A helping hand onto the first rung
In a fast-changing world, we take comfort in the things that never change. So it’s easy to understand why so many of us still dream of owning our own home.
But that fast-changing world means it can seem harder than ever to get on the housing ladder.
Jobs, homes, incomes – they don’t look like they used to
You might work freelance, or have a temporary contract. You might rely on bonuses, overtime or tax credits to top up your wages. Your parents might be helping you out with your deposit.
There’s nothing unusual about any of these things, anymore. But some lenders aren’t keeping up with our changing lifestyles.
And that could make getting a mortgage harder than you realised.
Our common sense approach
You’re not just a credit score. So we look at the bigger picture, and get to know the person behind the numbers instead.
After all… if the sums show you can afford it, we think you should have it.
It sounds obvious when you put it that way. But it means we’ve helped lots of people buy their first home over the years, when others couldn’t.
Overall cost for comparison
For example: A mortgage of £85,000 payable over 23 years, initially on a fixed rate for 5 years at 7.12% (and then on a tracker rate for the remaining 18 years at 6.12% above the Bank of England Base Rate) would require 60 monthly payments of £658.14, and 216 monthly payments of £634.89, plus a redemption administration fee of £150.00.
The total amount payable would be £176,773.76, made up of: the loan amount; interest on the loan (£83,213.11); the processing fee (£2,125.00); the arrangement fee (£2,125.00); interest on these fees (£4,160.66); and the redemption administration fee (£150.00).
The overall cost for comparison is 7.7% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.