Mortgage Process

Mortgages made easy

Finding and getting a mortgage can be one of the biggest financial decisions we make in our lifetime. This means buying a property can be a stressful and time consuming experience for many, so we are here to keep the process as simple and as easy as possible, and help you select the most suitable mortgage, rather than simply accepting a lender’s offer.

We offer friendly advice and support throughout the entire process, from choosing the right mortgage for you, to getting your keys and starting a new chapter of your life.

Banks, building societies, and smaller niche lenders compete for your business, all offering a variety of interest rate deals, associated fees and other enhancements to attract borrowers.

There are two main methods of repaying a mortgage, repayment (capital and interest) and interest only. It is also sometimes possible to set up a mortgage by using a combination of the two. To help you understand which may be the best option for you, we have explained both methods below.

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"Fantastic experience with Jen who not only managed to find us a mortgage in these difficult times but shepherded us through the whole house buying gauntlet".

"Just wanted to say thank you so much Jen, you have again surpassed our expectations, thank you for dealing with me and my ever changing mind."

Repayment (capital and interest method)

Under the repayment method your monthly repayments consist of both interest and capital, so over time, the amount of money you actually owe will decrease. In the early years of your mortgage agreement, your repayments will be mainly interest and therefore the outstanding capital will reduce slowly at first.

This method ensures that the mortgage is repaid at the end of the term providing all payments are made on time and in full.

As a mortgage is secured against your home, it could be repossessed if you do not keep up with the mortgage repayments.

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Interest-only Method

As the name suggests, with the interest only method you only repay the interest on the amount borrowed. At the end of the term the capital is still outstanding. Therefore you will usually need a contingency for repaying the mortgage at the end of the term. It is very important to get advice on this type of method.

Traditionally the preferred product for repaying the capital of an interest only mortgage was a mortgage endowment policy (which included a set amount of life cover) – although more recently customers are using Individual Savings Accounts (ISAs) and pensions to build up a sufficient sum and taking advantage of the tax breaks offered by these products.

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"Jen was an absolute star from start to finish, always on call to answer any questions and concerns, and she made the whole experience as easy as possible."

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Property Link Homes Ltd is Registered in England & Wales, Company Number 05234968. Registered Office address: 10-10A North Street, Ripon, North Yorkshire, HG4 1JY.

Authorised and regulated by the Financial Conduct Authority. Property Link Homes Ltd is entered on the Financial Services Register https://register.fca.org.uk under reference 429765.

The guidance and or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted to customers in the UK.

If you wish to register a complaint, please write to [email protected] or telephone 01765 360061 A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at https://www.financial-ombudsman.org.uk or by contacting them on 0800 0234 567.

Property Link Homes
10-10A North Street
Ripon
North Yorkshire
HG4 1JY
(Above Joplings)

01765 692 331
[email protected]

Mortgages