Help with Mortgages

Whether you are a first time buyer, learning about mortgages for the first time, investing in a buy to let mortgage or need to re-mortgage but have bad credit, here at Beaumonts Estate Agents in Brighton we believe that the best way to prepare you for your mortgage decisions is to keep you as informed as possible about all the mortgage types available to you.

How much can I borrow? Calculate my mortgage payments? Calculate my monthly budget?

We can offer the following:

  • Mortgages
  • Re - Mortgages
  • Buy To Lets
  • Let To Buys
  • Life Insurance
  • Critical Illness Cover
  • Buildings and Contents
  • Accident, Sickness and Unemployment

Taking out a mortgage is probably one of the most important financial decisions you'll ever make. We offer many different types of mortgages. So, whether you are just stepping onto the property ladder or moving higher up it, we can provide a flexible range of mortgages tailored just for you.

Variable rate

The interest rate you pay changes when the lender changes their standard variable 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

With a capped rate mortgage, you have the security of knowing that your rate will not go above the capped rate, with the added benefit of lower monthly repayments if the standard variable mortgage base rate falls below the capped 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.

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.

Specialist Mortgages

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 - for young professionals

The guarantor mortgage is suitable if you are a young professional, for example a solicitor, doctor or accountant, 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.

Self-build - for people building their own home

A self-build mortgage allows you to borrow money in a number of pre agreed stages as your property is built. The process is relatively simple and only requires you to provide details of your proposed project, together with the costs involved.

Remortgages - for homeowners

A remortgage is an excellent way to raise money from 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.

How do I repay my mortgage?

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

By selecting an interest only or part interest only mortgage, you will only pay interest on a monthly basis and not reduce the capital balance of the loan.

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.

PLEASE NOTE: THE INFORMATION CONTAINED ON THIS WEBSITE DOES NOT CONTAIN ALL OF THE DETAILS THAT YOU NEED TO CHOOSE A MORTGAGE. MAKE SURE THAT YOU READ SEPARATE KEY FACTS BEFORE YOU PROCEED.

Note: Your home may be repossessed if you do not keep up repayments on your mortgage