If you are buying a new home you’ll need a deposit of at least 5% of the purchase price. Increasing your deposit could enable you to access lower mortgage rates, saving £100’s in interest over the mortgage term.
If you are buying a property to let out, you will need a deposit of at least 25%, but there are some lenders that may accept smaller amounts.
We don’t have any upfront fees, our standalone mortgage service costs just £350 and with our Homebuyers Solution, there are no fees payable to us.
Depending on your circumstances, some lenders may charge a valuation fee (payable at full application) and some will charge a “processing fee” (usually under £300). If any of these fees are payable we will make you aware of them before proceeding.
Typically, after the fixed-rate period, you would go onto the lender’s higher standard variable rate… But when you arrange your mortgage with HL Mortgages you join the HL family!
Once we have arranged a mortgage on a property, all future remortgages on that property are free of charge! We will contact you 3-6 months before your fixed rate expires with details of new rates you can switch to. We then get your new mortgage ready to start as soon as your current one ends, so you don’t revert onto the standard variable rate and pay more than you need to!
If you are purchasing a new property, we would recommend you opt for our fee-free Homebuyers Solution, but you can also use our standalone mortgage advice services.
All of our pension and investment clients working with our parent company HL Financial, also benefit from free mortgages services, even if it’s a new purchase!
There are lots of things to consider when working out what level of protection you need. A good place to start is by asking yourself a few key questions;
Based on your circumstances we can put together a comprehensive recommendation for the level of cover you need, in keeping with what you can budget.
If you rely on your income, have large credit commitments such as a mortgage, or have financial dependents, the most likely answer is yes. For a relatively small premium each month, you can secure a policy that gives you peace of mind that these things are covered, should the worst happen.