Mortgage Adviser Cambridge
Professional Mortgage Advice
Because the loan is secured, mortgages are considered to be a lower risk than an unsecured loans like a personal loan from a bank, for example. Hence the lender can afford to lend on more favourable terms, at a lower interest rate and over a longer period.
The main types of mortgages are: residential mortgages; second home mortgages; buy to let mortgages; equity release mortgages and commercial mortgages (a loan to a business).
Different rules apply under different circumstances so arranging a mortgages can be a minefield and take a frustrating amount of time and energy. An experienced mortgage adviser will, therefore, save you a lot of time and money.
Applying for a mortgage
Your mortgage adviser will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is used to provide an indication of how much a lender might be prepared to lend you and on what terms. They will also give you key information about the product, their service and any fees or charges if applicable.