Gold Star offers comprehensive advice for Residential Mortgages.
What is Mortgage?
A mortgage is a form of loan that a financial institution lends you to help you buy a property. The amount the Bank or Building Society will lend you is dependant on the deposit you have to put towards the property.
What do we cover?
There’s a wide range of mortgage products out there, with varying interest rates and repayment options available. If you’re looking for something else, then you can still contact us for more information.
Buying a home
People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector.
Buy to Let Mortgages
Bridging Finance
With options for overpayment and payment ‘holidays’, a flexible mortgage can make the traditional 25-year British mortgage look rather old-fashioned.
First Time Buyers
People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector.
Remortgaging means switching your mortgage to another deal with another lender without moving property.
Self Build Mortgages
These are mortgages suited to people building a new home. With a self build mortgage, money is released in stages as the build progresses. For more information, click on “New Homes Mortgages” above.
IMPORTANT
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The financial services industry regulator, the Financial Conduct Authority (FCA), has set out a set of rules for mortgage advisers, and lenders, to improve the process of getting a mortgage.
In the past, some people were allowed to take out mortgages they couldn’t afford. This meant they fell behind with payments or lost their homes.
The Financial Conduct Authority (FCA), the financial services industry regulator, has set out a set of rules for mortgage advisers like us, and lenders, to improve the process of getting a mortgage, and prevent these past problems.
Under the rules, which came into force on 26 April 2014, your lender must check that you can afford your repayments now and in the future. To do this they will need information about your income and outgoings. You will have to tell them if you expect your income and outgoings to change in a way that means you’ll have less to spend on your mortgage payments.
You will also need to give your mortgage lender evidence of your income.
IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
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 DEBT SECURED ON IT. THE ACTUAL RATE AND FEES CHARGED WILL DEPEND UPON YOUR CIRCUMSTANCES.