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59: UK Mortgage Lenders - key listing and guide


02-25-2006

PropertyInvesting.net can provide a listing of key UK mortgage lenders. Please note - we do not receive any commission from this listing and hence it is objective and impartial. Investors are advised to shop around to get the best deal for their objectives, in relation to such criteria as:

For more information from PropertyInvesting.net on borrowing - click here.

 

HSBC Mortgages Switch to us and save for the life of the loan with our price promise
www.hsbc.co.uk

Flexible Mortgages UK We refund your valuation up to £250 Save money with a flexible mortgage
www.scottishwidows.co.uk

First Active Mortgages Voted Best Online Mortgage Lender. See how much you could save.
www.firstactive.co.uk/

Compare all UK Mortgages Impartial search +7500 mortgages Simple online form finds offers
www.easy-quote.co.uk

Chelsea Building Society Are you sure what the future holds? Fix your mortgage rate with Chelsea
www.thechelsea.co.uk

RBS Mortgages For a great 2 year Tracker MortgageUse Our Mortgage Calculator
www.rbs.co.uk/mortgages

Low Rate Mortgages Uk Cheap Mortgages Uk Deals (aff) Apply Online - Quick Approvals!

Mortgage.Bargains.igh.co.uk

Mortgages from West Brom Wide range of mortgages, low rates. Instant online decision. Apply now.

www.westbrom.co.uk

Intelligent Finance www.if.com  Intelligent Finance mortgages.  Find out more at if.com.

Purple Mortgage Solutions www.purpleloans.com/mortgages  Struggling to find a mortgage?  Get a quote tailored to you

Remortgage?
www.beatthatquote.co.uk      Compare Up To 8500 From 1.79%  Free Quotation Without Obligation.

mortgages uk
www.easy-quote.co.uk      Impartial search +7500 mortgages  Simple online form finds best offer

Compare UK Mortgages Here
www.moneysupermarket.com      Save money on your mortgage. Search  8500 deals. Quick & easy to use.

First Active Mortgages
www.firstactive.co.uk/      Voted Best Online Mortgage Lender.  See how much you could save

Flexible Mortgages UK
www.scottishwidows.co.uk      We refund your valuation up to £250  Save money with a flexible mortgage

 

RBS Tracker Mortgage
www.rbs.co.uk/mortgages      Could we lower your repayments?  Use Our Mortgage Calculator

 

Low Cost Mortgages Uk
Mortgage.Bargains.igh.co.uk      Free Mortgage Quotes (aff)  Hilariously Low Mortgage Rates!

 

Mortgage auctions to save
www.mortgagebundles.com      Free bulk buying to find a mortgage  Borrowers bundled and lenders bid

Low Rate Mortgages
Mortgage.Bargains.igh.co.uk      Cheap Mortgage Deals! (aff)  Compare UK Top Mortgage Bargains

Mortgages Uk
www.Top4Search.net/TopMortgages      Compare The Leading Mortgage  Lenders & Get The Top Deals

Guaranteed 110% Mortgages
www.48hrMortgages.comUK      No Credit Scoring-Same Day Decision  If we can't help you, Nobody can

Compare 8500 UK Mortgages
www.arrow1066.co.uk      Compare Every UK Mortgage. Request  A Mortgage Quote or Apply Online.

Compare mortgages online
www.MoneyNet.co.uk      Moneynet searches 1000s of rates  to find you a great value mortgage.

Mortgages Uk
www.find.co.uk      Compare UK providers. Get great  rates & a wide choice here!

Which? Online review
trial.which.co.uk/      Unbiased uk mortgages advice  And 100s more consumer topics

Remortgages
www.Top-UK.co.uk      Advice And Information, Offers  100% Available, Easy Comparison

Top 10 Mortgage Lenders
www.searching4finance.co.uk      Search Our directory for the  Leading Mortgage Lenders in the UK

 

Mortgages Uk
www.GlobeAll.com/Mortgages      Compare Leading Mortgage  Providers At GlobeAll Search

Mortgages Uk
www.GlobeAll.com/Mortgages      Compare Leading Mortgage  Providers At GlobeAll Search

Mortgages Uk
www.personalfunding.co.uk      We'll beat any other quote for  loans, mortgages and remortgages

Uk mortgages
www.oneaccount.com      Live Your Life Differently And Save  Thousands With A One Account

Secured uk loans
www.loans.co.uk      Loans from just 7.9%APR variable.  Up to 125% of you property value.

