Select Mortgage Solutions

read moreFirstly, your annual earnings total. Mortgage lenders have different policies but they usually apply a multiple on your annual income of between 3 and 4 times. If it is a joint application they look at the combined annual earnings and apply a multiple typically around 3.5 times. Other lenders use more advanced credit models that take into account your expenditure as well as your earnings. You may have to fill in a detailed questionnaire that details your outgoings. Obviously if you have 5 children you are likely to have less disposable income than someone earning the same with no dependents.

read moreWe search from over 2,000 mortgages from leading banks, building societies and other mortgage lenders. Select Mortgage Solutions are specialist Unbiased Mortgage and Insurance brokers based in Northampton, covering the whole of Northants, as far as Beds and Bucks and, with up to date technology, we can provide a service wherever you may be in the UK. We have many years of experience in Financial Services, so whatever your requirements, we are in the perfect position to help you. A mortgage is likely to be the biggest financial commitment you will ever make so it is vital to make the right product choice.

read moreA fixed rate mortgage provides guaranteed monthly payments for a predetermined period of time. If you're the kind of person who likes certainty and the reassurance of knowing exactly what your monthly outgoings will be, then a fixed rate mortgage may be most suitable for you. A fixed rate mortgage sets the interest rate that you will pay for a specified period, guaranteeing the amount payable each month for a fixed length of time. This arrangement will enable you to more accurately forecast your budget during the initial years of your mortgage term.

read moreA buy-to-let mortgage (also known as an investment mortgage) is designed for borrowers who want to let their property out to a third party (i.e. More and more people are investing in property as a long-term opportunity to make profitable returns, and as a way of securing finance for their retirement. You should be aware however that property prices can rise as well as fall. There are now plenty of competitive buy to let mortgage deals around that are specifically aimed at the buy-to-let market, ranging from special offer mortgage deals to fixed and variable rate options.

read moreA capped rate mortgage puts a maximum limit on the interest rate that you have to pay. You therefore gain the security of having a 'ceiling' or upper limit to the amount that the lender can increase the interest payable on your mortgage. This period of capped interest is for a specified period only; typically between one and five years. At the end of the specified period your mortgage will usually revert to a variable rate. Although this arrangement initially sounds attractive, some capped rate mortgages also have a 'collar' or lower limit below which the interest on your loan cannot fall.

read moreAre you a first time buyer looking for unbiased mortgage advice, or want to remortgage because you're paying too much? Perhaps you're worried interest rates are about to rise and want to remortgage onto a fixed rate? If so, Select Mortgage Solutions is the perfect partner to help you choose the best mortgage or remortgage that suits your individual circumstances. Select Mortgage Solutions is an appointed representative of Stonebridge Mortgage Solutions Limited which is authorised and regulated by the Financial Conduct Authority.

read moreSome so-called flexible mortgages may only meet a couple of these criteria, while other all-singing, all-dancing mortgages allow you to do much more. So let us do the research for you and we can recommend the deal that suits you best. The vast majority of flexible mortgage borrowers make overpayments on their mortgages. This may seem like a strange concept, but it makes great sense. If you can get rid of your mortgage early you can save yourself tens of thousands of pounds in interest payments.

read moreIf you suffered such an illness during the term of the policy, you would receive a lump sum to help with recuperation, medical costs, payment of your mortgage, regular payments to replace your income or even a sum to pay for modifications to your home such as widening your doors for a wheelchair if you were to become permanently disabled. If you have children and one was diagnosed with a critical illness and was in a hospital many miles away it is likely that you would want to stay with them or at the very least visit them everyday.