Residential Mortgages

What Is a Residential Mortgage?

A residential mortgage is a type of loan secured against your property, to enable you to buy your own home. The residential mortgage market is vast with 1000’s of products giving you plenty of choice to get the right mortgage for you, whatever your situation.

See below for some examples of the types of different residential mortgage routes there are.

First Time Buyer

Making that first step on the property ladder can be one of the most exciting but stressful experiences in life. We lead you step by step through the decision-making process to give you the right foundations to support your property search. Whether you are ready now, or it’s a long-term ambition of yours to own your own home, we are here to help.

Shared Ownership

Shared Ownership is a home ownership scheme designed to make property ownership more accessible. This is done by purchasing only part of the property, typically as little as 10% and renting the remainder. Over time you can ‘staircase’ your way to larger shares by increasing the amount you own as your affordability improves.

We will help you understand the advantages and disadvantages of shared ownership based on your personal circumstances, as well as calculate what type of property you could afford at different ownership levels.

Help To Buy

Is a scheme that is now closed to new purchases. These mortgages involved taking out an additional equity loan alongside a mortgage to purchase a property. We can help you understand your borrowing options to assist in repaying the equity loan if you already own a Help to Buy property.

Own New

Own New was set up in 2024 and is another way to help first time buyers and those purchasing their next home with a more affordable way to buy new build property. It works through housebuilders paying a small fee on completion to the mortgage lender in question, who in return, can then offer a discounted mortgage rate.

New Build

When buying new build, often purchases are made off plan. It’s important to use a lender that can offer long offer period for exactly this reason, if this isn’t done correctly you may need to apply for a mortgage again, losing any interest rates or terms that you have previously secured.

Large Mortgages

If you are considering a substantial property purchase and looking for a large mortgage to assist, there are new challenges that may present themselves. For those looking at borrowing over £1m we can help you identify the lenders that are able to lend this amount, as many wont, and are used to managing higher value transactions with specialist teams on hand to assist.

We can help match you to a suitable product considering the right source of income for you and giving you the flexibility you might need for such a large amount of debt.

Remortgaging

Whatever type of mortgage you have currently, it’s always highly beneficial to review your mortgage and financing arrangements at every remortgage opportunity. Whether you want to take this opportunity to overpay your mortgage free of any Early Repayment Charges, or borrow more, this is the best time to do it.

Whilst your property or your mortgage may not change, your life circumstances can change greatly from time to time whether you have a growing family, an unexpected cost or a change in your financial goals, adapting your financing around your changing personal circumstances can make a big difference to your overall financial set up and lifestyle. Many are unaware how they can change their mortgage term to help improve their financial plans.

Further Advance

People are often surprised at how easy, and straight forward borrowing more from their lender can be. We can advise on whether your current lender will be able to offer you a further advance, what for, and how much they can offer.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage.