Mortgages in Swindon
Looking for a new Mortgage, or want to re-mortgage?
We take time to understand your situation and help you understand which is the most suitable mortgage and terms for you.
We pride ourselves on providing the same exceptional service we would offer to our loved ones. We understand that securing the right mortgage is a significant step in your financial journey, and we are here to guide you every step of the way. With a commitment to clear and transparent communication, our advice supports you securing the right mortgage to buy your first home, move to a new house, become a buy-to-let landlord, or simply get a better deal on your existing loan.
A loan against your property is a serious commitment, therefore it is important to speak to an adviser who can help you to get the most suitable deal for your money.
With access to a market-leading mortgage lenders, the Everest Rock team can support you to reach your personal goals.
What is a mortgage?
The most simple description we can provide is: a Mortgage is a loan of money from a bank or building society to be used to buy a home.
Typically, a deposit is paid straight away and the rest of the cost of the house is borrowed from a bank or building society and paid back monthly over a number of years.
The amount of interest on this loan/mortgage depends on how much you pay in deposit, the amount you borrow and the number of years you take to repay it.
Our Mortgage Calculator will show you examples of the amount of money you might need to repay each month based on how much you borrow. Contact us for help and advice with your mortgage.
Mortgage Terminology and FAQs
What is a Fixed rate mortgage?
A mortgage where the interest rate is fixed for a set period, typically two, three, or five years, providing stability in repayments
What is the Annual Percentage Rate of Charge (APRC)?
The annual cost of a mortgage to a borrower, including fees, expressed as a percentage. This helps you compare the cost of different mortgage deals.
What is a Capital and Interest Mortgage?
A mortgage where your monthly payments repay both the capital (the amount borrowed) and the interest.
What is an Interest-Only Mortgage?
A mortgage where your monthly payments only cover the interest, and the capital is repaid at the end of the mortgage term.
What does Loan-to-Value (LTV) Ratio means?
The ratio of the loan amount to the appraised value or purchase price of the property, whichever is lower. For example, an 80% LTV means you’re borrowing 80% of the property’s value and paying a 20% deposit.
What is the difference between a mortgage in principle (or agreement in principle) and a mortgage offer?
A mortgage in principle is an estimate of how much you could borrow based on a preliminary assessment, whereas a mortgage offer is a formal offer from a lender after a detailed evaluation.
What are stamp duty and other buying costs?
Stamp Duty Land Tax (SDLT) is a tax on properties over a certain value. Other costs include solicitor fees, valuation fees, and moving costs.
Can I overpay my mortgage?
Yes, many mortgages allow overpayments, which can reduce the total interest paid and shorten the mortgage term. However, some lenders may charge an early repayment fee.
What is mortgage protection insurance, and do I need it?
Mortgage protection insurance covers your mortgage payments if you lose your income due to illness, disability, or redundancy. It is not mandatory but can provide peace of mind.
The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your property may be repossessed if you do not keep up repayments on your mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £99 to £299 and this will be discussed and agreed with you at the earliest opportunity