Mortgage Lenders

Before approaching a particular mortgage lender, it is important for prospective borrowers to consider their repayment options.

Broadly speaking are two different types available, including:

Repayment Mortgages

Repayment mortgages are the most widely used type of repayment agreement available, and may be favoured by many customers due to their relatively straightforward and reliable nature.

Once the mortgage period has begun, the customer will be expected to gradually repay the lender the borrowed amount with interest included on top. Once this has been repaid, the customer will generally be guaranteed to own the property outright, although monthly repayments may be more expensive compared to an interest only agreement.

Interest Only Mortgages

These mortgages are slightly different and may be favoured by first time buyers in many instances, as monthly repayments may be less compared with a repayment mortgage.

Using this type of agreement, the borrower will only be expected to make monthly repayments for the interest on the mortgage. The actual loan will not need to be repaid until after the mortgage period has ended. However, it is important to remember that the customer will be expected to put money away into a suitable investment vehicle in order to repay off their loan at the end of the agreement.

2 Year Fixed Mortgage – 60% LTV

2 Year Fixed Deal

  • Initial Rate – 1.17%
  • Maximum 60% Loan To Value (LTV)
  • 2 Year Fixed Rate
  • £250 CASHBACK
  • Product Fee – £995
Call NatWest FREE on 0800 158 2934

Or Click HERE to apply online

Rep example: A mortgage of £156,000 payable over 22 years initially on a fixed rate for 2 years at 1.21% and then our variable rate of 4.24% for the remaining 20 years would require 24 monthly payments of £673.34 and 240 monthly payments of £887.65.

The total amount payable would be £230,379.74 made up of the loan amount of £ 156,000 plus interest of £74,379.74. A product fee of £995, valuation fee of £352 and a CHAPS fee of £30 are also payable.

The overall cost for comparison is 3.8% APRC representative

Applies to Home Movers only, excludes First-time Buyers. Cashback will be paid to the solicitor on drawdown of the mortgage, offer can be changed or withdrawn at any time. Early repayment charge applies until 31.03.2022

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

Mortgage lenders may also offer customers a variety of different interest rate deals depending on their circumstances. It is important to carefully analyse the pros and cons of a particular deal before committing to it, as their long term viability may depend heavily on the situation of the customer.

Buy To Let Mortgage Offers

Interest Only Buy To Let Mortgage Deals

  • Top 2 & 5 Fixed Rates
  • 60% and 75% LTV deals

Call NatWest FREE on 0800 056 8572

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE