125%
Mortgages are loans that cover the full value of your property
plus an extra 25% over and above the property value. These usually work
as a 95% mortgage with up to 30% available as an un-secured / personal loan
on top. The un-secured loan element will usually be at the same interest
rate as your mortgage interest rate, which may be a beneficial rate compared
to separate un-secured loan rates.
The key benefit(s) of a mortgage that will cover more than the
value of your property, is that extra money may be borrowed to
cover the fees / costs associated with purchasing a new property eg. solicitors
fees, broker fee, valuation fee, removal costs, furnishings, stamp duty
etc.
125% mortgages may not be suitable for everybody's needs. Although only
95% may be secured on the property, in a falling property market you may
end up owing more than the value of your property i.e. a "Negative
Equity Situation". You should obtain professional advice before deciding
on which type of mortgage is most suitable for your needs.
We Believe the
Best Advice is Independent Advice
Mortgage.gb.net introduces to Park Row Associates Ltd and other strategic (independent) advice partners. Park Row Associates Ltd are a national independent financial advice company who are authorised and regulated by the Financial Services Authority. Mortgage.gb, as part of the Internet Mortgage Services group of websites, believe very strongly that the, "Best Advice is Independent Advice". We are very careful to ensure that all our partner advice companies are, and remain to be, independent and retain whole of market access to ensure that you can obtain (through our service) the most appropriate mortgage to meet your needs. For information on our partner advice companies, please click
here.
Our
other strategic partners have been selected to compliment our association
with Park Row. It will be clear to you which of our partners will
deal with your request at the earliest possible stage
The aim of this service is to introduce people like yourself to an independent mortgage adviser, who can either advise and recommend a specific mortgage deal for you (based on your needs / circumstances) or can offer detailed information on suitable products to help you select the most appropriate mortgage deal available to meet your needs.
The
key to our service is independence. The adviser that you will be introduced to will be fully independent, and as such will review the whole UK mortgage
market to give you the best advice and access to some exclusive deals.
You are under no obligation to proceed.
You
will be instantly notified by e-mail of any additional information
required, using an easy to complete mortgage questionnaire form.
All information will be contained on a secure server, and will remain
confidential between you and your adviser.
We like people to remain in control, so the preferred methods of contact are both phone and e-mail. It can be arranged that an adviser can come to see you in person at your request, but find that most clients prefer to work remotely.
Once
the adviser has obtained the information they require to find you
the most appropriate deal, he / she will source from the entire UK
market using in-house regularly updated mortgage sourcing software.
He / she can e-mail or post recommended product illustrations for
you to look over (or may be available to provide a face-to-face advice
appointment with you).
We
believe the Best Advice is 'Independent' Advice!
Your
home may be repossessed if you do not keep up repayments on your mortgage.
"A
fee may be payable for mortgage advice, depending on your circumstances,
of up to 1% of the loan amount."
