The vast majority of people who buy a new home are not cash buyers, which means that just about everyone purchasing a property – especially for the first time – will need a mortgage.
A mortgage is basically a large loan usually given by a bank which covers the whole price of the property, and you then pay that mortgage back monthly (much like rent) until the property is paid off. Mortgages come with interest at certain rates which may be fixed or variable. Your initial mortgage may be £100,000, however the full price of the mortgage over a number of years may equate to £125,000, however when it is paid off in full you will become the owner of the property.
Here at Charles & Derby Estates, we are here to guide you through the process of applying for a mortgage, and we have dedicated mortgage advisors to assist you in making the right decisions for you and your family in the long term. We have years of experience working with industry professional so we are perfectly placed to provide you with the solutions you need to purchase a property that is affordable for you and within your set budget.
When you start an initial consultation on mortgages with us, we take a look at many aspects of your life such as other financial commitments, job security and your family situation to name a few so we can help you select the right mortgage. Once we’ve determined how much you are likely to be able to borrow, you can begin your property search in earnest, looking at properties you’d love to live in, safe in the knowledge that you can actually afford it – both the initial deposit and the long-term mortgage commitment.
Get in touch today and book a consultation with one of our friendly mortgage advisors, and take the first step in making your new dream property a reality!
