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Mortgage Rates |
| The mortgage rates that you pay depends on the rate of interest which is determined by Bank of England every month. One of the major driving forces behind the UK interest rates is the overall state of the UK economy. Currently the UK economy is on the brink of recession. Ideally the interest rates should come down so lenders can reduce their
mortgage rates or mortgage rate. The This will ease the credit crunch which many families are feeling right now due to record levels of inflation. The rate of interest is currently set at 5 %. The mortgage rates set by most lenders will be a little bit higher that the Bank of England base rate. Its always a good idea to shop around and fund for best
mortgage rate available in the market. On this site we have highlighted best mortgage rates for various mortgage products available in the uk market |
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Best Mortgage Rates |
| You will often find that
best mortgage rates are offered when you first take out a mortgage from a lender or through a broker. The uk mortgage market is extremely competitive and offers various different kinds of mortgages. For the most popular mortgage categories we have compiled best mortgage buys or best mortgage rates tables. This would help anybody who is looking for best mortgage rates in a specific mortgage category such as Fixed Mortgage, Bad credit mortgage, Self Cert mortgages etc. Most lenders will offer
best mortgage rates around 1% of the Bank’s base rate. If the base rate of interest is low then a tracker mortgage will probably be the first choice for best mortgage rates. |
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Fixed Mortgage or Fixed rate Mortgage |
| A fixed mortgage or a fixed rate mortgage will basically give you a piece of mind that no matter what happens to interest rates your mortgage rate will not change. A
fixed mortgage can be taken for anything between 6 months to even 25 years. A
fixed rate mortgage is pretty attractive when the interest rates are going up. However if interest rates go down a fixed mortgage may become more expensive. You can choose a fixed mortgage from our best buy fixed mortgage table. Click here for best
fixed rate mortgage table. |
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Mortgage Calculator |
| A mortgage calculator allows you to calculate your monthly mortgage payments. A
mortgage calculator can also enable you to break down the monthly mortgage payments into interest payments and capital payments. Often when you want to take out a big mortgage a
mortgage calculator will be able to give you the maximum amount of loan that you could borrow. |
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Commercial Mortgage |
A commercail mortgage
can be used for buying or remortgaging any commercial
property.
Taking out a commercial mortgage is more complex than
taking out a residential mortgage.
Typically commercial mortgages are used to buy shops,
restaurants, offices, industrial
units, factories, warehouses etc. The interest rates for
commercail mortgages are slightly
higher than interest rates for a residential mortgage.
Click on commercial
mortgage link
to view our commercial mortgage page. |
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Remortgage |
| Most People will remortgage
to save money by choosing a better mortgage deal
currently available in the market. If you have equity in
your house you can remortgage to raise money for an
extension, making a new kitchen, loft conversion or for
an expensive purchase such as a car. Remortgaging is
meant to save you money over the long term but you may
have to incur some extra costs initially such as paying
the new mortgage fees, old mortgage redemption fees and
solicitors fees. Always think carefully before you
remortgage and make sure you read the small print before
taking decisive action. Click here for our best buy
remortgage table. |
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Buy to let mortgage |
Buy to let mortgage is a
mortgage which is used to buy an investment property. In
the past
buy to let mortgage was considered a commercial
mortgage with much higher interest
rates. A buy to let mortgage has its on criterion and
most lenders will expect the
monthly rent to be more than the mortgage payments.
There are many buy to let mortgages
on the market. Click here for our best
buy to let mortgage
table |
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Bad credit mortgage |
| Bad Credit Mortgage is for
people who have faced financial difficulties in the
past. As a result they had CCJs issued against them or
have arrears in their credit file since they have been
unable to pay their household bills, credit card
statements or mortgage payments. Bad credit mortgage
will help these people to get a mortgage and get back on
the property ladder. Click here for our best
bad credit mortgage |
