Mortgages - Independent Mortgage Advice


Mortgages
We are qualified to give complete and unbiased advice on all types of mortgage and remortgage including commercial and bridging finance.

Our mortgage sourcing technology and lender relationships enable us to research the
'Whole of Market'. Whether you’re a first-time buyer, moving home or remortgaging, we can help you choose a suitable mortgage.

There are three important things to think about when you take out a mortgage:
  • find the mortgage that suits you and your circumstances;
  • borrow an amount you can comfortably afford; and
  • plan for changes – interest rates can go up, your income can fall, etc.

How much can you borrow?
Clients often ask us ‘How much can we borrow?’, however, a better way of approaching this is ‘How much can we afford to borrow?’.

Most lenders make an affordability assessment when calculating how much they are prepared to lend you. Generally they will calculate your disposable income, by taking account of:

  • your total income;
  • any credit commitment such as loans and credit cards; and
  • household bills and living expenses.
  • Keeping borrowing comfortable - work out your budget to see how much money you’ve got coming in and going out and how much money you’ve got to spare.

Types of mortgage
You can choose to pay your mortgage back in the following ways:

  • Repayment mortgages - Every month, your payments to the lender go towards reducing the amount you owe as well as paying the interest they charge.
  • Interest-only mortgages - As the name suggests, your monthly payment only pays the interest charges on your loan - you're not actually reducing the loan itself. This is why it's very important you arrange some other way to repay the loan at the end of the term i.e. a savings contract etc; or
  • A combination of the two.

You may also be able to choose between fixed rate and variable rate mortgages. Fixed rate loans will give you some certainty about your mortgage repayments whilst variable rate loans could move up or down. You should also remember that your mortgage payments could rise if interest rates rise, depending on the type of mortgage you have.

Fees and costs
We will provide you with a ‘Keyfacts’ illustration document which clearly sets out the costs of your mortgage.

Choosing from all the different types of mortgages, interest rates and repayment methods available can seem like an obstacle course – We give totally
independent unbiased advice, from the ‘Whole of Market’ so before you apply for a new mortgage:

Please contact us for all your Independent Mortgage advice. 


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

The guidance and/or advice contained within this website are subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK.
Grange Financial (Sussex) Ltd is a member of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk. Details can be found at https://register.fca.org.uk/ under reference number 229110. Grange Financial (Sussex) Ltd is registered in England, no. 4502151. Registered office 88 Boundary Road, Hove, East Sussex, BN3 7GA.