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About Mortgages |
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What is a mortgage?
A mortgage is the name given to a loan secured on your home.
It is usually used to buy the home although it is becoming
more popular to consider a new mortgage, where the
property is already owned, to access a more competitive
mortgage product or to raise capital for other purposes,
such as school fees or business investment.
A mortgage is a long-term loan and traditionally have run
for a fixed period, typically 25 years. However, most
mortgages are flexible enough to allow for early repayment
or, if your circumstances dictate, the term can be
extended beyond the original loan period.
Mortgages were once the preserve of building societies and
the high street banks, however recently far more
competition has entered the market and there is now a raft
of lenders offering mortgage loans on residential
property. This expansion in the number of lenders has lead
to a vast array of different loan packages.
Nowadays there are loan deals to suit most people's needs,
whether you are buying your first home, a retirement
cottage or perhaps an investment property.
You should note that in year 2000 the Government removed
Mortgage Interest relief (tax relief) on mortgage
interest. Although it is still possible to invest into tax
efficient savings or investment plans to assist you repay
your mortgage at the end of its term.
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Whatever Your Circumstances.....
We Can Help. Apply Today, why delay?
Your home is at risk if you do not keep up repayments on a mortgage or
other loans secured on it. Written quotations available on request
subject to status.
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respected companies.
Mortgage-Plus is a licensed credit broker.
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