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Mortgage Services
From first-time buyers and landlords to limited company mortgages and buy-to-let investments, we provide a comprehensive range of mortgage solutions.
First-Time Buyers
Purchasing your first home is an exciting milestone, but it can also be overwhelming. Before you start looking for a mortgage, it’s important to know how much you can afford to borrow. This will depend on your income, expenses and credit score.
At J&P Mortgages Ltd., we specialise in guiding first-time buyers through the home buying journey. Our experienced advisors will explain the various mortgage options available and help you secure a mortgage that fits your budget and lifestyle. We understand the challenges faced by first-time buyers and are here to make your journey to homeownership smooth and stress-free.
First-Time Landlords
Thinking of becoming a landlord for the first time?
Our mortgage services for first-time landlords are tailored to meet your needs.
Whether you are buying a property to rent out or converting your current home into a rental property, we can assist you in securing the right buy-to-let mortgage or let-to-buy mortgage.
Limited Company Mortgages
Investing in property through a limited company structure requires specialised mortgage solutions.
Our team has extensive experience in arranging mortgages for properties held in limited company or buying your first home under limited company.
We will work closely with you to understand your company's financial situation and objectives, ensuring you secure the most suitable financing for your property investments.
Further Advance
Need additional funds for home improvements or other purposes?
Our further advance services allow you to access the equity in your property without having to remortgage. We will help you navigate the process of obtaining a further advance from your existing lender, ensuring you receive the financing you need efficiently.
It is often used for home improvement, paying unsecured debts or buying out an ex after a separation or divorce. The interest rate for a further advance is usually different from our original mortgage loan.
Buy-to-Let Mortgages
If you are considering investing in the buy-to-let market, our buy-to-let mortgage services can help you achieve your goals.
Here are the key points about buy to let mortgages:
- The fees tend to much higher than other mortgages.
- Interest rates are usually higher than other mortgages.
- The minimum deposit is usually 25% of the property’s value (although it can vary between 20-40%).
- Most BTL mortgage lending is not regulated by the Financial Conduct Authority (FCA).
Our advisors will assist you in selecting the right buy-to-let mortgage product to maximise your rental income and grow your property portfolio.
Remortgage
A remortgage is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. Whether you are looking to release equity, add a party or remove someone from the existing mortgage, reduce monthly payments, our team can help you.
Is it time to review your existing mortgage?
Our remortgage services can potentially save you money by securing a better interest rate or releasing equity from your property. Whether you are looking to reduce your monthly payments or fund home improvements, we will explore remortgage options that align with your financial objectives.
Shared Ownership
Considering shared ownership as a pathway to homeownership?
Our mortgage specialists can assist you in securing a mortgage for a shared ownership property. We will explain how shared ownership works, calculate your affordability and guide you through the mortgage application process to make your homeownership dreams a reality.
Shared ownership mortgage allow home buyers to purchase a share in a property while property while paying rent on the rest.
Here’s how they work:
- You take out a mortgage on part of the property.
- You pay rent on the remaining portion to a housing association.
- When the property sells, the equity is allocated to each party according to their contribution
Here, at J & P mortgages you will always get the best deal and make you buy dream house using shared ownership incentive.
Right to Buy
Right to buy is a government scheme that lets you buy your home at a substantial discount if you are a council tenant. It works in the same way as typical residential mortgages.
The benefits of the Right to buy scheme include:
- Discounted purchase price: As a council tenant, you have the opportunity to buy your home at a substantial discount. The discount amount varies based on factors such as the length of your tenancy and the type of property.
- Equity: Owing your home means you build equity over time. As you pay off your mortgage, you gain ownership and can benefit from any increase in property value.
- Freedom: Homeownership gives you the freedom to make changes to your property without seeking permission from a landlord.
- Potential for further purchases: We can use Right to Buy discount as deposit and potentially borrow 100% of the purchase price subject to credit and affordability check.
Our mortgage specialists are always here to explore your options further.
Home Mover
Planning to move house? Our home mover mortgage services are designed to make your move as smooth as possible. Whether you are upgrading to a larger property or downsizing, we will assist you in securing a mortgage that fits your new home and financial circumstances.
Certainly! Moving to a new house is an exciting but also a significant decision, when it comes to mortgages, you have a few options to consider:
Porting your current mortgages:
- You still need to go through the application process for the loan.
- If your new property is more expensive than your current home, you may need to increase the size of your mortgage to cover the cost difference.
Remortgaging with your current lender:
- Instead of porting, you can choose to replace your current mortgage with an entirely new loan from your existing lender.
- While the options might allow you to find a better interest rate, there may extra cost involved.
- Additionally, you might face exit fees, arrangement fees and valuation fees on your new mortgage.
- Be sure to compare these costs against the potential savings from a better rate.
Let to Buy
Transitioning from homeowner to landlord?
Our let to buy mortgage solutions enable you to rent out your existing property while purchasing a new home.
We will help you manage the financial aspects of this dual-property arrangement, ensuring a seamless transition.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.
