A Whole of Mortgage Solutions - Found the home of your dreams and don't know if you can afford it?

mortgage deals online, mortguages, morguages, morgages, online mortgage brokers, mortgage offers, instant online mortgage quote, property finance, interest only mortgages, self cert mortgages, self certified mortgages, self certification mortgages, repayment mortgages, pension linked mortgages, self build mortgages, buy to let mortgages, let to buy mortgages, commercial property mortgages, capped mortgages, flexible mortgages

Mortgage loans or real estate loans are loans used to purchase land or buildings such as houses or factories. These are typically long-term loans and the interest rate charged can be either a variable or a fixed rate for the term of the loan, which often ranges from 15 to 30 years. The land and buildings purchased serve as the collateral for the loan.

Surfing for the best Mortgage Deals The Mortgage Specialists

Mortgage World Online
quote about us meet the team contact us Independent Mortgage Advice

Self Build Mortgages

The self build mortgage has been developed for those people who are building their own home or who have decided to make major renovations to their existing property.

There are two ways by which a self build mortgage is paid to the borrower; advanced and arrears. The advanced method is when the lender will advance the borrower the 'stage amounts' to fund the build prior to each stage of the build. This is the most sought and attractive for the borrower as it means that the cash is instantly available for materials etc. The arrears payments are when the lender releases the mortgage in sections after each stage build after inspection from a surveyor. This is more suited to the lenders are they get a surveyors report to state the quality of the build to ensure that the property will cover the mortgage should repayments not be met.

As a rule of thumb repayments are in five stages but this can vary between different lenders.

For more details on self build mortgages contact one of our team today.

 

Mortgage World (NE) Ltd, Registered Office: 233 High Street, Gateshead, Tyne & Wear, NE8 1AS, Registered in England No 3853239

FOR PROPERTY IN THE NORTH EASTProperty Mortgage
> Looking to buy