Introduction to Mortgages
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Elevate is a trusted mortgage broker based in Beckenham and Bromley with a long line of success stories, working with clients across London. We offer a selection of services to make sure our clients get the most out of their hard-earned money. One of our most popular services is mortgage advice.
Our experienced team is well-equipped to analyse your personal circumstances and the mortgages available to you. We will provide clarity on confusing terms, explain which types of mortgages are suitable for your needs – and we can uncover the best relevant deals across the whole of the market.
The Different Types of Mortgages
Trying to make sense of different mortgage types can be confusing. It is one aspect of the mortgage journey that causes the most stress. Here are some of the most common types of mortgages in the UK:
- Standard Variable Rate Mortgage
- Tracker Mortgage
- Fixed-rate Mortgage
- Offset Mortgage
- Interest-Only Mortgage
The most advantageous mortgage for you will depend on your circumstances and long-term plans. Unfortunately, mortgages never come with a one-size-fits-all approach, and that’s why utilising mortgage advice can be so valuable.
Why Choose Elevate for Your Mortgage Search
Elevate is an established mortgage advisory firm in London and regulated by the Financial Conduct Authority (FCA). We abide by strict codes of practice and always go the extra mile to ensure our clients get the best mortgage deals available to them.
Experience, efficiency and a transparent service have made Elevate a trusted mortgage advice provider. We are not partnered with banks or specific mortgage lenders and promise to search the whole of the market for the best mortgage deal for you. This means you won’t miss out on deals due to any undisclosed relationships with lenders.
Mortgage Affordability and Suitability Protection
Part of our mortgage advice service is to ensure clients only agree to mortgages that they are suitable for and can afford. We comply with best practices by making sure every client commits to financial agreements that are in their best interest and are unlikely to cause them financial problems.
We look out for you!
Your Mortgage FAQs Answered
How do deposits work?
A mortgage deposit is the initial sum of money you put down on a property purchase. Lenders will require a certain amount of deposit based on the value of the home you want to buy. The average deposit is around 20% of the overall value. Putting down a bigger deposit will help reduce the size of your mortgage and possibly your monthly repayments.
What are mortgage rates?
Mortgage rates are the rate of interest you will pay on top of the amount you borrow to buy a property. Mortgage rates vary depending on the type of mortgage and the lender.
What is loan to value?
A loan-to-value is a ratio that expresses the amount of money borrowed against the value of an asset. A good loan-to-value ratio should be 80% or less.
What is Stamp Duty?
Stamp Duty is a type of land tax that you must pay to the government when you buy a property. Everyone who buys a property in the UK must pay Stamp Duty. The amount of Stamp Duty you pay depends on the property’s location and value.
Why Use an Advisor to Find a Mortgage?
Entering into a mortgage agreement is likely to be the biggest financial commitment you ever make. It comes with a lot of stress, panic and potential pitfalls that could end up costing you each month for many years.
Using a professional mortgage broker like Elevate will make the process smoother and even enjoyable. Our dedicated mortgage advisors will assess your circumstances to source the best mortgages from the whole of the market. If you don’t want to make mistakes that could make you pay more for your home, mortgage advisors can help.
Contact Elevate now to discuss your property purchase and discover how we can assist you with your mortgage. Our friendly team are always here to answer your questions!
A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Elevate is a trusted mortgage broker based in Beckenham and Bromley with a long line of success stories, working with clients across London. We offer a selection of services to make sure our clients get the most out of their hard-earned money. One of our most popular services is mortgage advice.
Our experienced team is well-equipped to analyse your personal circumstances and the mortgages available to you. We will provide clarity on confusing terms, explain which types of mortgages are suitable for your needs – and we can uncover the best relevant deals across the whole of the market.
The Different Types of Mortgages
Trying to make sense of different mortgage types can be confusing. It is one aspect of the mortgage journey that causes the most stress. Here are some of the most common types of mortgages in the UK:
- Standard Variable Rate Mortgage
- Tracker Mortgage
- Fixed-rate Mortgage
- Offset Mortgage
- Interest-Only Mortgage
The most advantageous mortgage for you will depend on your circumstances and long-term plans. Unfortunately, mortgages never come with a one-size-fits-all approach, and that’s why utilising mortgage advice can be so valuable.
Why Choose Elevate for Your Mortgage Search
Elevate is an established mortgage advisory firm in London and regulated by the Financial Conduct Authority (FCA). We abide by strict codes of practice and always go the extra mile to ensure our clients get the best mortgage deals available to them.
Experience, efficiency and a transparent service have made Elevate a trusted mortgage advice provider. We are not partnered with banks or specific mortgage lenders and promise to search the whole of the market for the best mortgage deal for you. This means you won’t miss out on deals due to any undisclosed relationships with lenders.
Mortgage Affordability and Suitability Protection
Part of our mortgage advice service is to ensure clients only agree to mortgages that they are suitable for and can afford. We comply with best practices by making sure every client commits to financial agreements that are in their best interest and are unlikely to cause them financial problems.
We look out for you!
Your Mortgage FAQs Answered
How do deposits work?
A mortgage deposit is the initial sum of money you put down on a property purchase. Lenders will require a certain amount of deposit based on the value of the home you want to buy. The average deposit is around 20% of the overall value. Putting down a bigger deposit will help reduce the size of your mortgage and possibly your monthly repayments.
What are mortgage rates?
Mortgage rates are the rate of interest you will pay on top of the amount you borrow to buy a property. Mortgage rates vary depending on the type of mortgage and the lender.
What is loan to value?
A loan-to-value is a ratio that expresses the amount of money borrowed against the value of an asset. A good loan-to-value ratio should be 80% or less.
What is Stamp Duty?
Stamp Duty is a type of land tax that you must pay to the government when you buy a property. Everyone who buys a property in the UK must pay Stamp Duty. The amount of Stamp Duty you pay depends on the property’s location and value.
Why Use an Advisor to Find a Mortgage?
Entering into a mortgage agreement is likely to be the biggest financial commitment you ever make. It comes with a lot of stress, panic and potential pitfalls that could end up costing you each month for many years.
Using a professional mortgage broker like Elevate will make the process smoother and even enjoyable. Our dedicated mortgage advisors will assess your circumstances to source the best mortgages from the whole of the market. If you don’t want to make mistakes that could make you pay more for your home, mortgage advisors can help.
Contact Elevate now to discuss your property purchase and discover how we can assist you with your mortgage. Our friendly team are always here to answer your questions!
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