Services

Mortgages

A mortgage is often the biggest financial commitment you will make in your lifetime. Yet with hundreds of providers and numerous different types on the market, taking out a mortgage can become incredibly complicated.

Whether you are looking for a quote or simply an idea as to what you can borrow, we are on hand to guide you through your options.

Once we understand your circumstances, Skybound will search hundreds of options to find the most suitable mortgage for you and your individual requirements.  Whether you are a first-time buyer, moving home or looking for a potential re-mortgage, we will provide you with the information on the best mortgages that are available to you.

All Types of Mortgages

Capital & Interest Mortgages

An arrangement where part of the monthly mortgage repayment is used to pay the interest and the remainder is used to reduce the original amount of the loan borrowed. In the early years of the mortgage, most of the monthly repayment goes towards paying the interest; in later years, the interest charges diminish and more of the repayment is available to reduce the loan amount.

Interest-Only Mortgages

All of the monthly repayment (which will be lower than a capital and interest repayment payment) is used to pay the interest on the loan and therefore the capital does not reduce.

Lenders may require evidence that a client will have in place a clear, credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed at the outset.

Remortgaging

Remortgaging is the process of switching your existing mortgage to another mortgage lender, usually to lower the amount you're paying on your mortgage. You are not obliged to remain with your original lender for the full mortgage term, and often you can move to another lender to get a lower interest rate - you don't have to be buying a new home. It is important however to note that you could be subject to early repayment charges by the existing lender.

* YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.

Buy To Let Mortgage

A Buy to Let mortgage (BTL) is primarily used when looking to purchase a property with the purpose of renting it out for investment purposes. A BTL mortgage is assessed differently by the lenders to that of a standard residential mortgage, larger deposits are required, with the focus of the lender generally being on the rental value of the property. This being said, the applicants income levels and tax rate band will also be considered by most lenders. The Buy to Let market is increasingly complex with regulatory changes and different lending criteria between providers.

Talk To Skybound

Our team of mortgage advisers have access to the whole mortgage market and a wealth of knowledge that combined means they are perfectly placed to assist you with your mortgage enquiry today.

Mortgage FAQ’S

Is using a mortgage adviser more expensive than going directly through a bank?

In short, yes, they are. However, mortgage advisers are well placed to ensure you find the best mortgage for your circumstances, in many cases they will save you money off your mortgages. Short term they are more expensive but over the long term you could save a lot more. Our mortgage advisers are dual qualified to financial advice across all your investments not just your mortgage requirements.

What is a let to buy mortgage?

A Let to buy mortgage is where you rent out your existing home and then buy a new home to live in, so  it's effectively 2 mortgages. A buy to let mortgage on your current property you want to rent out and a residential mortgage on the new property you want to move to. These can work really well if you are struggling to sell your existing home due to market conditions or if you need to move homes quickly.

What is a buy to let mortgage ? Are they harder to get then residential mortgages?

A buy to let mortgage is where you would rent out a property, rather than live in it for investment purposes. They are not harder to get than residential mortgages however they are more expensive to finance. You are required to have a much larger deposit usually between 25-40%, it would likely pay higher interest rates then that of a residential property. A buy to let property can be a great tool to replace income if you are looking at an interest only mortgage which is commonly used in BTL. You only repay the interest of the mortgage, which is a smaller monthly amount this means you could keep more of the rent for income purposes rather than this going towards paying off a capital repayment & interest mortgage. At the end of the term, you could sell the property to pay off the outstanding debt or switch it to make capital repayments.

Can I have a buy to let property if I don’t live in the UK?

Subject to meeting criteria checks, Skybound Wealth Management UK can help you secure a buy to let mortgage or a residential mortgage. You are assessed the same as a UK based borrower but you would pay higher rates and currency fluctuation will need to be taken into consideration when lenders assess affordability.

Talk To An Adviser

You can reach us directly by calling us between the hours of 8:30am and 5pm at each of our respective offices and we will immediately assist you.

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Talk To An Adviser

You can reach us directly by calling us between the hours of 8:30am and 5pm at each of our respective offices and we will immediately assist you.

Request A Call Back

By completing this form, you are consenting to receive telephone communication from Skybound Wealth Management Ltd, in accordance with our Privacy Policy.
Thank you!
Your call back request has been received and we will arrange for a member of our team to call you at your desired time.
Oops! Something went wrong while submitting the form