0161 491 4000
Here at Callaghan Estate Agents we can help you not just find your ideal property but also help you arrange the mortgage to proceed with the purchase.
We have access to a wide range of mortgages to suit all clients: First time buyers, Buy to let mortgages for those investing and Re-mortgage clients.
We can offer the following:
- Mortgages
- ReMortgages
- 100% Mortgages
- Buy To Lets
- Let To Buys
- Life Insurance
- Critical Illness Cover
- Buildings and Contents Insurance
- Accident, Sickness and Unemployment Insurance
We can help you fnd out the following:
How much you can borrow?
Calculate your mortgage payments?
Calculate your monthly budget?
Types of Mortgages:
Variable rate
This is the rate of interest you pay and lenders can change this frequently based on the mortgage base rate.
Discount Rate
Discount mortgages offer you a discount compared to the standard variable mortgage rate. This is usually for a specific period, then the rate reverts to the standard variable mortgage base rate for the remainder of the mortgage term.
Capped rate
The rate here will never go higher than the capped rate but could go down. This is usually for a specific period, then the rate reverts to the standard variable mortgage base rate for the remainder of the mortgage term.
Base rate tracker
The interest rate is linked to, but may not be the same as, the Bank of England base interest rate. When there is a change to the Bank of England base rate your mortgage payment rate will reflect this.
Fixed rate
With a fixed rate mortgage you pay a fixed amount each month for a specific period, often two to five years, or sometimes longer. The advantage is that you know exactly how much you will have to pay each month so you can budget more easily. After the fixed term has ended, your interest rate will revert to the standard variable mortgage base rate for the remainder of the mortgage term.
Cashback mortgage
- for people who need extra cash to set up home
A cashback mortgage gives you a percentage of the amount you borrowed as a cash lump sum 14 days after completion of your mortgage. This cashback could make it easier for you to afford all you need for your new home. Offset mortgage - for people with savings
This allows you to offset your savings against the value of your mortgage balance. This online offering could save you thousands of pounds and reduce the term of your mortgage.
Guarantor mortgage
A guarantor mortgage is suitable if you are a young professional, for example a teacher or solicitor who would like to take out a mortgage on a property but are unable to cover the repayments on your current income. The guarantor mortgage allows one of your close relatives, usually a parent, to provide a guarantee for the loan.
Remortgages
A remortgage is a way to raise money tied up in your home for a whole range of purposes. You could use it for a holiday, a car, home improvements, to consolidate loans or to boost your income. If your home has increased in value and the mortgage is significantly less than the value of your home, a remortgage might be very attractive. Most probably, your current repayments are well within your means and you want to access the cash that is tied up in your house.Repayment mortgage
This involves you paying back the capital and interest over a number of years. You will pay interest on the amount borrowed from us as well as paying off the capital borrowed. At the end of the mortgage term, providing all monthly repayments have been paid when due, you will have repaid all the interest and capital balance outstanding on your mortgage.
Interest only
You are responsible for ensuring that you will be able to pay off the loan at the end of the mortgage term. This means that you are responsible for making suitable arrangements for repaying the loan.
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