Mortgages

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Mortgages

The right mortgage can save you thousands of pounds in interest and protect you from interest-rate changes.Whether you're a first-time buyer, looking to move house, or interested in buy-to-let, we can advise you on:

  • Fixed v discounted v tracker v capped v offset mortgages
  • Interest-only v repayment
  • How much to borrow - and what to do if you haven't got a deposit
  • Competitive deals for remortgaging, buy-to-let and first timers.
  • Features like early repayments and payment holidays

Your home may be repossessed if you do not keep up repayments on your mortgage.

The Process

Choosing the right mortgage to suit your needs may seem like a daunting process.

Having to navigate your way through the maze of different lenders and their products is an extremely time consuming process.

Competition and demand has resulted in a wide range of interest rate options available on mortgage loans. At PJ Mortgages (UK) Ltd we are here to make choosing the right mortgage as easy as possible.Once you have arranged your mortgage we take care of the whole process for you.

Buy to Let and Multiple Occupancy

A buy to let mortgage enables an individual to purchase a rental property with a loan secured on that property. The purposes of the borrower are to generate income and to obtain long-term capital growth on the investment.

Whether you are an established property developer/landlord or looking to buy your first buy to let property we can help you.

Buy to let mortgages are usually subject to more restrictive criteria than conventional residential mortgages, these being:-

  • A deposit will be required of at least 15% of the purchase price
  • The rental income must amount to more than the monthly repayment, this normally being between 115% - 130%

The above are in addition to the applicant's personal status and other factors to be taken into consideration.

Don't worry if you haven't got sufficient deposit monies to hand. We may be able to help you raise this, via a possible re-mortgage on your existing property/ies.

 

Multiple Occupancy

A house in multiple occupation (HMO) is a building, or part of a building, occupied by three or more people, living as more than one household.

New laws have extended the definition of an HMO to cover more property types. An HMO can be a shared house, a building split into bedsits or self contained flats, bed and breakfast accommodation, a hostel or many types of student accommodation.

This area of lending is more specialised and we have the knowledge at PJ Mortgages (UK) Ltd to help you through the maze.

Secured Loans

A secured loan enables you to access additional borrowing, which is separate to your mortgage.

This maybe useful if you need to raise additional funds but your mortgage lender would charge you to change your existing arrangements.

This type of loan facility can be used for may purposes, some examples of which are: home improvements, debt consolidation or the purchase of a new car of that holiday of a lifetime.

If you want to pay off credit cards or other loans with high interest rates, using a secured loan to consolidate your borrowings could enable you to reduce your monthly spend and may also improve your monthly cashflow. Remember though that this may mean repaying over a longer term, which could result in more interest being paid overall.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE RESPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Residential

Whether you are a first-time buyer, moving home or staying put and re-mortgaging, with our expertise you can be sure you will find a product to suit your needs.

Lenders, like any other product provider, are constantly reviewing the range of products they offer and the various features and options included in each.

The attractiveness of each one depends on the personal circumstances of each borrower.

Whatever your needs, we are here to make your first time purchase, home move or re-mortgage go as smoothly as possible.

Let to Buy

This allows you to rent our your existing property and to purchase a new one for your main residence. Your existing mortgage could then be covered by the rental income you receive.

Certain criteria is required in order for you to qualify for a Let to Buy mortgage:-

  • Rental income achieveable for your existing property should not be less than 125% of the monthly mortgage repayment
  • Your new property must be intended as your main residence
  • A minimum deposit of usually 10% is required for your new purchase

Don't worry if you haven't got sufficient deposit monies to hand. You may be able to help you raise this, via a possible re-mortgage on your existing property.

Commercial

Commercial mortgages can enable you to raise capital for the purchase of property or land for your business.

Many lenders have special lending policies in respect of loans to limited companies, we are therefore here to find you the best deal, giving you more time to concentrate on the more important things, like running your business.

Equity Release

The value of your home minus any outstanding mortgage can be described as your "equity". Equity release is the process whereby this is turned into cash, which you can then spend on whatever you like.

This can significantly improve your standard of living - enabling you to benefit from the comfortable retirement that you deserve.

There are various types of equity release schemes on the market which are primarily aimed at older borrowers allowing them access to the equity built up in their properties.

This is a specialised area and we at PJ Mortgages (UK) Ltd are able to help you make the right decision.

Advice on an Equity Release scheme may involve a lifetime mortgage or a home reversion plan. If so to understand their features and risks, ask for a personalised illustration.

Shared Ownership

Equity share mortgages are designed to help those would otherwise not be able to make their first move into the market to buy a property with the help of a mortgage that is affordable to them. Under such arrangements, the lender or another body takes a stake in the property, therefore reducing the size of the required mortgage in doing so reducing the monthly repayment.

The shared ownership mortgage is flexible in that the borrower can purchase additional shares in the property.

If you are looking to purchase a property through a shared ownership scheme we can help you.

Contact Information

PJ Mortgages (UK) Limited

354 St Albans Road,

Watford WD24 6PQ

Phone: 01923 232111

My pension fund has grown by 10.8% since February. Thank you for looking after my pension fund so well. I look forward to enjoying the benefits soon. Pip Buist

My pension fund has grown by 10.8% since February. Thank you for looking after my pension fund so well. I look forward to enjoying the benefits soon. Pip Buist

Thanks for reviewing my pension and giving me advice on what pension I should go for. I will have no hesitation using your services in the future and will be pleased to recommend you. T Clark, Watford

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Thank you for your professional and efficient service in sourcing the right mortgage provider for me - I wish more businesses would follow PJ Mortgages (UK) Ltd model. F Benenson, Finchley

Thanks for all your help and hard work and attention to detail. You have worked diligently and kept me up to date and explained everything to me. S Mann, Dunstable