Mortgages

Independent advice and guidance on mortgages

A mortgage is one of the most important and largest purchase you will make. Buying your first home or re-mortgaging can be an intimidating, stressful and often time consuming process with many complex questions needing answers. Not only is it important to ensure you have the best, most expert advice available, it is also crucial to access the whole mortgage market and not be tied to a specific lender.

FPM Advice Centre are independent advisers, which enables us to source and offer the most suitable mortgage from the whole of the mortgage market to match your unique circumstances.

Our experienced advisers are here to help, advise and share their expert knowledge of mortgages with you – they will discuss, identify and evaluate your own personal needs and will give you effective impartial solutions to best match your current situation. Our mortgage solutions are based on your complete financial profile, so that we take into consideration key milestones in life like starting a family, when you might want to move home or even retire.

FPM Advice Centre offers a free initial consultation, our mortgage advisors are able to meet you at a time and place convenient to you, so whether you’re a first time buyer, looking to buy-to-let, want a better deal or simply want to review your current situation , FPM Advice Centre can help you find the right mortgage to match your needs.

WE CAN HELP WITH

  • First time buyers
  • Re-mortgage
  • Moving home
  • Buy-to-let
  • Help to Buy
  • New build, self-build and mortgage protection

Reviewing your mortgage

Many home owners are throwing away money unnecessary by not reviewing their mortgage. Once FPM Advice Centre has helped secure your mortgage we can regularly review your mortgage and circumstances to ensure you have the most cost effective solution so that you never pay more than you need to for your mortgage.

Our fees

We have standard fees, starting from £99. These are negotiable with your adviser and can be waived in certain cases

Please remember…

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any debt secured against it.

Key mortgage terms explained

All mortgages follow the same basic principle – you borrow money from a lender to buy a property. You pay interest on the loan and agree to pay off the full loan within a fixed period. If you have any questions, don’t hesitate to contact FPM Advice Centre.

A repayment mortgage (capital and interest)

With repayment a mortgages you only pay the interest and part of the capital off every month. The amount you owe will gradually reduce over the term of the plan, until at the end of the (plan), typically 25 years, you will have paid it all off and own your home providing all payments are made on time and in full.

Ideal for: buyers who want to ensure their house will be paid for completely at the end of the mortgage term.

Interest only

With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).
A separate plan for how you will repay the original loan at the end of the mortgage term would be arranged. Originally the preferred product was an mortgage endowment policy (this also included a specific amount of life cover), however, Individual Savings Accounts (ISAs) and pensions are becoming more common form of product to repay the capital of an interest-only mortgage.

Ideal for: ‘Buy to Let’ properties. Where it is your ultimate intention to sell the property.

OR Buyers who want to pay the lowest monthly repayments and are confident they will have enough money to repay the actual loan at the end of the mortgage, perhaps by downsizing or money from another source.

Fixed

With a fixed-rate mortgage your monthly repayments will be the exact same for a certain period of time – typically two to five years. A fixed rate mortgage will not be affected by what interest rates are doing in the wider market.

Ideal for: buyers who want to know exactly how much they’ll be paying over the next few years and have fixed budget.

Variable rate

With variable rate mortgage, the rate you pay could move up or down – this is in line with the Bank of England base rate.

Ideal for: buyers who believe mortgage rates are going down and want to take advantage of the drop.

Tracker

A tracker mortgage moves in line with a nominated interest rate (i.e. they track), which is usually the Bank of England base rate. Usually the rate you pay will be a set interest rate above or below the base rate. When base rate goes up your tracker mortgage will rise by the same amount, it will also go down (by the same amount) when the base rate drops.

Ideal for: buyers who believe that rates will go down but can afford to pay more if rates go up.

Discount

A discount mortgage is a reduction on the lender’s standard variable rate (SVR). These type of mortgages are some of the cheapest around, however as they are linked to the SVR, the rate will go up and down when the SVR changes.

Ideal for: buyers who want a low rate of interest but can afford to pay more if rates go up.

Request a callback

Arrange your free no-obligation mortgage consultation today.

If you have any questions or you’d like to discuss your mortgage options please complete the call back form below, alternatively, please call 01925 240020, email or complete our enquiry form.

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