An interest only mortgage is one where your repayments are made against the interest of the loan. This should result in low monthly repayments . You should be aware that once you’ve cleared all the outstanding interest at the end of the mortgage period, you will still need to settle the original capital amount. To get the best Interest only mortgage deals - apply now! |
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Shared ownership mortgage – Is this the best mortgage for me? |
| If you’re keen to get on the property ladder perhaps you should consider a shared ownership mortgage. This mortgage is where you enter a shared ownership scheme which is normally run by a housing association. This allows you to own up to 50% of a property with the remainder owned by the association. You will only make repayments that are proportionate to the amount of the property you own. The advantage of this method is that even if you begin with a small share in the property you can increase your percentage over time. If this mortgage product appeals to you, complete our online application now! Its quick and its easy. |
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100% mortgage – Why choose a 100% mortgage? |
| This type of mortgage allows you to borrow the total value of the property you wish to purchase without the need to provide a deposit. Different lenders havedifferent approaches to this kind of product. There are those lenders that will consider offering you a 105% mortgage which exceeds the value of the property. However the majority of lenders will adhere to lending you a 100% mortgage. If there is no way for you to raise a deposit, then this is a mortgage you should think about. To see the best 100% mortgages click here now. |
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Right to buy mortgage – Is this the best mortgage for me? |
| If you own a council property you may wish to consider a right to buy mortgage. This mortgage will enable you to join a scheme where you become eligible to purchase your council property at a discount price. The longer you have resided at your address the larger the discount.So if you are currently living in a council property and have a CCJ or other types of bad credit we can still assist you to find the best mortgage product. |
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Commercial Mortgages – The best mortgage for commercial uses? |
Commercial loans are designed for those borrowers who wish to purchase properties for business purposes. These mortgages normally have very high interest rates. Typically, a commercial mortgage term ranges from five years to thirty years. A lender will retain the legal ownership of the commercial property until the borrower has repaid the loan in full. However, you will not find that obtaining this type of mortgage will be as straightforward as applying for a normal residential mortgage.
Save On Bills will help you to find the best commercial mortgage deal. Use our unique comparison service to help you to navigate the commercial mortgage marketplace. |
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Equity - Understanding equity release? |
| If you are seeking to raise cash from your property and you are of retirement age you could opt for an equity release. The amount of equity in a property is dependent on how much collateral your property has acquired over a period of time. This system helps you to release that collateral in the form of a cash lump sum. |
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Home reversion Scheme |
| A popular method of releasing equity is the home reversion scheme. The companies involved in this scheme will offer you a cash payment for for part ownership of your property. You will be able to use the cash whilst remaining in your property. If the property is sold for after your passing, the home reversion company can lay claim to a percentage of the proceeds. |
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Mortgage and Roll-up plan |
| You can also release equity by borrowing money from a finance company against aproportion of the value of the property this is also referred to as a mortgage and roll-up plan. This method allows you to make interest repayments direct to the lender. The loan will be repaid once the property is sold after you have passed away. |
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Home Income Plan |
Another method of releasing equity is via a home income plan. However, this type of equity release ensures that you receive cash in the form of regular income payments.
With so many forms of equity release Save On Bills is on hand to ensure that you find the most appropriate package. On the completion of our simple online form we will conduct a search of the equity release marketplace. Find the best equity deals now! |
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Other factors to consider when switching mortgages. |
| When you choose to change your existing mortgage you should always check the current terms and conditions to see whether you will incur an exit fee. You should also check whether your new provider will charge you for setting up a new mortgage. Don’t just select the first mortgage product that offers you a great cash back deal. Always carefully consider all the available options. |
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Switching made easier |
| Save On Bills can help make it easier for you to cope with the process of switching mortgages. The speed with which you can switch mortgages is dependant upon how quickly your current mortgage lender closes your account and how long it takes your new lender to open a new account. Save On Bills provides the easiest way for you to find the most suitable mortgage deal. |
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