See how much you could save.

 

With literally thousands of mortgage deals to choose from, finding the best deal to suit your circumstances couldn’t be easier. At Baillie & Baillie we work closely with fully regulated and authorised mortgage specialists who can source the best mortgage options for you – either over the phone, at their offices, or even online!

 

  • You will have access to every major lender plus many that you won’t find on the High Street – A true Open Market search
  • The latest mortgage software means you can be updated in real time of the best deals as and when they come onto the market
  • Our advisers will arrange all the paperwork and administration
  • Life assurance, income protection and critical illness arranged if required

 

For more information or a FREE quote get in touch today.

 

Useful Information.

 

Mortgage Types

When it comes to exploring the mortgage options available, you will find there are many different ways in which interest can be charged on your mortgage.

 

Fixed Mortgages
The interest rate remains the same for the period of the deal, which is usually for 3 – 5 years, but can be for as long as 10 years.

Tracker Mortgages
The interest rate on a tracker mortgage is linked to the Bank of England base rate.

Variable Mortgages
The interest rate on a variable mortgage is a lender’s “default” rate without any limited-term deals or discounts.

Discounted Mortgages
The interest rate on a discounted mortgage is essentially the lender’s Variable Rate with a set percentage discount applied to it.

Offset Mortgages
An offset mortgage is linked to your savings and current account, and instead of earning interest on your balance you pay less interest on your mortgage.

 

Help to Buy – what you should know.


Help to Buy Mortgage Guarantee Scheme
The Help to Buy mortgage guarantee scheme was launched in October 2013 and is available nationwide, giving eligible buyers access to 95% mortgages for both traditional and new build properties.

Through this scheme the UK government provide a guarantee to mortgage lenders that protect them up to 15% of the mortgage amount in the event of repossession. This guarantee allows mortgage lenders to provide 95% mortgages at affordable interest rates as the risk to the lender is reduced.

This phase of the scheme is also available to both first time buyers and homemovers who have a minimum 5% deposit and can afford the mortgage repayments on a 95% mortgage.

Help to Buy Equity Loan Scheme
This scheme gives buyers the opportunity to buy a new build home from a participating developer with just a 5% deposit, which will then be accompanied by an equity loan from the government for up to 15% of the property value. As a result, a buyer participating in the scheme would only require a 80% mortgage, putting home ownership in reach for those who cannot afford large deposits traditionally needed and the high monthly repayments which would normally be found on a 95% mortgage.

The Help to Buy scheme differs from traditional Shared Ownership schemes as the buyer always remains the only owner of their property. In Scotland the equity loan remains interest free for the duration of the loan.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. 

 


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