Residential Mortgages

Specialist Mortgage Advice

At Approachable Finance we’re here to guide you through what can prove to be the time-consuming and complicated process of buying a house. We take pride in offering an 'approachable' service and always take time to understand our clients’ personal circumstances, such as income, outgoings and savings, before advising on a mortgage strategy.

residential mortgages

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Unlike many of our competitors we refuse to work off a 'panel' of providers and instead are proud to count ourselves truly independent in the advice we give. We are not owned by any banks or favour any lender over another.

  • Help To Buy
  • Types of Mortgages

Buy Your Own Home

The Government created the Help to Buy scheme to help UK residents buy their own home or move up the property ladder. Help to Buy makes it possible to buy a new-build or existing home priced up to £600,000 with as little as a 5% deposit.

Help to Buy: Equity Loan

Available for New Build Homes in the UK

With a Help to Buy: equity loan the Government lends up to 20% of the cost of a new-build home, leaving a 5% cash deposit and a 75% mortgage to make up the rest. Additionally there are no loan fees on the 20% loan for the first five years of home ownership.

Help to Buy: Mortgage Guarantee

Available for new build and existing homes in the UK

Under the mortgage guarantee scheme the Government offers lenders the option to purchase a guarantee on mortgage loans. This means that mortgage lenders taking part are able to offer home buyers a higher loan-to-value mortgage (80-95%). Owners are still fully responsible for the mortgage repayments.

Help Choosing the Right Mortgage

Choosing the right mortgage to suit your financial circumstances can be a tricky process. We’re here to help explain the pros and cons of the various mortgages on offer:

  • Fixed-rate Mortgage: You pay a fixed rate of interest for a set period typically over two, three or five years.
  • Standard Variable-Rate Mortgage: Linked to the Bank of England rate changes, though changes may not happen to your mortgage rate at the same time or by the same amount.
  • Tracker-rate Mortgage: Usually linked to the Bank of England bank rate
  • Offset Mortgage: Links a current or savings account to a mortgage and the amount in these accounts is offset against an outstanding mortgage
  • Discount Mortgage: If the mortgage lender’s standard variable rate (SVR) increases or decreases, repayments are discounted to reflect this.

For more information about your mortgage options, please contact us.

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