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Make your house a home: What you NEED to know!

Buying a home for the first time can be a daunting experience and mortgages can be the most complex part in purchasing a home. 

Finding the right mortgage options for you can take time, so we’ve put together a quick guide to help explain the process to you.

How much deposit will I need to get a mortgage?

You will usually need a minimum deposit between 5% and 20% to receive a mortgage. Placing a bigger deposit could help lower your monthly mortgage repayments*

What type of mortgage rate is available to me?

‘Fixed rate’ mortgage payments will not change during the period the fix rate is set for.

‘Variable rate’ mortgage payments can usually increase or decrease with a variable rate.

There are more options available than the ones detailed, but whichever one you decide to choose, once the rate period comes to an end you can re-mortgage your home and find another deal.

Who can help me get a mortgage?

You can seek a mortgage from various providers such as your bank, building society or an independent broker. Our team of Mortgage Consultants are on hand to find you the best deal and search the whole of marketplace to help you achieve this.

What if I can’t pay my mortgage payments?

Taking out a Mortgage Payment Protection Insurance (MPPI) can help you cover your payments, if you have had an accident, become too ill, can’t work or you have been made redundant. Our Consultants can advise you on the most suitable plan for you.

Need more information?

If you would like further advice on getting a mortgage, CHN Financial Consultancy would be delighted to help you. Call 0113 3878240 or use the quick contact form to arrange an initial NO OBLIGATION review.

 

*Your home may be repossessed if you do not keep up repayments with your mortgage.

Clayton Holmes Naisbitt