There are always a wide range of mortgage deals available from a range of mortgage lenders. Choosing the best mortgage deal for your particular circumstances isn’t easy as the various charges that lenders apply to their mortgage offers can have a huge impact on the total cost of the mortgage over a specific time period. Often lenders entice potential borrowers with an attractive “headline rate” eg. 2.99% fixed for 2 years.
There are however many other factors to consider including:
- Total cost
- APR (annual Percentage Rate
- Initial Fees i.e. Arrangement or Booking Fees
- Survey Fees
- Any early redemption penalties that may apply
- Administration and Service standards of the lender
- Whether the lender is prepared to offer a mortgage in your specific circumstances
Since the credit crunch started in 2008 – lenders have generally been much stricter on the criteria that they specify which means that finding the right mortgage deal has become more difficult.
Pegasus Portfolio Planning have many years experience in arranging mortgages for people in a variety of differing circumstances. Contact Us Now for a free assessment of the mortgages and remortgages available to you. We are completely independent so are able to source the best deal for you, even if the lender doesn’t have a local branch.
We are able to advise on the following:
• Mortgages for first time buyers
• Mortgages for home movers
• Buy to Let mortgages
• Remortgages
• Mortgages for Self-employed
• Let to Buy Mortgages
Case Study 1
Mr & Mrs B were recommended to Pegasus as they were trying to move home and their existing lender had turned them down for a mortgage. Mr B was self employed and Mrs B was on maternity leave and although they had a substantial deposit they were unable to obtain the size of mortgage they required from their existing lender to enable them to buy the property they wanted.
After conducting research, Pegasus were able to obtain a mortgage for the clients which enabled them to buy the property of their choosing.
Case Study 2
Mr A & Miss A had just got married and wanted to move house. Unfortunately they were struggling to sell their own property and they only had a small deposit towards a new property which meant their choice of lenders was very limited. They asked us for advice to see if there was any way they would be able to move house under the circumstances.
We were able to arrange a remortgage of their existing property to raise capital so that they had enough funds to purchase a new property whilst letting out their existing property. This meant that their tenant met the cost of the mortgage on their first property and they were then able to comfortably afford the mortgage on their new property due to their larger deposit.
