AFP Mortgage Services have access to a wide range of products from High Street Lenders and specialist products not available direct.
AFP Mortgage Services are impartial Mortgage Advisers and can search the market on your behalf to seek out the most appropriate mortgage for your needs and circumstances. We will do our best to help you find the most competitive mortgage product for your individual circumstances. We act on your behalf and can recommend mortgages from a comprehensive panel, with many High Street and specialist lenders.
We can help arrange the following mortgages:
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 you the years go by the capital payments increase, thereby reducing the loan
Re-Mortgage
To re-mortgage is to simply replace your existing mortgage or increase your mortgage with another lender.
You may do this to save money with a more competitive rate offered by a new lender. It is important to bear in mind charges that could be applied such as an ERC (Early Repayment Charge) before you switch lenders.
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.
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.
Interest Only Mortgage
With this type of mortgage the repayment consists entirely of interest.
This product may appear cheaper but as you are not repaying any capital the entire mortgage will still be owed at the end of the mortgage period. Consequently it is vital that you have a credible arrangement in place to repay the loan, this is usually an investment vehicle such as an ISA that you make contributions to during the period of the mortgage.
Exclusive Mortgage Deals
AFP Mortgage Services have access to preferential rates from a number of lenders which are not available to all firms in the market or direct from lenders.
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, consequently you do not always benefit from the change.
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.
Buy to Let Mortgage
BTL mortgages are for people who want to let the property.
The main difference is that the affordability is based on the rental income of the property to let. But some lenders will also take into account the landlords income. There is a huge choice to suit first time landlords and the professional landlord with a large portfolio. AFP Mortgage Services have a wealth of knowledge in this arena with 35% of our business managing BTL mortgage arrangements.
Fixed Rates
As it says on the tin your rate will be fixed for a period of the mortgage, with 2 years, 5 and 10 years being the most popular choices.
The biggest benefit is that they give you the security of knowing exactly what your commitment will be over the fixed period.
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.
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