All advice on mortgages and financial services is provided by Capricorn Mortgages who are an independent‘Whole of Market’ mortgage specialist.
As part of Openwork, the largest multi tie mortgage & financial advice network in the UK, Capricorn have access to a wide range of exclusive mortgage deals that you will not find on the high street. From your initial mortgage enquiry, Capricorn will assign you your own Personal Relationship Manager who will then guide you through the entire mortgage and house-buying process. Your relationship manager’s job is to ensure that you understand all aspects of the transaction and that things run as smoothly and efficiently as possible for you.
If you have a mortgage enquiry or would like to speak to a broker please click here.
With a Fixed Rate mortgage you pay a fixed interest rate for a fixed period of time and the rate and duration are arranged at the outset with the lender. This can be between 1 and 25 years, though the standard term would be 2 years.
With a Tracker Rate mortgage the rate of interest you pay is tied to the base rate set by the Bank of England. Typically a tracker rate mortgage will be set at a certain percentage above the BoE base rate. Although the Tracker rate is usually lower than the lender’s Standard Variable Rate, this can vary from lender to lender.
A Discounted Rate Mortgage is linked to an individual lender’s Standard Variable Rate. The lender may offer a discount to their variable rate for a specified period of time, but beware that there is no certainty as to what your future payments will be.
Buy-to-let mortgages are for investment properties that are not accupied by the owner. Some lenders will only consider a property’s rental income as the basis for determining whether or not to lend while other lenders will consider your normal earnings, especially if you only have one or two rental properties.
The expected rental income must exceed your mortgage repayments by a certain percentage. For example, your mortgage lender may require a rental income of 125%-130% of your monthly mortgage payments.
Generally, Buy-to-Let mortgages are available for between 5 and 45 years and for a maximum of 80% of the property value. When considering a Buy-to-Let mortgage, certain additional costs must be considered, including lettings agent fees, insurance, legal cover and the cost of maintaining the property in a suitable condition for letting. Buy to let mortgages are not regulated by the Financial Services Authority.
All advice on mortgages is provided by:
Capricorn Mortgages which is a trade name of Capricorn Wealth Management Ltd who are an appointed representative of Openwork Ltd which is authorised and regulated by the Financial Services Authority.
“It has been positive experience with First Union - the first time I used them was back in 2009. It's a very professional service, and most pleasing of all is the quality of tenant I have got both times I have used them. I would recommend them to others looking to rent a property in the area” From Mr B.C May 2015
“We’ve been very pleased with the service we have received. It’s been prompt, efficient and friendly. Any problems have been dealt with very quickly.”
“I bought my property through First Union. They know the area and know my block very well. For two successive tenancies, First Union have found reliable tenants for me. They have provided sound advice in setting the price based on their extensive knowledge of the rental market."
“Due to being relocated abroad, I needed to let the flat I was living in. First Union provided a One Stop Shop. They made the whole process of letting and managing the property so simple. From the initial valuation, through marketing to finding tenants and managing the property on my behalf. When returning to the UK, and needing to let the property again, First Union was the only company I contacted due to the incredible service received in the past. The property is still successfully let and managed by First Union. The team provides a friendly and professional service that is rarely seen today. Use them with confidence.”
“An extremely comprehensive, amiable and competent approach that pervades every element of customer service.”
“Superb – I am so glad I went with First Union – they are great people to deal with and do a fantastic job – totally recommend them to anyone who needs a letting service and their sales team are brilliant too!”