Your mortgage is probably the largest financial commitment you will ever make and anyone who has ever purchased a house will know how stressful and time consuming it can be. That’s why we at Crystal Clear provide practical advice at every stage to save you time in this complex area.
Through our association with Legal & General Mortgage Club, we have access to exclusive deals that are not available in your high street bank. We can give advice which is totally tailored to your needs and requirements.
With so much choice and variety of interest rate options offered by lenders to suit many different purposes it's sometimes difficult to know which one to choose. Below is our guide to the most popular ones:
Standard Variable Rate - This is a standard interest rate, which a lender will set and can go up or down in line with market rates (such as the Bank of England’s base rate).
Discounted Rate - Some lenders offer mortgages where the initial interest rate is set at an amount below their standard variable rate for a set period of time. At the end of your discounted rate period, your lender will usually change your interest rate to their standard variable rate.
Fixed Rate - With a fixed rate mortgage, your monthly payment won’t change for a set period. At the end of your fixed rate, your lender will usually change your interest rate to their standard variable rate.
Tracker Mortgage - With a tracker mortgage, the interest rate charged by your lender is linked to a rate such as the Bank of England base rate. This means your payments can go up or down.
Offset Mortgage - With an offset mortgage, your main current and/or savings accounts are linked to your mortgage and are usually held with your mortgage lender. Each month, the amount you owe on your mortgage is reduced by the amount in these accounts before working out the interest due on the loan. Please note, linked accounts do not attract any interest.
Capped Rate or Capped And Collared Rate - With this type of mortgage, the interest rate is linked to your lender’s standard variable rate but with a guarantee that it won’t go above a set level (called the ‘Cap’) for a set period, but equally won’t go below a set level (called the ‘Collar`) for an agreed period of time.
We pride ourselves on our face to face services and do everything we can to ensure your mortgage is arranged as quickly, efficiently and professionally as possible. This means your consultant is on hand working closely with you, your estate agent and solicitor to keep you regular updated on progress.
Whether buying your first home or re-mortgaging, we are here providing a guiding hand to make the mortgage process go as smoothly as possible.
The initial consultation to establish your requirements is free. For mortgage advice, we charge an upfront fee of £199. A further fee may be payable up to a total maximum of £498 depending on your circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Crystal Clear Financial Planning Limited source from the whole of market, with the exception of bridging loans.
Crystal Clear Financial Planning Limited undertakes credit broking and is not a lender.
You may have to pay an early repayment charge to your existing lender if you remortgage.