At London Mortgage Consultants,
We aim for total transparency in all adviser-client communications. This is crucial as the mortgage process is often branded as unclear, stressful and time-consuming by many in the general public.
When you first meet us for a consultation, the mortgage process will be explained in detail and any questions you may have will be answered at the meeting.
We’ll advise you of the next steps involved as you advance through the mortgage process.
First Time Buyers
You are ready to take the first step on the property ladder. Buying your first home is exciting but it can also be quite stressful. Our brokers can take you through the process step by step and will always be available to answer any questions you have.
We recommend getting in touch with one of our advisers, who have access to whole of market products, and they can advise you based on your discussions what you can reasonably afford in terms of a mortgage.
Buy to Let:
Buying a property to rent it out to third party is a tool for investment both for first time landlord and professional portfolio landlords. If you looking to buy a property to rent to a third party, you would need specific Buy-to-let(BTL) mortgage products .
We can help you with buy to let mortgages as we have access to various BTL specialist lenders.
Interest only Mortgages:
An interest-only mortgage is a type of mortgage where you only pay the interest each month on the amount you have borrowed. The principal amount and charges if any would still be owed at the end of the term.
You would need to demonstrate a credible strategy to repay the principal amount at the end of the term.
Remortgage:
Remortgage is the process of switching your existing mortgage to a new deal, using
the same property as security.
You can remortgage with the same lender or a different provider.
Our team can assess your situation and
advice on the remortgage deals best suited to your needs and circumstances.
Bridging:
A bridging loan is a short-term finance option for buying a property. It bridges the financial gap when you need to purchase a property but are waiting for funds to be released from another transaction.
Bridging loans are short-term and usually offered for between 1-18 months and you should have a viable exit strategy to exit the bridge.
Our Advisers can advise you through the process and suggest if a bridging loan would be the right solution.
Commercial Mortgages:
A commercial Mortgage is a mortgage secured against commercial property like a shop, office building, a warehouse. You would a semi-commercial mortgage if you are looking for a mortgage on a property where there is a business unit and a residential dwelling on the same property
We have access to specialist lenders who would lend on commercial properties. Interest rates are usually higher for commercial mortgages.
Second Charges:
A second charge mortgage – also called a second mortgage – is a secured loan of over £1,000 taken out in addition to a first mortgage, against the equity in your property. As the name implies, a second charge mortgage will mean that you have two mortgages on your home. Second charge loans are often referred to as second mortgages because they have secondary priority behind your main (or first charge) mortgage
Fees
For Residential and Buy to let mortgages, we charge a fee of £500. The fees may vary for Commercial release cases.