MORTGAGE PRODUCTS

Greenoak Mortgages have access to many mortgage products not available on the high street, often on exclusive terms.

As mortgage experts we will provide the full spectrum of mortgage packages from banks and building societies alike. For example you may be a first time buyer, moving home, wanting to save money, re-mortgaging to a lower rate, buying to let or looking to finance an investment property. Wherever you are with your finances, it is our business to deliver the best possible deal to suit your individual circumstances.

Whatever your needs, being impartial allows us to find the right remortgage product for you.

We have no ties to any Banks or Building Societies and can therefore research from a vast range of remortgage products suitable for your needs.

As Mortgage Experts we are able to provide personalised advice on a host of areas as follows

Remortgaging

Buy to Lets

Your first home

You may be looking for a...

Fixed Rate

Tracker

Flexible Mortgage

Offset Mortgage

You may need...

A new lender

A lower rate

Additional borrowing

A new mortgage at the end of a finished rate

Mortgage Protection

Repayment Mortgage

Currently the most favoured mortgage by both customer and lender. Your monthly commitment consists of both capital and interest. In the early years the payment is primarily interest on the loan, with a small element being the capital. But as the years go by the capital payments increase, thereby reducing the loan.

Buy to Let Mortgage

Buy to lets are popular with those who wish to invest in the property market rather than stocks and shares or other mediums for Investment growth. Buy to lets are also popular with those who wish to use the rental income to supplement their own income now or in retirement.

You may wish to purchase a property for student lets or a HMO (Houses of Multiple Occupation). These tend to be for the experienced Landlord, the yields are greater but the Investment is more complicated.

There are many more Lenders entering this market, so its important you get the correct advice on finding right product and provider.

Flexible Mortgage

As the term would suggest you have flexibility and can vary the amount you pay each month, with the opportunity to take payment holidays. You can also pay larger amounts towards the mortgage without penalty.

Re-Mortgage

You would re-mortgage or replace your existing provider for a more competitive Interest rate. Or you may want a different type of Mortgage. Many Re-Mortgage to release Equity for Home Improvements, a Second home, Children’s Education or to repay an existing debt.

It is important to bear in mind your existing lender may have Early Repayment Charge, this would need to be checked before you switch lenders.

Discounted Variable Rate

These are opportunities to benefit from a genuine discounted rate against the lenders variable rate, and will go up or down dependent on the Bank Of England rate in the same way as a Standard Variable Rate mortgage.

Fixed Rates

Fixed rates are currently the most popular type of mortgage, with Fixed terms from 2 to 10 years. A Fixed rate mortgage allows you to budget for the future, knowing your monthly mortgage payments will remain the same. Longer term Fixed rate mortgages can protect against future Interest rate rises but you may have to pay an early repayment charge if you wish to switch, most are flexible enough to take with you if you move property.

Tracker Variable Rates

The mortgage rate is usually linked to the Bank of England base rate, and will increase and decrease in line with rate changes that are published each month.

Standard Variable Rate (SVR)

These are the standard rates charged by your lender and will move in line with rate changes published by the Bank of England. However the changes do not happen immediately, furthermore they do not always reflect the true rate adjustment, subsequently you do not always benefit from the change.

Offset Mortgages

Typically your current and savings accounts are linked to your mortgage, with the balance in both used to offset against your outstanding mortgage amount. Your monthly payments are calculated based on your outstanding balance.