Mortgages

Remortgaging

Remortgaging

There are many reasons why you might want to remortgage:

  • Get a more competitive rate to lower your monthly repayments
  • Raise cash from the equity in your home
  • Consolidate your debts (This may result in lower monthly payments but extend the term over which the debt is paid and the overall cost may increase.)

Depending on your circumstances we may be able to find a lower interest rate on your mortgage with another lender.

Important Information

Important Information

The Mortgage Shop (NI) Limited undertakes credit broking and is not a lender.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250.

You may have to pay an early repayment charge to your existing lender if you remortgage.

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Buying a home

Buying a home

Buying a new home can be a very stressful time. Our experienced team of mortgage advisors can help make the process run a lot smoother – from start to finish.

The most important thing, of course, is to find a competitive mortgage that’s right for you. But with so many mortgage deals out there it’s not always easy to make the right choice.

Important Information

Important Information

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

Typically we do not charge a fee, however if we do, depending on your circumstances, it will be a maximum of £250.

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First Time Buyers

First Time Buyers

Buying a first home and getting onto the property ladder can seem quite daunting. But with The Mortgage Shop, home ownership likely to be realistic goal for you.

Mortgage advice you can trust

We will act as your mortgage broker, ensuring you receive advice you can trust and rely on. Your dedicated mortgage advisor will liaise with estate agents, lender, solicitor and insurance company, keeping you informed every step of the way.

Important Information

Important Information

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

Typically we do not charge a fee, however if we do, depending on your circumstances, it will be a maximum of £300.

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Co-Ownership

Co-Ownership

Co-Ownership is a Shared Ownership scheme exclusively for Northern Ireland. If you hope to own your own home but think you can't quite afford a mortgage, Co-Ownership may help you onto the home ownership ladder.

The Co-Ownership website will give you more information on who can use Co-Ownership, what properties may be suitable, how to apply and answers some of your questions. Visit their website at www.co-ownership.org

Important Information

Important Information

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

Typically we do not charge a fee, however if we do, depending on your circumstances, it will be a maximum of £300.

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Lifetime Mortgages

Lifetime Mortgages

A Lifetime mortgage lets you release the equity you’ve accumulated in your property by means of a long term secured loan which is repaid when you die or go into long term care. To qualify you must be a homeowner and aged 55 or over. The fee for a lifetime mortgage is 1.5% of your mortgage up to a maximum of £995.

Important Information

Important Information

The benefits to you:

  • You keep 100% ownership of your home
  • No monthly repayments are required. The loan and interest are rolled up and are only repaid from when the property is no longer your main residence, either on death or when you move into long term care. Any remaining equity remains in your estate
  • Only those lenders who offer a 'no negative equity guarantee' will be recommended which means you'll never have to repay more than the money you receive from the sale of your property.
  • Can be used to purchase a new property as well as raising capital on your existing property.

Things to consider

  • A lifetime mortgage charges interest on the total amount of the loan including the interest that has already accumulated.
  • You don't have to pay tax on the amount you borrow, but it may affect your entitlement to means tested benefits
  • Releasing equity will reduce the value you have in your home and the amount of inheritance you are able to leave.

Let The Mortgage Shop arrange your Lifetime Mortgage

  • Expert mortgage advice
  • Face to face advice
  • Local office based in Belfast
Rosaleen Crawford

Rosaleen Crawford

Lifetime Mortgage Adviser
Tel: 028 90 641602
Email: Email
 
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