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Mortgages & Mortgage Calculator

Our experienced, qualified and independent mortgage team will work with
you to calculate your mortgage and help you through your application

If you are looking to calculate your new mortgage we are here to help.

If you are a first time buyer this can seem a bewildering and overwhelming process and even if you are a seasoned mortgage holder there are pitfalls to avoid.

The whole experience can be stressful and time consuming so we are here to support you and will liaise with your solicitor and estate agent, helping you through the entire process from initial meeting to deal completion.

Our team will work with you to understand your individual goals and provide detailed explanations, mortgage calculations and repayment options for you so you can then choose the best way forward.

Visit our YouTube channel to see our video on Equity Release

How much will I be able to borrow

Lenders are working to very strict criteria of how much they will lend you and this has been made even harder by the coronavirus pandemic. Firstly, we will work together on your application and look at the crucial factors including affordability and your particular circumstances. We will then pre-test the application which will give you the best chance of matching you to the best deal. Meanwhile you can try our mortgage calculator below.

Mortgage Calculator Icon Mortgage Calculator

Calculate your Mortgage

mlcalc

Choosing the right mortgage

Although there are thousands of products available on the market, we will search the market place for you to find you a mortgage that fits your circumstances and goals.

Book a free no obligation chat with our expert mortgage team

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Your deposit

The golden rule is quite simple, the bigger the deposit, the better the interest rate, the lower your monthly repayments, the cheaper the mortgage. The difference between a 5% and 10% deposit is huge in terms of your monthly repayments and interest rates for example, so if you can boost the size of your deposit by saving for longer, or asking parents or grandparents to contribute, do it.

However there are some schemes available if you do not have a deposit at all or have a very small deposit, so it is worthwhile having a chat with us to see if this could be an option for you.

Types of mortgages we can help you with

  • Residential purchases and re-mortgages
  • Buy to let purchase and re-mortgage
  • First time buyers
  • Capital raise
  • Debt consolidation
  • Help to Buy Equity Loan
  • Help to Buy
  • Shared ownership
  • Portfolio landlords
  • Holiday let
  • Second home

Benefits of remortgaging

The benefits of remortgaging can be a reduction in monthly payments, changing to a better interest rate and/or shortening the pay back term. You can also look to remortgage if you need funds for home improvements, pay off costly debts including credit cards and loans, or to help your children/grandchildren with a deposit fund for their own home buying.

Helping your child or grandchild onto the property ladder

There are several ways of to help your child/grandchild as a first time buyer:

  • You can either gift them a deposit,  providing the remainder of the mortgage is affordable for them of course and you can do this by gifting non-refundable savings or raising money from equity in your own property for example.
  • With some lenders, you can have a charge put on your property or use savings as collateral for a deposit, which you then receive back once the property is sold.
  • Alternatively,  you can be an applicant on the mortgage as a joint borrower, but your child/grandchild would be the sole proprietor (owner) of the property.

Each option as you would expect has various rules and criteria, some of which may/may not be suitable, and we are here to help you talk through the detail and find the most effective and affordable option for both yourself and your child/grandchild.

Insurance and Protection Services

In addition, we offer relevant and compulsory insurance services. Please see our protection page.

Equity Release Services

We’ll take the time to understand and advise you on solutions for releasing capital or income from your home including ‘equity release schemes’, ‘lifetime mortgages’ and ‘home reversion schemes’.

Mortgage Reviews

“I have used Services from Bob Wood at Ellis Bates since I bought my first house in 2003 and will never go anywhere else. He has been reliable, helpful and fully supportive making the task of getting a mortgage as simple as possible every time its due for renewal as I haven’t got the time or the knowledge to really know what I’m looking for. Simple and clear information fully explained with all the pros and cons. Never feel anything is hidden, just looking for the best deals for me. He has made me feel comfortable when visiting my home at times that suit me, and even to my place of work on occasion when better for me. Would highly recommend.”

“We had the pleasure of being allocated Margery Gledson as our mortgage broker. We were first time buyers who didn’t know much about the process, and Margery ensured everything went smoothly. From enquiry until completion, she has always been informative and responsive. She was warm and friendly throughout, always taking the time to explain anything we weren’t sure about, in an accessible way. She’s been a huge help to us, and we would highly recommend her, we can’t thank her enough!”

Bank of Mum and Dad
560 315 admin

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