UK Mortgages
www.onlyloans.co.uk      Find and compare the UK's  leading mortgages online

UK Money, Tax & Benefits
www.direct.gov.uk      Central & local government  services at your fingertips.

 

UK Mortgage Guide
www.mortgages.qck.com      Mortgages explained. Calculator.  Compare UK mortgages.

 

Mortgage Comparisons
www.bargain-bucket.com      UK Mortgage Searcher Online!  Compare Mortgages & Lenders

 

Quick Mortgage Calculator
www.irishpermanentintl.com      Calculate Your Mortgage Repayments  & Get Pre Mortgage Approval

 

How i earn £14,577 a week
www.getrichathome.co.uk      Entrepreneur reveals all. This  business will earn £14k a week

 

I'm Rich. You're Not.
www.TheRichJerk.com      See how I make $3 Million per year.  But keep the drooling to a minimum

 

International mortgages
www.propertyfinancelink.com      Looking for mortgage finance?  Try our international brokerage

 

Looking for a Mortgage?
www.FinanceSpot.co.uk      Compare all types of mortgages  here. Find the right one for you.

 

Mortgage Rates UK
mortgagerates.co.uk/mortgage.htm      Compare rates for  mortgages in the UK.

 

Mortgage Applications
www.internetbanker.co.uk      Compare available mortgages. Low  rates, fast replies. Apply online!

 

Find UK Mortgages Here
www.uk-loans-mortgages.com      Free service searches the UK market  to find you a low rate mortgag

 

Mortgage Uk
www.creditsecrets.co.uk      UK Credit Secrets Revealed! Remove  CCJs, Bad Debts. Get Loans. Act No

 

uk mortages
UK-Mortgage-Loans.blogspot.com      Cheap Mortgages, Fast Approval  uk mortages Apply Now

 

Mortgage Uk
www.mortgage-online101.com      Check out this website for  Mortgage Uk.

 

Mortages?
Fix-Bad-Credit.Info      Tried to get a Credit by Yourself?  Failed? I can Help You immediately.

 

Instant Mortgage Quotes
MortgageCorner.info      Low Rate Online Mortage Quotes  Free Real Time Mortgage Quote

 

mortgages uk
www.all-mortgage-info.com      Rates, quotes, calculators and news  Research your next Mortgage her

 

Uk Mortgage
www.local.co.uk      Find a range of local UK websites  about Uk Mortgage.

 

Mortgage Uk
www.gooyeep.com/mus.htm      Mortgages And  Mortgage Information

 

Mortages Information
BusinessChambers.com      Articles, Tips & Expert Info about  Mortages topics online.

 

 

Mortgages Search
www.Searchy.co.uk      Search 15 UK Search Engines for all  information related to mortgages

 

uk mortages
www.shopperuk.com      Comprehensive UK focused  directory & search solution

Top 10 Mortgages
www.shopsonthenet.com/mortgages      Find the lowest mortgage rates  Search our competitive lende

NatWest Mortgages
www.NatWest.com/mortgages      Voted 'Best Bank for Mortgages'  Take the NatWest £1000 Challenge

Free Mortgage Quote
www.FreeMortgageGuide.co.uk      Tell us your mortgage requirements  and we will find you a great rate.

Top 10 Mortgages
mortgages.betterfinance.co.uk      Search our directory for the Top 10  Low rate Mortgages. Apply Online

 

UK Net Guide  

Types of UK Mortgages

You may be wasting your money with the wrong type of mortgage. Knowledge is power.

There are essentially two different types of mortgage:

Repayment only, (capital and interest mortgage)

Interest only, (ISA, pension or endowment mortgage)

Repayment only

Your monthly repayments consist of repaying the capital amount borrowed together with accrued interest. On your mortgage statement, normally received annually, you will see that the amount borrowed decreases throughout the term.

Advantages

At the end of the term, you are safe in the knowledge that the total amount of the debt has been repaid.

Overpayments and lump sum payments into your mortgage account can be made reducing both the interest and capital amounts repayable.

Life assurance cover is not always necessary in taking out this type of mortgage.

Disadvantages

There may be financial penalties for making lump sum/overpayments into your mortgage account.

In the early years of a repayment mortgage the majority of the monthly repayment is interest rather than capital. For borrowers moving house regularly, this can result in little of the capital being paid off.

