The mortgage market is incredibly competitive and it can be hard to understand exactly what is on offer from the many different providers to the extensive range of products and rates available. Getting help to source a mortgage is important so you can carefully study your options before making a decision.
Being a first-time home buyer can be exciting and daunting in equal measure – especially if you have to learn about mortgages too.
Put simply, a buy to let mortgage – or BTL mortgage – lets you borrow money to buy a house that you’re going to invest in and rent out.
Already have a mortgage? Want to move to a new house? Is it better to get a new loan or use your existing, increasing your debt?
A self-build mortgage is specifically designed to aid self-builders to build their own home. Funds are released in stages throughout the build.
Getting a mortgage with bad credit can be tough, especially if you have defaults, county court judgments (CCJs), individual voluntary arrangements (IVAs) or a bankruptcy in your credit history – but it's not impossible. We specialise in obtaining mortgages for customers who have bad credit, miss payments, CCJ's, Bankruptcy & More.
Our expert guidance can help you understand how to take your first step onto the property ladder and buy your first home.
The government lends you up to 20% (40% if you’re in London) of the cost of your newly built home. You pay a deposit of 5% or more and arrange a mortgage of 25% or more to make up the rest. You won’t be charged interest on the 20% loan for the first five years of owning your home.
Buy-to-let (BTL) mortgages are for landlords who want to buy property to rent it out. The rules around buy-to-let mortgages are similar to those around regular mortgages, but there are some key differences. Read on for more information about how they work, how to get one and what mistakes to avoid
It may be possible to obtain a buy-to-let mortgage under the following circumstances:
You want to invest in houses or flats.
You can afford to take and understand the risks of investing in property.
You already own your own home, whether outright or with an outstanding mortgage.
If you already have a mortgage, what happens when you want to move to another property? Is it better to get a new loan or to use your existing one, perhaps increasing the size of your debt? Let us help you explore your options.
If you’re moving house and you already have a mortgage on your current home, you might be able to transfer – or ‘port’ – your mortgage to your new property. It’s worth checking your mortgage details to find out whether your deal is in fact portable.
Even if porting your mortgage is possible, you’ll still need to reapply and go through the same affordability and credit checks you went through to get the mortgage. You may have to pay for a valuation, as well as legal fees and stamp duty.
A self-build mortgage is specifically designed to aid self-builders to build their own home. Instead of funds being released in a lump sum upon completion like a traditional mortgage, with a self-build mortgage, funds are released at key stages of the project.
Land (with the minimum of outline planning consent)
Wallplate/eaves height (just before the roof trusses go on)
Wind and watertight roof tiled
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of Buy to Lets. There will be a fee of £399 based on your criteria which is payable upon application, Choices Mortgage Centre will also be paid commission from the Lender. The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Choices Mortgage Centre Ltd trading as Choices Mortgage Centre is an Appointed Representative of HL Partnership Ltd which is authorised and regulated by the Financial Conduct Authority. FCA No. 973486