Financial Services

Mortgages

There are lots of different possibilities when it comes to choosing a mortgage. The Mortgage + Property Centre provides completely independent unbiased advice on the full range of mortgage products available. The Mortgage + Property Centre is a trading name of Alex Hutcheon + Company, who are authorised and regulated by the Financial Services Authority.

With computerised instant access to all the major lenders and their products an initial NO OBLIGATION meeting with one of our fully qualified independent financial consultants will prove to be time well spent. Finding a mortgage that suits you and obtaining an agreement in principle for you from a lender can be carried out Without Obligation

No fee will be charged as we are normally paid commission from the lender.

Alternatively, you may opt to pay a fee of £1000 at the time of submission of your application for a mortgage and we will refund you all the commission. You will receive a full refund of the fee if the lender rejects your application due to no fault of your own and you have disclosed all information accurately on the application. However no refund will be given if you decide not to proceed or if you disclose inaccurate information on your application. Your home may be repossessed if you do not keep up repayments on your mortgage. Authorised and regulated by the Financial Services Authority.

We can explain the pros and cons of the huge range of different fixed, discount, capped, variable and tracker or combination mortgages available and source the mortgage which BEST MEETS YOUR INDIVIDUAL NEEDS.

We do not represent or have any ties with any one lender and will ensure that your choice of mortgage is properly and independently arrived at.

Should you wish to find out more about how we can assist you to simplify the mortgage
maze click here

Repaying a Mortgage
There are several different ways to repay a mortgage. Our independent financial consultants will be happy to explain the merits of each to you in detail.

The main alternatives are:
"Capital and Interest" or "Repayment"
A repayment mortgage (also known as capital and interest mortgage) involves your monthly payments paying both the interest and part of the initial amount borrowed. The term of the mortgage can vary but provided payments are kept up-to-date, the loan will be paid off in full at the end of the agreed term.

You will normally require to take out a life assurance policy to pay off any outstanding amount of the mortgage in the event of your death before the end of the agreed term.

As time goes by, you reduce the amount which you owe to the lender and you may with some products be able to shorten the term of the mortgage by paying a lump sum or increasing monthly payments.

"Interest only" – Endowment
An endowment mortgage is different in that you only pay interest on the amount you originally borrowed to the lender, together with a separate monthly premium to an endowment life assurance policy which is invested on your behalf by the life assurance company and aims to pay off the amount you originally borrowed at the end of the term. Many people take out a with profits or unit linked endowment assurance policy. When the policy matures at the end of term, it is designed to pay off the amount you originally borrowed and you keep any surplus - tax free.

To get the full benefit of an endowment policy, you need to continue payments for the full term and once you have started a policy, you can take it with you each time you move, topping it up periodically to cover any additional mortgage if required.

"Interest only" - Pension
Usually available to the self-employed with their own pension schemes and employees with a pension scheme. Similar to an endowment mortgage, you pay monthly interest on the amount originally borrowed, together with a monthly contribution to a pension scheme. As well as paying off your mortgage on retirement, this method of repayment is designed to provide you with a pension. As with the capital and interest or repayment mortgage, you will require to take out separate life cover.

"Interest only" – ISAs
An ISA mortgage works in a similar way to an endowment mortgage in that you pay only interest on the amount borrowed while at the same time building up a savings plan known as an ISA which is designed to pay off your mortgage at the end of the mortgage term. As with the capital and interest or repayment mortgage, you will require to take out separate life cover.

An ISA is more flexible than an endowment as you can take money out of the plan during the term of the mortgage in order to pay part of it off and reduce your monthly interest payments. If an ISA does not grow fast enough, you may not be able to pay off your mortgage at the end of its term.

With endowment, pension and ISA mortgages, it is your responsibility to ensure that you are able to repay the mortgage at the end of the term. You must keep up payments to your chosen repayment vehicle and we strongly recommend that you arrange for regular checks to ensure that your plan is on course to have enough funds to repay the loan at the end of the term. This element of potential shortfall is the main reason for recent bad press surrounding some types of endowment policies. Our independent financial consultants will be able to advise you fully on any existing policies and the relative merits of all the foregoing repayment vehicles.

Click here to apply for an appointment

The Remortgage Company

Remortgaging a property is now very common and can be highly effective in reducing your monthly outgoings. Most lenders now compete aggressively for your mortgage business resulting in a huge range of products offering mortgage deals - fixed, capped or discounted to a particular rate.

We deal with a large volume of remortgages and can provide you with step by step advice and a Quote of the Fixed Costs involved in the legal requirements of changing lenders. These costs can very often be justified in the monthly savings you can make or can actually be paid for to some extent by the new lender.

Remortgaging does not involve moving home and can be completed VERY QUICKLY.

Protection and Savings ad Investments

In addition to the above, our fully qualified team of independent financial consultants can provide comprehensive advice on the following:

Protection, Savings and Investments

In addition to the above, our fully qualified team of independent financial consultants can provide comprehensive advice on the following:

Protection
Whichever method of repaying your mortgage you choose, you should consider taking advice on the availability and cost of insurance to cover your mortgage repayments and any other outgoings in the event of unemployment, illness or an accident which may make it difficult for you to make monthly repayments.

We will be pleased to advise you on all aspects of term assurance, whole of life, permanent health insurance, redundancy insurance, personal accident and sickness, critical illness, long term care and medical expenses insurance. Contact/request for appointment

Savings and Investments
Who better than your solicitor to trust for advice on the most suitable option and best rates available for your savings. The Mortgage + Property Centre is a trading name of Alex Hutcheon + Company who are authorised and regulated by the Financial Services Authority. Again, our consultants can provide no obligation fully confidential advice on the full range of alternatives open to protect your interests including, bank and building society accounts, national savings, unit trusts, investment trusts, ISAs, investment bonds, endowments and annuities.
Contact/request for appointment

Should you wish to proceed directly to view our full range of current properties for sale, click here