First Time Buyer

Many lenders will offer specific products for those looking to get on the housing ladder for the first time and may include cost saving features such as free or refunded valuations and contributions to the payment of legal fees. Some will also offer the facility of a 100% mortgage for those with no deposit available. Whilst such a facility will tend to come at an increased rate of interest, this may be preferable or even essential in the first few years when the alternative is the length of time it may take attempting to save a 5% or even a 10% deposit to secure a more competitive rate 

House Mover

As years go by, many people will move up and even down the housing chain as their family grows, children eventually leave home and circumstances change. Any of these factors will lead to the need for ongoing advice. Increased borrowing, alterations in the term of the mortgage an increase or reduction in the loan to value can all lead to a change in mortgage requirements and the range of products available at that time. A particular method of repayment and type of interest suitable at one point in time may no longer be appropriate in the future.  

Re-mortgage

Such a loan can be used for many purposes, from a straightforward re-mortgage to obtain a more competitive rate of interest, to a release of additional equity in your home. Restrictions as to the maximum loan based on the value of your home may apply for certain uses but these can include home improvements, debt consolidation, the funding of an additional property purchase such as a holiday home or capital expenditure on such as a car or special holiday.

Think carefully before securing other debts against your home.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP TO REPAYMENTS ON YOUR MORTGAGE.