Here at Kellands we are totally committed to providing our customers with truly great mortgages, and making the word ‘mortgage’ itself sound much less daunting. The rates we offer to all of our customers are perfectly tailored to each and every one of them, and aim to provide not only long term financial stability, but short term as well.
We will not advise any of our customers to enter into a mortgage deal which we don’t think is right for them in the long run – we believe that one of the differences between a good and a bad mortgage experience is whether or not it is comfortable for the duration, and not just at the start of it (or towards the end).
When we pick out deals for you, we will of course take into account the mortgage rate as it is an extremely important factor, but we’ll also consider other aspects of the deal as well, because they can be just as crucial in providing you with a good experience. We want to be known as the place to come for a trouble-free and a tailor-made mortgage, regardless of your reason for buying or your intention with the property.
Given that there are many different types of mortgages out there on the market, the rates you’ll pay will differ from each one. Below are a few examples of the most popular types of mortgages, along with a little bit of information on what you should expect rate-wise for each one. As rates can change like the weather, we’ve not listed any specific figures or anything like that here – we have simply outlined what the buyer can expect to happen in each case.
Mortgages with fixed rates
As the title suggests, a fixed-rate mortgage means that you’ll pay the same rate of interest throughout the entire duration of the deal, no matter what happens with regards to interest rates elsewhere.
The advantage to this type of mortgage is of course chiefly the fact that you’ll know pretty much exactly how much is going out of your bank account each month, as your payments will be the same every time.
Some buyers will feel more secure with a fixed-rate mortgage – that is one of their main advantages from a peace-of-mind perspective – whilst other buyers will prefer the adjustability which comes with a variable-rate mortgage.
If you would like to go down the route of a fixed-rate mortgage, we will go out and find the very best deals for you, which will suit your long term (and short term where possible) needs. It’s important that you choose a mortgage which will not only suit your immediate needs, but will remain manageable and affordable pretty much regardless of how your circumstances change over the years.
Mortgages with variable rates
Whilst a fixed-rate mortgage offers a very clear and definitive payment figure each month, the idea of a variable-rate one can be more appealing to many buyers. Instead of being fixed, the rates you pay will fluctuate with the interest rates: if they go up, so will your payments, and if they go down, your payments will again reflect that.
Your rates will fluctuate according to the SVR (‘Standard Variable Rate’), which is the rate set by the lender, or can sometimes vary around a base rate. Bear in mind that the fluctuations on these sorts of variable-rate mortgages don’t come with any restrictions or conditions. Alternatively, you can seek variable-rate mortgages which do involve a ‘capped’ rate (which is also referred to as a tracker), which will mean that your payments will fluctuate, but within certain boundaries (many buyers find that this is a more agreeable deal for them).
As with all mortgages, variable-rate ones come with both a number of advantages and disadvantages, therefore they’re not right for everyone but they’re ideal for some. The main plus to a variable-rate mortgage is that your repayments can lower as interest rates do, and thus save you money in the long term – the word to bear in mind here though is can; it’s not guaranteed. At the same time, if interest rates go up then so will your payments (and of that you are guaranteed).
The main disadvantage associated with this sort of mortgage, therefore, is the eventual unpredictability of it – you won’t be able to accurately anticipate how low or high your repayments will be at any stage in the present or the future. By seeking one which has a tracker, you’re arguably a little safer and will be able to experience the best of both worlds, but it all depends really on what your circumstances are and what you want out of your deal.
We’ll have a thorough look around for you and find you the very best variable-rate mortgages – the ones which are best suited to your specific situation and needs. The beauty of dealing with us here at Kellands is that ultimately we’re most concerned with getting you the right deal, and one which you will feel is right for you – not just immediately but in years and decades to come.
Mortgages with standard variable rates
With an SVR mortgage, the interest rates you’ll pay will basically be subject to the rates of your lender. The rate of each lender will be different, which they use as a baseline and build all of their deals around – this is influenced heavily by the Bank of England base rates and market interest rates; as a result, it can go up and down and frequently does.
As is probably already clear, this sort of deal is not ideal for everyone – especially those who would prefer (or need) to have a much more definitive and steady repayment figure. There are variable-rate mortgages which offer buyers more security and certainty though (as outlined in the very next section, just below).
