Compare Kent Reliance mortgages
If you are thinking about applying for a Kent Reliance mortgage through a mortgage advisor, there are several different kinds you can choose from.
First Time Buyer mortgages
First time buyers often have difficulty getting together a sizeable enough deposit to be able to purchase a first home. Many lenders offer mortgage deals specifically designed for first time buyers.
This can include allowing them to borrow with a smaller than normal deposit, allowing family members to help by using their own properties as partial security and providing discounted interest rates for an introductory period.
Buy to Let mortgages
If you are thinking about buying a property to rent out or are a current landlord looking to expand your portfolio, a buy to let mortgage can allow you to do this. How much you can borrow will depend on the value of the property and is likely to also factor in the monthly rental value of the property. Many providers require the monthly rent to exceed the monthly mortgages payments, often by around 25%.
Remortgaging with Kent Reliance
Replacing your current mortgage with a new one can allow you to cut your monthly repayments, if you can get a better deal, or raise extra finance by increasing your borrowing. Whether this is a good idea or not will usually depend on how good a deal you can find compared to your existing one.
Second charge mortgages
When you need to borrow more, remortgaging is not always the best way to do it. This is most often true if you already have a particularly good deal on your mortgage. In these circumstances it can be cheaper to take out a separate secured loan, commonly known as a second charge mortgage.
Loan to value ratio
Loan to value (LTV) ratio defines how much you want to borrow compared to how much a property is worth. So, if you want to borrow £50,000 on a £100,000 property, your LTV would be 50%. LTV takes account of both new and existing borrowing, so if you are looking to leverage a new loan against a property on which you already have a mortgage this will need to be factored in.
Most lenders will tend to offer more attractive rates of interest on mortgage deals with a lower LTV as they usually see these kinds of deals as less risky for them.
Find the best deals on mortgage rates
When you are keen to get the best value on your mortgage, it can be frustrating having to search dozens of different mortgage providers to try to work out which offers the best deal for you.
Our mortgage calculator makes things much easier by matching your unique requirements with the appropriate deals from across the industry. All you have to do is head to the top of the page and plug in some basic information about your borrowing needs. The mortgage calculator will do the rest.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.
However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.
If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).
If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice on Kent Reliance mortgage product options.