Frequently Asked Questions

Here are some of the questions that our clients regularly ask us, along with our answers to them.

What's a repayment Mortgage?

A repayment mortgage is where you pay monthly installments for a fixed term until the mortgage and interest on the mortgage is paid off.

What’s an interest only mortgage?

An interest only mortgage is where you only pay the interest on a mortgage and therefore at the end of the term (20-30) years, the capital borrowed will be the same.

What type of mortgage shall I choose?

There are various types of mortgage i.e fixed, variable rate and tracker. We will advise on the best mortgage to suit your needs.

What does loan to value (LTV) mean?

Loan to value is a ratio which depicts the amount of the mortgage as a proportion of the property value.

How much can I borrow?

Lenders generally take into account how much you can afford by looking at factors such as salary, tax credits, secondary income etc..

Do I need to pay a deposit?

This will depend upon the lender and your circumstances. You may be able to pay a deposit of as little as 5% of the property’s value

Will I have to pay fees?

It depends upon the lender. Some lenders charge an arrangement fee and some also charge a booking fee. You may be given the option of adding fees to your mortgage debt rather than paying them up front but this does work out more expensive.

What is income protection?

This is where the insurer promises to pay the policy holder a monthly sum of money should they be unexpectedly off work due to ill health or accidental injury for the duration of the period that they are unable to work.

What is critical illness?

This is where the insurer promises to pay the policy holder a lump sum of money should they be diagnosed with a critical illness.

What is life insurance?

This is where the insurer promises to pay a lump some to a beneficiary should you die.

What is business protection ?

There are various forms of business protection including Death in service, Critical illness, Key person or Share protection.

As above, the insurer promises to pay a lump sum should unexpected circumstances occur relating to health and death in service.

Do I need a will?

We would highly recommend that you consider writing a will to ensure that your estate, spouse, partner, civil partner, children, vulnerable others are protected. No matter what your age, your assets are not automatically passed to your loved ones should you die. It is therefore important to protect them from further heartache and expense by taking time out to seek professional advice and make a will.

Get in touch for a Free Consultation today!

Let’s talk through your needs and arrange a visit to see how we can help.