Mortgages with capped rates
A capped-rate mortgage, as touched upon above, is one which has variable rates – but they can only fluctuate so far either way. This is a good sort of mortgage for buyers who would like to see how they get on with variable rates but don’t want to expose themselves to a great deal of risk (chiefly in the form of their repayments rising significantly). With a capped rate, you’ll be able to better manage the risk which comes with the variable nature of this sort of mortgage, yet you’ll still have the freedom to enjoy some of the advantages at the same time.
Given the fact that the vast majority of mortgages are rather long term deals which span several decades in many cases, remortgaging is something which happens quite a lot. There are a number of reasons you might want to remortgage your property – you may want to cut your costs, consolidate your debts, change the type of deal you’re on, or you may simply be moving house.
Here at Kellands we will be able to provide you with remortgages which have fantastic rates; the idea of a remortgage is generally that you will enjoy a better deal, one which will suit your circumstances better. For this reason we take just as much care when we look for remortgage deals for you, because we want you to be noticeably more comfortable in your new deal right away.
Buy-to-let mortgage rates
If you’re acquiring a mortgage on a property which you intend to use for letting purposes, you will of course have to find a specific deal for it. Generally speaking, buy-to-let mortgages come with higher deposits than standard residential mortgage deals, and the lender needs to know that you’ll be able to consistently cover your interest payments (by at least 125%) through the rent you charge your tenants (this is in case the property or one of its dwellings is empty for a while, between tenants or otherwise).
There are of course a number of advantages to be enjoyed with buy-to-let mortgages, and as usual we will scrupulously search for the very best deals out there. Here at Kellands we cater for every type of buyer out there, whether they’re purchasing a property for themselves to live in or one to let out. Whatever your circumstances we will put in the same amount of effort to find you exactly what will suit your needs, means and circumstances best.
First time buyer mortgage rates
There are some mortgage rates out there which are designed to appeal to first time buyers (with low initial rates), but it must be noted that there are other things to consider besides the rate.
Our team of expert mortgage advisors will search high and low for the very best rates out there, which will suit you better in the long run. Too many first time buyers make the mistake of choosing a mortgage which suits their immediate needs and their current situation, but that is often very unwise as circumstances can change at the tip of a hat.
When we look for mortgages for you, we always consider every aspect – such as the other fees which are involved, the conditions of the agreement itself, and of course the duration of the loan. Mortgages – especially for those who’ve never had one before – are a long term commitment, and so they should be geared towards your long term financial needs, not the short term.
Why you should come to Kellands for your mortgage needs, no matter who you are or why you’re buying
We have a highly professional and approachable team of financial advisors working for us, all of whom have a great deal of experience in providing independent financial advice. Here at Kellands we pride ourselves on the transparency of our advice – we like to make things as clear as we possible can for our customers, as we’re aware that financial jargon can be rather hard to wade through for people who don’t work in finance.
Acquiring a mortgage can be a daunting process for people. We all lead such busy lives as it is – constantly trying to balance our work, home and social lives, and the various other things life throws our way – and having to worry about your mortgage is the last thing you need. We’re here to take this burden off your shoulders and get you fixed up with the very best deals out there. First time buyers especially find the process daunting, as you would imagine, and can struggle to find mortgage deals which are right for them in the long term.
The word ‘mortgage’ itself can send a shudder down the spine of many people, but we don’t want this to be the case here at Kellands; instead we aim to fill our customers with confidence and also fill them with an optimistic view towards the future. We believe we’re a mortgage company for the 21st century, as we’re totally focused on the wants and the needs of our customers. We’re with you the entire way through and are here to help at any stage of the process.
If you would like any more information about our services, or a further insight into the mortgage rates we can find for you, please do not hesitate to get in touch with us. We’re always on hand to chat to any customer about any enquiry, no matter how big or small.
Our staff are not only switched-on experts, but they are also highly approachable and friendly too. We’ll be able to break everything down into digestible chunks of information which are easy to understand and will clarify the whole process for you as much as we can. Our customer service is something we take great pride in, as we believe this is crucial to what makes us such a good organisation.
Kellands is the place to come if you would like a mortgage deal which reflects life in the 21st century – we will find you one which is both advantageous to you in the future whilst manageable in the present.