Leicester's Leading Mortgage Advisors

Some of the types of mortgages we can help you with

First-time buyers

There is a lot of exciting potential for first-time buyers in Leicester looking for a new home. You may have spent years scrimping and saving up your deposit and are now ready to make that first rung on the property ladder. If that applies to you, the next step is to find out how much you might be able to borrow for your mortgage to give you an indication of the type of property you can afford to buy. When you start looking for mortgages in Leicester, it is prudent to compare the best deals. If you’re new to first-time buyer mortgages, avoid the temptation to jump into the first option available to you in order that you get the best deal. Our mortgage advisors can help you with that.

Remortgaging your property

There are a number of reasons you might decide to remortgage your home including:

• Your current deal is soon to expire
• Mortgage overpayments
• Increased property value
• You are on a higher interest rate
• Releasing of equity in the property

If you need any help with remortgaging it is advisable to speak to a mortgage broker in Leicester. One of our experts at Finance Advice Centre will be able to answer any questions you have and ensure you get the best remortgage deal.

Buy-to-let mortgages

Buy-to-let mortgages are for those who intend to buy property as an investment rather than a home to reside in. If you have plans to rent out a new property, most lenders will prefer you not to finance the purchase with a residential mortgage but instead will offer you buy-to-let mortgage options.

Unlike most residential mortgages, buy-to-let are usually offered on an interest-only basis. This means that your monthly payments will only cover the interest on your mortgage and not the capital itself.

Right to Buy mortgages

If you are a tenant in property you rent from the local authority, you may be able to buy your property from your landlord at a discounted rate. The Right to Buy scheme gives qualifying tenants discounts on properties they have rented in for a number of years. The amount of discount available depends on the type of property you live in. Those living in a council house could be eligible for a 35% discount if they have been a tenant for between three and five years. After five years the discount goes up by 1% for every extra year as a tenant, up to a maximum of 70%. If renting a council-owned flat, a 50% discount could be available to those who have lived there between three and five years, and for each extra year after that, the discount rises by 2% up to a maximum 70% discount.
Commercial Mortgages
Business loans up to £25,000 are unsecured, but for greater amounts, lenders require security so they can reduce the risk to themselves – this is where a commercial mortgage comes in. A commercial mortgage typically lasts from 3 to 25 years and you can usually find a 70-75% mortgage. There are two types of mortgage loan for commercial properties, owner-occupier mortgages and commercial investment mortgages. An owner-occupier mortgage is used to buy property that will be used as trading premises for a business whereas a commercial investment mortgage is used for property that is intended to be rented out.

For more information about mortgages in Leicester get in touch with the Finance Advice Centre today. We also offer advice about self employed, moving home, professional, and Lifetime mortgages. Our team has specialist knowledge that can benefit you whether you’re completely new to the mortgages or have prior knowledge. So, if you are looking for a mortgage advisor in Leicester that can give you the assistance you need to get your mortgage application accepted, we are on hand to help.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE