Mortgage Light

Call Phone Icon01908 597655
New Homes Hotline – 01908 870017
01908 597655
New Homes Hotline – 01908 870017
  • About
  • Mortgages
    • Remortgaging
    • Help to Buy Remortgages
    • Help to Buy Mortgages
    • Shared Ownership Mortgages
    • Bad Credit Mortgages
    • Buy to let Mortgages
    • High Net Worth Mortgages
  • Protection
    • Home Insurance
    • Life Assurance
    • Critical Illness Protection
    • Income Protection
    • Business Protection
    • PMI (Private Medical Insurance)
  • Existing Customers
  • Blog
  • Contact Us
  • Partnerships
  • About
  • Mortgages
    • Remortgaging
    • Help to Buy Remortgages
    • Help to Buy Mortgages
    • Shared Ownership Mortgages
    • Bad Credit Mortgages
    • Buy to let Mortgages
    • High Net Worth Mortgages
  • Protection
    • Home Insurance
    • Life Assurance
    • Critical Illness Protection
    • Income Protection
    • Business Protection
    • PMI (Private Medical Insurance)
  • Existing Customers
  • Blog
  • Contact Us
  • Partnerships

Difference Between Fixed and Tracker Mortgages

March 1, 2022 By Mortgage Light Leave a Comment

There are a number of different types of mortgages available. It’s important to try to make sure you choose the right one for you. After all, a mortgage is probably going to be one of the biggest and longest-running financial commitments you ever make. It’s well worth getting it right!

Chances are, you’ve heard of both fixed and tracker mortgages. But what exactly are they and how do they differ? In this article, we’ll discuss the difference between fixed and tracker mortgages to help you decide which, if either, is best suited to you. [Read more…]

Filed Under: Getting a mortgage Tagged With: Bank of England, BoE, fixed-rate, fixed-rate mortgage, getting a mortgage, interest rate, interest rates, Libor, London InterBank Offered Rate, mortgage light, standard variable rate, SVR, tracker mortgage

How to Remortgage Your House

January 18, 2022 By Mortgage Light Leave a Comment

Most homeowners with a mortgage will consider remortgaging at some point – just as you might regularly compare the market to secure the best deal for your car or home insurance.

Remortgaging your house is essentially the process of switching your mortgage from one mortgage deal to another. The new deal that you choose may be with your existing lender, referred to as a ‘product transfer’. Alternatively, it might be a new deal with an entirely different lender.

In most cases, the idea of remortgaging is to shop around and ensure that you have the best mortgage product available to you. But what’s the process and how do you get started? In this article, we will explain how to remortgage your house. [Read more…]

Filed Under: Remortgaging Tagged With: decision in principle, early repayment fees, fact find, fixed rate deal, help to buy, help to buy equity loan, help to buy equity loan scheme, loan to value, LTV, mortgage decision in principle, mortgage in principle, remortgage, remortgaging, remortgaging process, RICs valuation, shared ownership, shared ownership scheme, standard variable interest rate, standard variable rate, SVR

Mortgage Costs Increase – Now is Time to Act!

November 4, 2021 By Mortgage Light Leave a Comment

It’s been an eventful few weeks in the mortgage world, with Rishi Sunak’s announcement of the Budget 2021, mortgage rates on the rise and inflation increases all dominating the financial press.

So, what does all this mean for our Mortgage Light customers? We’re here to explain all. [Read more…]

Filed Under: Managing your mortgage, Remortgaging Tagged With: Bank of England, base rate, Budget 2021, energy crisis, fixed-rate, fixed-rate mortgage, inflation, interest, interest rates, managing your mortgage, mortgage interest, mortgage rates, remortgage, remortgaging, standard variable rate, SVR, The Budget, The Budget 2021

How Much Interest am I Paying on my Mortgage?

October 21, 2021 By Mortgage Light Leave a Comment

Most mortgages these days are standard capital and interest repayment mortgages, also known as ‘repayment mortgages’. This means that each month you repay all of the interest charged on your borrowing for the month, plus a small amount of the capital that you originally borrowed.

Over the term of your loan, you will eventually repay all of the capital you borrowed via your monthly repayments so that your loan is fully paid off. The interest that you pay each month is effectively the fee you pay to your lender in return for borrowing the capital from them. It is how lenders make their profit. [Read more…]

Filed Under: Managing your mortgage Tagged With: amortization, Bank of England, base rate, fixed-rate, fixed-rate mortgage, interest, interest rates, interest-only mortgage, managing your mortgage, mortgage interest, repayment mortgage, standard variable rate, SVR

Different Types of Mortgage

June 9, 2021 By Mortgage Light Leave a Comment

Once you begin looking for a mortgage, you’ll come to realise that there are many different types of mortgages out there on the market. It can quickly become confusing. However, there are essentially two main types of mortgages: fixed-rate and variable-rate mortgages.

In this guide, we are going to explain how each of these mortgage types work. We will also cover other common types of mortgage and some specialist mortgages that you may come across.

[Read more…]

Filed Under: Getting a mortgage, Managing your mortgage Tagged With: bad credit mortgage, buy-to-let mortgage, capped rate mortgage, discount mortgage, first-time buyer, fixed-rate mortgage, getting a mortgage, guarantor mortgage, help to buy, help to buy equity loan, help to buy mortgage, high net worth mortgage, interest-only mortgage, managing your mortgage, offset mortgage, repayment mortgage, shared ownership, shared ownership mortgage, specialist mortgage, standard variable rate, SVR, tracker mortgage, variable-rate mortgage

What is a Fixed-Rate Mortgage?

December 22, 2020 By Mortgage Light Leave a Comment

A fixed-rate mortgage is a mortgage product where the fixed interest rate is guaranteed to stay the same for an agreed fixed period. It pretty much does what it says on the tin! Unlike with a variable rate style mortgage, you’ll know exactly how much you’ll need to repay each month during the agreed fixed period. [Read more…]

Filed Under: Getting a mortgage, Managing your mortgage Tagged With: fixed-rate mortgage, getting a mortgage, interest rates, managing your mortgage, standard variable rate, SVR

Switching to a New Mortgage Deal

November 5, 2020 By Mortgage Light Leave a Comment

When you take out a mortgage to buy your home, you typically take a deal that is to be paid off over the next 25-30 years. That doesn’t mean, however, that you have to stick with that original deal or lender for the whole of that term. In fact, it often makes sense to move your mortgage borrowing around onto different deals, or different lenders to take advantage of deals that might be available. Transferring your mortgage borrowing without moving house is known as remortgaging. [Read more…]

Filed Under: Managing your mortgage Tagged With: product transfer, remortgage, remortgaging, standard variable rate, SVR

Related Pages

Below is a list of our related pages on this subject.

Categories

  • Case Study
  • Getting a mortgage
  • Help to Buy
  • Here to help
  • Managing your mortgage
  • Remortgaging
  • Self-employed
  • Shared Ownership
  • Uncategorized

Recent Posts

  • Does Getting Rejected for a Mortgage Affect a Credit Score?
  • How do Joint Mortgages Work?
  • Can I Remortgage With Credit Card Debt?
  • What Does LTV Mean?
  • What Happens if a Mortgage Application Gets Rejected?
  • Do Shared Ownership Properties Increase in Value?
  • Difference Between Fixed and Tracker Mortgages
  • How do Shared Ownership Mortgages Work?
  • How Does Bad Credit Affect a Mortgage?
  • How to Save For a House Deposit

Mortgage Light Head Office

1 Whittle Court,
Knowlhill,
Milton Keynes,
MK5 8FT

Connect With Us

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Free Initial Consultation

All of our brokers deal with the whole of the mortgage market. It doesn’t matter what the question or when you want to speak to us, we have brokers available on the phone or face to face seven days a week. Whether you are just thinking of buying a home and have no idea where to start, a seasoned investor or someone looking to better your current mortgage product, we are happy to help andchat over ideas free of charge.

So we can give you plain and simple advice we will run through some basic questions to help us tailor products to suit your needs. Upon us taking your application forward we will write to inform you that we have given you advice and give you a Key Facts Illustration breaking down the important elements of the product and the fees involved.

For us to take your application forward to a lender we charge an upfront administration fee of £349. For our returning customers looking to renew their mortgage product this fee reduces to £199. We also receive commission from the lender.

A fee of £349 is payable on application of the mortgage. We will receive commission from the lender in addition to the fees you pay. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply.
Covering Milton Keynes.

Registered Office: Mortgage Light Ltd Church View Chambers, 38 Market Square, Toddington, Dunstable LU5 6BS. Registered Company Number: 8184773. Registered in England & Wales.

Copyright 2019 © Mortgagelight. All rights reserved. Our Privacy Policy, Cookie Information