Mortgage

First Time Buyer Mortgage

Getting a mortgage for the first time can be both confusing and daunting. Which type of deal should you go for and how big a mortgage will you be able to take out?
We can take you through the mortgage application process from start to finish, offering expert guidance as to which kind of first time buyer deal might suit you best, so that you can get onto the first rung of the property ladder as painlessly as possible.
Your mortgage is likely to be your biggest monthly outgoing, so it’s important to get it right first time round.

Mortgage Product we offer
– Fixed rate mortgage
– Tracker mortgage
– Discounted Rate Mortgage
– Capped Rate Mortgage
– Variable rate mortgage
– Repayment
– Interest Only Mortgage
– Cash Back mortgage.
– Right to Buy Mortgage
– Shared Ownership mortgage
– Help to Buy mortgage.

Choosing the best option and implementation will be made easy by our mortgage advisers who will guild you through with our knowledge and tools to make a smooth journey

Contact our Adviser by completing free initial consultation enquiry form

A retirement interest-only mortgage

A retirement interest-only mortgage is very similar to a standard interest-only mortgage, with two key differences.
1. The loan is usually only paid off when you die, move into long term care or sell the house.
2. You only have to prove you can afford the monthly interest repayments.

While there’s no minimum age requirement, retirement interest-only mortgages are generally aimed at older borrowers, such as the over 55s, over 60s and pensioners who might find them easier to qualify for than a typical interest-only mortgage.
In this way, they’re similar to types of equity release schemes like a lifetime mortgage, where you pay-off the original capital and possibly any interest when you die or move into long-term care.

However, with a lifetime mortgage you will either:
· have a larger amount to repay at the end because there are no monthly repayments and the interest is rolled-up and added to the total loan value, or
· Make monthly interest payments and ad-hoc capital repayments during the term of the mortgage. This reduces or stops the effect of interest roll-up, but involves higher monthly repayments.
But, with a retirement interest-only mortgage, you only pay off the interest each month, so your monthly repayments will be lower.
This means you should be more likely to have something to pass on as an inheritance, or pay for long-term care.

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.

Shared Ownership mortgage

Shared equity schemes have been a scheme in the market for several years and have primarily been offered by:
· House builders,
· Local authorities
· As part of government initiatives to help first time buyers onto the property ladder.

Typically, they allow you to combine a small deposit with a lower than average mortgage size by providing you with an ‘equity loan’, covering a percentage of the property’s value.
You might start to repay the equity loan gradually after a set number of years – or in full, including when you come to sell the property.
The value of your equity loan generally fluctuates with the value of your property, so the amount you’ll pay depends on the value of the property at the time you repay. And the amount of stake you acquired during the term of your ownership for more information our adviser are happy to give you a tailored advise and work out what is an appropriate option with you

Self-Built Mortgage

If you plan to build your own house, you need a specialist mortgage because most deals can only be used to buy houses that have already been built.
As it very difficult to get what you really want when a builder developed a unit of homes that might not meet your individual taste of home and canners. Why not consider building your ideal home and stay happy forever.
Many larger lenders do not offer them, but several building societies and smaller banks do. This comparison includes every self-build mortgage available in the UK.
If you need help finding the right mortgage, you could contact us at Mor-Invest for advice.

How do they work?
Self-build mortgages transfer money to you in stages as you build your house. You can usually have money released to:
-Buy the land
-Build the foundations
-Construct the house’s shell
-Finish the plastering, plumbing and electrical wiring
-Complete the project and get the home valued

When do you get the money?
This depends on whether your mortgage offers:
Arrears stage payment, which releases money when you complete each stage of the build and can prove how much it cost. You usually need to find a way to pay for materials and work in the meantime.
Advance stage payment, which releases money before you need to pay each bill.

How much do they cost?
You usually need a larger deposit if you want to build your own home. Mortgages come with a loan to value (LTV), which is the percentage of the property’s value they can cover.
Self-build mortgages often have a separate limit on how much you can borrow for:
Speak to our dedicated Mortgage Adviser who will give you most appropriate advice and appropriate lender in the market that will work with you on your journey.

Re Mortgage


If you’ve got a mortgage on your home, it’s well worth checking to see whether you might be able to remortgage to a better deal.
Remortgaging, particularly if you are currently languishing on your lender’s standard variable rate, could potentially trim tens or even hundreds of pounds off your monthly mortgage payments. There are plenty of other reasons you might want to remortgage, as well as saving money. Perhaps you want to borrow money against your property to cover the cost of home improvements, pay off more expensive debts or even raise money to purchase another property?
Whatever your remortgage requirements at Mor-Invest we are here to help. We can provide you with expert mortgage advice on the most appropriate mortgage deal to make the remortgage process as straightforward as possible and determine the best advice for your individual needs

Optional products
– Fixed rate mortgage
– Tracker mortgage
– Discounted Rate Mortgage
– Capped Rate Mortgage
– Variable rate mortgage
– Repayment
– Interest Only Mortgage

