AFP North London have access to mortgage products which are not available on the high street.
Ged O’Sullivan is an independent Mortgage Advisor based in North London who seeks to provide honest and open advice to all who are seeking guidance with their mortgages. On your behalf AFP North London are able to search the market for the best deals for you. Our priority is to make the whole mortgage process stress free for you.
We have access to mortgage products which are not available on the high street. We have access to thousands of mortgage products and will endeavour to find the right mortgage which would be best suited to your needs and requirements.
Currently the most favoured mortgage by both customer and lender. Your monthly commitment consists of both capital and interest. In the early years the payment is primarily interest on the loan, with a small element being the capital. But as the years go by the capital payments increase, thereby reducing the loan.
Interest Only Mortgage
With this type of mortgage the repayment consists entirely of interest.This product may appear cheaper but as you are not repaying any capital the entire mortgage will still be owed at the end of the mortgage period. Subsequently it is vital that you have a credible arrangement in place to repay the loan, this is usually an investment vehicle such as an ISA that you make contributions to during the period of the mortgage.
Buy to Let Mortgage
With a lot of press coverage at present BTL mortgages are very popular. The main difference is that the affordability is based on the rental income of the property to let. But some lenders will also take into account the landlords income. There is a huge choice to suit first time landlords and the professional landlord with a large portfolio. AFP North London have a wealth of knowledge in this arena with 35% of our business managing BTL mortgage arrangements.
To re-mortgage is to simply replace your existing mortgage or increase your mortgage with another lender. You may do this to save money with a more competitive rate offered by a new lender. It is important to bear in mind charges that could be applied such as an ERC (Early Repayment Charge) before you switch lenders.
Exclusive Mortgage Deals
AFP North London have preferential rates with some of our lenders for the benefit of our customers only. Call now to talk to an adviser to find out whether these will fit your personal circumstances.
As it says on the tin your rate will be fixed for a period of the mortgage, with 2 years, 5 and 10 years being the most popular choices. The biggest benefit is that they give you the security of knowing exactly what your commitment will be over the fixed period.
Tracker Variable Rates
The mortgage rate is usually linked to the Bank of England base rate, and will increase and decrease in line with rate changes that are published each month.
Standard Variable Rate (SVR)
These are the standard rates charged by your lender and will move in line with rate changes published by the Bank of England. However the changes do not happen immediately, furthermore they do not always reflect the true rate adjustment, subsequently you do always benefit from the change.
Typically your current and savings accounts are linked to your mortgage, with the balance in both used to offset against your outstanding mortgage amount. Your monthly payments are calculated based on your outstanding balance.
As the term would suggest you have flexibility and can vary the amount you pay each month, with the opportunity to take payment holidays. You can also pay larger amounts towards the mortgage without penalty.
Discounted Variable Rate
These are opportunities to benefit from a genuine discounted rate against the lenders variable rate, and will go up or down dependent on the Bank Of England rate in the same way as a Standard Variable Rate mortgage.
July 2017 – 5 out of 5 stars
Ged was able to quickly identify a lender who ultimately saved me a lot of money on a monthly basis. Also gave good advice regarding life insurance.
“I do not think there is anything Ged could have done better. He went above and beyond to ensure my purchase went through as smoothly as possible. He was available by telephone out of hours, which was invaluable to me as I work full time in the daytime. Since this purchase, I have been in touch with Ged in relation to re-mortgaging my own home and he has offered constructive advice, which will save me further money on a monthly basis.”