If you have no life assurance cover in place and die before the loan is repaid, the mortgage will still need to be repaid. This may result in the property having to be sold to repay the debt owed.

Interest only

With this type of mortgage, only the interest is paid off with each mortgage payment. The borrower also takes out at the same time, an alternative ‘repayment vehicle’ (method of paying off the mortgage) such as an ISA, pension plan or endowment policy. More information about endowments (which in the 1980’s and 1990’s were extremely popular), ISAs and Pension plans are below. The most important fact about an interest only mortgage is that the monthly repayments do not repay any of the outstanding capital balance. As a consequence it is important that the payments are maintained into the repayment vehicle otherwise it will not be possible to pay off the mortgage at the end of the term.

Endowment

ISA Plan

Pension

Endowment

The most common type of interest only mortgage which also provides life assurance cover and a fixed payment for investment. The fixed payments are based on the amount of the loan together with the mortgage term and are designed so that, at maturity, the amount invested and earnings are sufficient to pay off the mortgage. Much maligned in the press because of the poorer investment growth rates achieved in a low inflationary environment this form of investment is less popular these days. Note there is no guarantee that, when the endowment matures and ‘pays out’, the balance will be sufficient to repay the mortgage.

ISA Plan

The Individual Savings Account (ISA) is a tax free method of saving. Using an ISA as a repayment vehicle is growing in popularity but due to the ISAs complexity it is only for the financially sophisticated or borrowers taking advice from a suitably qualified financial adviser.

Pension Plan

Life assurance cover is provided and monthly payments are made into a pension fund. When the benefits are eventually taken, the mortgage is repaid using tax-free cash from the remainder of the fund. The plan holder can then draw a pension from the balance of the fund. This product, which tends to be used by the self employed, is only for those taking advice from a suitably qualified financial adviser.

Discounted mortgages

Most of the discounted rates offer discounts over the first one, two three, four or five years. The total amount of discount on offer tends to work out approximately the same over the period of the discount. The choice is yours between making a choice between a large discount for a short period of time, a small discount over a long period of time or something in between. For example one product may offer a 3% discount over 2 years and another a 2% discount over 3 years. The total discount you receive in either case is 6% so the choice you are faced with is what period to take the discount over.

Cash back mortgages

These deals vary but, as the name suggests, you get cash –as well as the money you're going to be borrow for your home. You may use it to pay for home improvements moving costs and furniture etc.

Cash back deals are perhaps best seen as an incentive to go with a particular lender. It’s rarely a genuine gift and you will find that you have extended ties. There is nothing free in the mortgage market the lender will eventually make more than make their money back.

Current account mortgages

It’s becoming increasingly popular to combine a mortgage and a current (banking & cheque) account. Its good news if you like the option of making overpayments on your mortgage (e.g. if you are self-employed or receive bonus payments). The other advantage is that interest is calculated on a daily basis, so when you pay money into your account, like your monthly wage, the overall loan size is lowered, so reducing the total amount of interest paid.

Base Rate Tracker Mortgage

These can get very complicated but in theory they're simply a mortgage that follows the Bank of England base rate at an agreed rate.

So you might have a Base Rate Tracker Mortgage which sets your mortgage at 1% above the base rate for, say, the first two years.

Non standard mortgages

If you have experienced financial difficulty in the past or are unable to produce full proof of your income then you may find that the main stream lenders are unable to help you. However, we would recommend that you contact these lenders first as, depending on the severity of your situation; you may find that they are willing to help. If not, however, you will find that there are lenders who specialise in this area of the market. These lenders tend to charge higher interest rates or require larger deposits. Once you have re established your credit you can change to a standard mortgage.

Remortgage

You don't have to move home to move your mortgage. Many homeowners move their mortgage to a different lender to save money, or switch to a different mortgage with their current lender.

You may want to remortgage to

Improve your home.

Save money If you're paying your lender's standard variable rate (SVR), your existing lender - or another lender - may offer better rates if you move to a different mortgage.

Raise money if you want to improve your home, or pay off other borrowings, you may be able to increase your mortgage rather than taking out a separate loan.

Nicholas Marr
Marr International Ltd
Visit our overseas website for Mortgages abroad,mortgage advice and overseas property

http://www.homesgofast.com

Marr International is not registered under the UK financial services act to give advice regarding mortgages. Our partners specialising the different regions world wide for mortgage advice.

Article Source: http://EzineArticles.com/?expert=Nicholas_Marr

 

 

 

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