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

Buy to Let Mortgage

Whether you are looking to expand an existing rental property portfolio, or you are thinking of becoming a landlord for the first time, you will need to take out a buy-to-let mortgage rather than a standard residential mortgage. As the name suggests, a buy to let mortgage is a special type of mortgage which is specifically designed for people who are buying a property as an investment portfolio

What’s difference between a Buy to let mortgage and a residential Mortgage?
You can get a buy-to-let mortgage if:
· You’re under a certain age: lenders have upper age limits, typically between 70 or 75. This is the oldest you can be when the mortgage ends not when it starts.
· You want to invest in houses or flats
· You can afford to take a risk: investing in property is risky, so you shouldn’t take out a BTL mortgage if you can’t afford to take the risk.
· you already own your own home, whether outright or with an outstanding mortgage,
Some lender still required to meet minimum Income level to prove that you can afford the rental void on your repayment.
Consumer buy to let
Consumer buy to let is a regulated mortgage, lender treat the borrower the same way as those arranging a mortgage to buy a home for themselves. This means that the lender must carry out affordability checks, provide advice and follow all application and documentation requirements
Speak to our dedicated Buy to let mortgage Adviser at Mor-Invest to Arrange and implement suitable option for you today

Shared equity or Partnership Mortgages

With a shared equity mortgage or Partnership Mortgage a lender will agree to give you a loan alongside your main mortgage in return for a share of any profits when you sell your house or repay the loan. Find out how shared equity mortgages work, the different types and who they are suitable for

Guarantor Mortgage
At Mor-Invest we know that taking the first step onto the property ladder can be difficult. You might be on the path to earning more money but right now you are unable to borrow enough to buy. With the help of a family member acting as your guarantor you could overcome this hurdle. Our team of expert mortgage advisers are on hand to show you which lenders can offer guarantor mortgages and who can help when you’re limited by yourself.

Lifetime mortgage

How does a lifetime mortgage work?

A lifetime mortgage is when you borrow money secured against your home, provided it’s your main residence, while retaining ownership. You can choose to ring-fence some of the value of your property as an inheritance for your family. Additionally, some providers might be able to offer larger sums to those with certain medical conditions. The home still belongs to you and you’re responsible for maintaining it. Interest is charged on what you have borrowed, which can be repaid or added on to the total loan amount. When you die or move into long-term care, the home is sold and the money from the sale is used to pay off the loan. Anything left goes to your beneficiaries. If your estate can pay off the mortgage without having to sell the property they can do so. If there is not enough money left from the sale, your beneficiaries would have to repay any extra above the value of your home from your estate

Types of lifetime mortgages


There are two different types with different costs you can choose from:
· An interest roll-up mortgage: you get a lump sum or are paid a regular amount, and get charged interest which is added to the loan. This means you don’t have to make any regular payments. The amount you borrowed, including the rolled-up interest, is repaid at the end of your mortgage term when your home is sold.
· An interest-paying mortgage: you get a lump sum and make either monthly or ad-hoc payments. This reduces, or stops, the impact of interest roll-up. Some plans also allow you to pay off capital, if you so wish. The amount you borrowed is repaid when your home is sold at the end of your mortgage term. Click here to inquire.

With a lifetime mortgage, you take out a loan secured on your home which does not need to be repaid until you die or go into long-term care. It frees up some of the wealth you have tied up in your home and you can still continue to live there



Lifetime Mortgages will reduce the value of your estate and can affect your eligibility for means tested benefits.

Commercial Mortgages

Commercial Mortgages (By Referral Only)
Commercial Mortgages work like normal mortgages but let you buy one or more properties to use for your business, or rent out as an investment. Depending on your business, you could be offered quotes for interest only or repayment mortgages. Some lenders offer interest rolled up mortgages, which you make no payments on until the end of the term. The loan is secured against the property, and you can get a loan to value of up to 75%. This means you need a deposit or equity of at least 25%. Some let you use the equity in another property you own instead of a deposit.

Buy To Let

Whether you are looking to expand an existing rental property portfolio, or you are thinking of becoming a landlord for the first time, you will need to take out a buy-to-let mortgage rather than a standard residential mortgage. As the name suggests, a buy to let mortgage is a special type of mortgage which is specifically designed for people who are buying a property as an investment portfolio.

Bridging Finance

Bridging Finance (By Referral Only)

Bridging loans are temporary short-term loans that help potential home owners to ‘bridge’ financial gaps when purchasing new property. They are often used to acquire a new property while waiting for the close on the sale of another. Most home owners e bridging loans on on new properties while their present property is sold.
​Bridging loans are considered a specialist, short-term and flexible finance option whose application range from residential to commercial property refinancing.

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Your home may be repossessed if you do not keep up repayment on your mortgage.

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Mortgage Affordability Calculator

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Your home may be repossessed if you do not keep up repayment on your mortgage.

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