Finding the most suitable lenders, rates, and payment terms involves a lot of research and comparisons, and at Remortgage Fast, we are fully aware of this fact. Shopping for a mortgage is not an easy task, but that’s what we are here for. We will take the stress away from you and bring you the best mortgage terms suitable for your financial situation. We do this by scouring the mortgage market in Hampshire extensively to find the best lender and rates for you at the best interest rates available.
If you are doing a bit of independent research, our generic best buy tables Hampshire can help you compare the mortgage rates available across different lenders providing you with an instant and unbiased view of the best deals. This can give you a fair idea and a cool way to compare your rates to make sure that they are in line with your budget. For you to understand the tables and be sure that you are indeed getting the best deals, you need to be aware of the type of the different features of the mortgage that you are interested in.
What type of mortgage rate would best suit your lifestyle in Hampshire?
A fixed rate mortgage has a guaranteed rate for an initial set term. What this means is that you know exactly how much you are expected to pay and for what period. The advantage is that your repayments will stay the same for a fixed period. This fixed period varies across lenders and can start from two years, and rise to five years or longer. There are ten years fixed rate mortgages giving you the opportunity to remain certain of your rates for an entire decade. However, fixed-rate mortgages often have higher interest rates than variable rate mortgages. Our best buy tables can provide you with the best fixed-rate mortgages available in Hampshire.
Variable-rate mortgages like the name implies change according to the Bank of England’s base rate or other economic conditions. The lenders also reserve the right to change the rates as they see fit, as long as they stay within the clause. Some variable rate mortgages have a ceiling beyond which they cannot rise. The disadvantage lies in not knowing whether or not your rates will rise or fall. They usually come with lower rates than fixed rate mortgages and can sometimes end up being cheaper in the long run.
If you have a lot of disposable income, or the ability to easily absorb any rise in payments, then a variable rate mortgage can prove to be worth it. With a tracker mortgage, the rate varies according to a tracked indices usually the mortgage base rate and is usually applied for an initial duration. Our best buy tables also show a comparison of the variable rate mortgages available across several locations in Hampshire. An offset mortgage uses your linked savings to reduce your mortgage payments. Keep in mind that this does not mean that you will lose your savings in the process.
You can browse our Hampshire best buy tables based on the type of mortgage that you need
Our best buy tables are also available depending on the type of mortgage that you need. Depending on if you need a first-time buyer mortgage, a remortgage, a buy to let mortgage. Buy to let mortgages have stricter lending requirements. A first-time buyer often has special deals available to enable them to get a mortgage with as little as 5% or 10% deposit. A remortgage comes up when you are at the end of a fixed or variable mortgage term and you think it’s time to consider remortgaging because you don’t like your current lender’s SVR. The best remortgage deals often offer you options that pay better rates than the SVR.
Check for how you want to pay your mortgage when you browse Hampshire’s best buy tables.
There are two basic options to choose from when you are deciding your payment terms. They are an interest-only deal or full repayment option. With the full repayment option, you expect to have paid off the entire balance and interest at the end of your mortgage term which usually begins from 25 years and above. As a result of this, your repayments will be calculated to suit this plan. They will usually be higher than in the case of an interest-only mortgage, and you will also have the option of shortening your term by making overpayments.
With an interest-only mortgage, you only pay the interest on the mortgage for the term of the mortgage with the understanding that at the end of term, you will come up with a lump sum to pay off the balance of your mortgage. The strategy was usually hinged on the fact that housing prices rise and at the end of your mortgage term, you might be able to sell your house at a higher price than when you bought it, giving you the opportunity to cover your mortgage. Interest-only mortgages are no longer as common as they used to be and are more commonly used in the buy to let sector.
Use Remortgage Fast as your best buy table
Having an unbiased table where you can compare available mortgages and see the information in a concise form is a good resource. You should probably know that nothing beats speaking with a professional. Remortgage Fast provides you with the best resources and provides you with the best deals based on your specific financial situation. We also provide advice from the stage of application for loans to closing on your home to help you avoid pitfalls and costly errors. This will give you the chance to make the best decisions about your mortgage. If you need help better understanding our Hampshire best buy tables, or you just want advice based on years of experience in the home loan sector, call us at 02380-970-879 or fill the form below and an expert will give you a personalised quote or professional advice.