Mortgages for personal reasons are secured against a primary residence. Depending on your circumstances and if you have owned a property before will determine the types of product you will be eligible to apply for. There are many ‘off the shelf’ products available on the market today. Whether these will fit in line with your requirements will depend on your individual circumstances and the criteria for borrowing set by the lender.
The interest rate charged on the loan is determined by a number of factors including your current credit score, your disposable income along with the size of any deposit you are putting up as collateral. Loans are offered on an capital and interest or interest-only basis. Repayment mortgages are more expensive each month than interest-only but guarantee you own the property outright at the end of the chosen mortgage term.
To discuss your requirements, contact our team on 0333 000 0000 (Mon-Fri, 8am-6pm) or request a callback at a time most convenient to you.