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There
are various schemes available i.e. fixed, capped, discount and variable.
Each type of mortgage has its advantages and disadvantages. We therefore
provide a service tailored to the individuals’ needs to ensure advice
is given on all available options. Only then will we recommend which
lender and scheme best suits your individual circumstances.
A brief outline of the options follows:
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Fixed
rate
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Here
the rate is guaranteed to stay fixed i.e. not to change for a specific
period of time, after which it can be expected to revert to the
lenders normal variable rate, or you may have the option to transfer
to a new fixed rate.
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Capped
rate
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This
is a form of variable rate where the rate stated is guaranteed not
to rise within a specified time period. It may fall during the capped
period, and can be expected to revert to the lenders normal rate
at the end of the capped
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Standard
Variable rate
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This
is the traditional type of mortgage interest rate in the UK, which
fluctuates from time to time depending on the governments economic
and monetary policy.
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Discounted
rate
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This
is a discount on the lenders normal variable base rate, lasting
for a
guaranteed period of time. It will vary in that period if the base
rate varies and will revert to the base rate at the end of the period.
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There
are also Flexible mortgages available, which may be offered from time
to time on any of the
schemes listed above. These schemes offer the ability to make overpayments,
underpayments and
payment holidays. They are often used by clients looking to shorten
the term of the mortgage, by making overpayments every month.
We adhere to the Mortgage Code, which is new legislation brought in
by the industry to ensure that good practice is offered. To get more
information on this you can visit www.mortgagecode.org.uk
As well as offering advice on mortgages for main residence, we can
also assist in the purchase of second properties, holiday homes and
buy to let property portfolios.
There are a number of ways in which to repay your mortgage such as
Capital and Interest, Endowment,
Pension and ISA. Through out connection with Scottish Amicable, we
are able to offer advice on which
method will best suit your individual circumstances. |
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UK
Rates
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Best
Rates
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| How
to apply for a mortgage with Internation Mortgages |
Normally,
providing your loan application has been approved, we will send you
an offer letter which gives details of the terms and conditions realting
to your particular loan.
As with all loans, there is a statutory 11 days cooling off period.
Obviously, we will be pleased to give you any information you require
at any time before, during or after your loan application to ensure
that you are entirely satisfied.
Even if you haven't found a property, we can still process your application
to give you an indication of how much we are likely to be able to
lend to you. Obviously, this will be subject to the property you choose
and its subsequent valuation.
At least, this will help you plan the price range in which to search
and enable us to push ahead with references, confirmation of salary
etc. |
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