Compare Legal and General mortgages
When looking for a mortgage, there are a wide range of different providers you can choose from. They all offer various types of mortgages and which is best for you will depend on your borrowing needs and personal circumstances.
First Time Buyer mortgages
Many lenders offer mortgages aimed at helping first time buyers get onto the property market. They include features such as lending of up to 95% of a property’s value, to help those struggling to get together a deposit. They may also provide discounted monthly repayments for an introductory period and allow relatives to help out by using their own homes as partial security for the loan.
Buy to Let mortgages
Prospective landlords and existing landlords looking to expand their rental portfolio will need dedicated buy to let mortgages for their properties. These usually offer up to 75% of the value of a property, but the amount you can borrow may also depend on the monthly market rental value of the let.
Remortgaging with Legal and General
To make sure you are always getting the best value, it is a good idea to periodically check your mortgage against the latest offers on the market. This can let you see if new products are offering a better deal and whether it would be worth switching your mortgage to a new provider.
Taking out a new mortgage to pay off your old one can also allow you to borrow more for home improvements and other purposes.
Second charge mortgages
If you are looking to increase your borrowing, it can be cheaper to take out an entirely separate secured loan, rather than remortgaging. This is often a good option if you are already getting good value on your current mortgage and can’t find an equivalent or better deal that lets you borrow more.
Loan to value ratio
Your income is only one of the things lenders take into account when deciding how much they are willing to give you as a mortgage. They also look at your loan to value (LTV) ratio. This is how much you wish to borrow expressed as a percentage of the value of the property you want to borrow against.
A £50,000 mortgage on a £100,000 property would represent a loan to value ratio of 50%. LTV also takes into account existing borrowing, so if you had a £50,000 mortgage on a £100,000 property, then wanted to borrow £25,000 more, that would make your LTV 75%.
Find the best deals on mortgage rates
Getting a mortgage is a big commitment, so it is important to find a deal you are going to be happy with long term. Our mortgage calculator allows you to compare various deals from across the market, so you can find one that suits you.
You simply need to scroll to the top of the page and share some basic information, including how much you want to borrow and how long for. The calculator will do the rest, showing you our pick of the top deals from across the market.
Independent Mortgage Advice
Remortgaging is particularly popular at the moment as interest rates are low.
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.