Please remember: A mortgage is a secured loan against your home and failure to meet your repayments may result in repossession.
Speak to our team for more information.
Buying a house is one of the most important purchases you will make, and buying a home for the first time can be daunting prospect. There are a high number of mortgage products available to choose from which can leave you with a confusing decision!
We can consider your individual circumstances and match those circumstances to the lender or lenders that we believe will not only give you a mortgage but give you one that well suited to your individual needs and situation. This saves a possibly painful trawl from individual lender and reduces your chances of being declined, which can negatively impact your credit report and reduce your chances of being accepted. If you have any concerns with your credit report our advisers are on hand to discuss how this may affect your mortgage.
“As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments”
When you Remortgage, you are switching your mortgage to another deal and frequently this may be with another lender.
Remortgages can be used for various reasons, such as reducing your interest rate or borrowing more money for home improvements or debt consolidation.
It is worth noting that a remortgage is not the best option in all cases. Even if the lender you are considering switching to is offering a lower APR, we will give you an independent assessment to advise if this is the most financially viable option for you.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable You may have to pay an early repayment charge to your existing lender if you re-mortgage.
“As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments”
When buying a second property to let, you need to decide whether your objective is income or capital growth. Are you looking to make a profit month on month or are you looking to make a profit through increased equity from the second property if it increases in value over time? The decision may affect the type of property you purchase, and the location!
There are a number of factors that will affect the yield from your rental property; such as interest rates, property maintenance, insurance and services charges.
At Scala, we have qualified brokers who specialise in both personal and limited companies buy to let mortgages; allowing you to get the highest, tax efficient yield from the property.
Your home may be repossessed if you do not keep up repayments on your mortgage(s).
The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages. A buy to let mortgage will be secured against your property.
“As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments”
Commercial mortgages are used to buy business premises. Obtaining a commercial mortgage is based on the ability of your business to make the repayments. They generally look at past performance, the current position and long-term future plans of the business. The interest rate you will be quoted may be based on these factors and may be higher if the underwriter identifies higher risk in the proposal.
“As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments”
