, such as an office, shop or restaurant, you’ll need what’s called a commercial mortgage. There are a number of key differences between commercial mortgages and traditional residential mortgages, which our financial experts are happy to explain as we help you find the right deal for your business.
✓ Self-Employed Mortgages
Contrary to popular opinion, self-employed individuals can secure a mortgage just like everybody else. The main difference is that you’ll need to provide more thorough financial information. As a general rule, you’ll need to provide your lender with proof of your income for the past two years. Whether you’re a sole trader, a partner or director, we can guide you through the process while helping to secure the best self-employed mortgage for your situation.
✓ Contractor Mortgages
Just like with self-employed people, being a contractor doesn’t hinder your chances if securing a mortgage. In fact, there are mortgage deals and lenders out there that cater specifically to the circumstances of contract workers. Whether you’re a fixed-term contractor, an umbrella company employee or zero-hour contract worker, Huxley are here to help.
✓ Adverse Credit Mortgages
Whether you have CCJs, defaults or have even been declared bankrupt, it’s still possible for you to secure a mortgage with bad credit. You may not be offered the same competitive rates as applicants with a clean credit history, but finding a willing lender is much easier if you use the services of a specialist whole-of-market mortgage broker like Huxley.
✓ Mortgage Protection
Being unable to pay your mortgage and potentially losing your home is the worst nightmare for any homeowner. This is where mortgage protection comes in. It’s an insurance policy that covers your mortgage payments in the event of an unfortunate event, such as redundancy, illness or, worse, death. Mortgage protection isn’t a legal requirement, but it’s definitely worth considering.