Mortgages

There are many types of mortgages that are designed to cover the different borrowers and schemes that exist.  Often the choice is daunting though the best one for you will become obvious when we speak.

We can help you with….

  • Buying your first home as a First Time Buyer

    Are you looking to buy your first home, but are unsure as to what the best deal actually is for YOU? Do you know how much deposit you need to have to put down? With the number of deals out there is can often feel daunting knowing what the best mortgage is for you. We will be able to guide you through the process, from finding the right lender for your circumstances, to helping you with local solicitors. We will be with you right the way through, from the first call to moving in day.

  • Remortgaging to a better deal

    Is your current mortgage deal coming to an end? Are you wanting to explore the options that other lenders can offer? Unsure whether it is better to fix the payments or allow for some flexibility? Where we have access to a comprehensive panel of lenders, we will be able to find you the best lender based on your circumstances. Most re-mortgage lenders also offer a free valuation and free conveyancing meaning the cost of moving to a better deal in most cases is reduced.

  • Remortgaging to raise extra funds

    Remortgaging to raise extra funds is becoming more and more common, with people borrowing against the equity in their home for a few reasons. You may be looking to complete some home improvements; from a cosmetic overhaul to extensions and loft conversions. Remortgaging allows you the opportunity to draw out some of your equity to pay for this. You may also be looking to consolidate some debts that you have, such as loans or credit cards. This is also something that lenders will allow you to do. We will be able to help tailor which lender is best for you based on what you are looking to achieve.

    Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, you should think carefully before securing other debts against your home. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service.

  • A mortgage because you are moving to a new house

    Moving to a new home can be for any number of different reasons; the family is getting bigger so more space is needed, likewise your children may have left home so you no longer need the space and are looking to downsize. You may fancy a bit of a project for your next home and a chance to put your own stamp on a property. With lenders offering so many different options, we will guide you through the best option for you based on your circumstances and help you make this move as seamless as possible.

  • Help with a mortgage because of your Credit Score

    Are you worried that a low credit score will stop you from getting the mortgage that you are after? Do you have a limited credit history that may cause your score to be lower than it should be? There are lenders now who are not concerned by what your credit score is as the prefer to focus on how well you have conducted the accounts on your credit profile. And with lenders going up to 95% the mortgage you want could be closer than you think.

  • Contractor and Self-Employed Mortgages

    Are you self-employed and worrying about your mortgage options? Are you wondering how many years tax returns you may need? Most people believe you need to have at least 3 years self-employed history before you can get a mortgage, when in fact it is often less than this with some lenders working off as little as 1 years tax returns.

    Or is your income based against a contract and is paid on an hourly or daily rate? Have you been turned away by your bank because your income is not ‘normal’? Have you wondered “Can I get a mortgage with contract income?” The answer is yes. The number of lenders that lend using contract income is rapidly growing so let us help guide you through your options.

  • Further advances to raise additional funds

    Are you looking to raise some additional funds from your current home but are tied in to a deal and you don’t want to pay any early redemption penalties? A further advance is where you borrow more money from your existing lender, allowing you access to the funds you require without incurring costly early repayment charges. We will be able to guide you through what is, in most cases, a simple process to obtaining the funds you need.

    Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, you should think carefully before securing other debts against your home. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service.

  • Exercising your Right to Buy

    Are you a local authority tenant in the Portsmouth, Southampton and wider Hampshire area, and have the option to buy your property? Did you know that most lenders allow you to use the discount you receive as your deposit, and don’t require a deposit from yourself? Looking to upgrade the kitchen or bathroom at the same time? A lot of lenders will lend you additional funds to complete the home improvements you are after.

  • New Build Mortgages

    When you purchase a new build property, it is typical from the developer that the exchange of contracts happens rather quickly after your offer has been accepted. In this instance you need a lender who is responsive to your need for speed. We will save you time and effort by finding the lender who not only is the best outcome for your situation, but also able to react quickly to the demands placed on you by the developer.

  • Help to Buy

    Help to Buy is an excellent way for both First Time Buyers and people who already own their own home to get on the property ladder or use this as a stepping stone to a larger property. With the Help to Buy scheme you obtain a 20% equity loan (or 40% in London) from the government with just a minimum of 5% deposit from yourself. The number of lenders that support the Help to Buy Scheme is always growing, and we will help you all the way through the process. From applying for the Help to Buy loan to liaising with the property developers.

  • Flexible Mortgages

    A flexible mortgage is a type of mortgage where you are able to overpay regularly but also at the same time underpay on the mortgage, and is designed to be flexible around your needs as a borrower. Another key part to a flexible mortgage is the ability to take a short payment holiday, once approved by the lender.

  • Buy to Let or Let to Buy Mortgage

    A Buy to Let mortgage is a property that is let out to tenants who then provide you with a monthly rental in return. This area of the mortgage market is ever-increasing with lenders offering schemes for First Time Landlords, First Time Buyer-First Time Landlord, experienced landlords and more recently Limited Company Buy to Let. Unsure as to what deposit you will need to put down to purchase a Buy to Let? Some lenders will allow as little as 20% as a deposit, but we will help you through the process of this from your initial enquiry to picking up the keys to the property.

    A let to buy is where you turn your current residential into a buy to let, and in some cases take some of the equity out of the current home to fund a new residential home. You may be looking to move to a bigger property but don’t wish to sell the current home. This is the perfect way of keeping hold of home whilst allowing you to purchase a new property.

  • Key Worker Mortgage Schemes

    Whilst there are no current Key Worker Schemes, there are other schemes which the Government supports such as Help to Buy and Shared Ownership.

  • Larger Mortgages

    When it comes to borrowing a larger mortgage, lenders will, in most cases offer a concierge service to ensure that the process is as smooth as possible. Every lender will have slightly different deposit requirements, so we will be able to talk you through the best option for you based on your individual circumstances.

  • Bad Credit Mortgages

    Are you worried that the blip on your credit profile means you aren’t able to obtain the mortgage you need? That isn’t always the case. Does your credit report indicate CCJ’s or Defaults, or even missed payments? The team here at MMS are experts in assisting when your credit profile may not be deemed as perfect and have access to lenders who are happy to help in these situations.

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