Compare Market Harborough Building Society mortgages
Market Harborough Building Society offer mortgage for both traditional homeowners as well as a number of more specialist mortgage products. Their mortgages are offered on an interest only or capital and interest basis.
Family shared mortgages
One way for younger people struggling to get a mortgage to get on the property ladder is to get help from their parents. A family shared mortgage from Market Harborough Building Society allows parents to come together with their children to buy a property jointly.
This allows the income of all parties to be factored in and lets everyone benefit from any increase in value of the property when it is sold. This can thus represent a good investment for parents as well as a way of helping out their children.
Mortgages for older people
Unlike many mortgage providers, Market Harborough Building Society is willing to lend to customers up to the age of 85. This can include interest only mortgages with the view to selling your property to pay the capital when the mortgage ends. These mortgages are only available to customers with a regular proven income, whether from employment, a private pension or another source.
Second home mortgages
Market Harborough Building Society offer specialist mortgages for those looking to buy a second home, either as a holiday home or for any other purposes. You can also benefit from up to 24 weeks consent-to-let, allowing you to make money renting the property out when you are not using it.
Remortgaging with Market Harborough Building Society
If you want to borrow more or think you aren’t getting good value on your current mortgage, you could look at switching your mortgage to Market Harborough Building Society or another provider. This can allow you to reduce your monthly repayments or end up with a lump sum left over once your old mortgage is paid off.
Second charge mortgages
If you don’t want to remortgage, one alternative is to take out a separate secured loan, often called a second charge mortgage. This allows you to secure an additional loan against your property without interfering with your existing mortgage.
Loan to value ratio
Whatever type of mortgage you choose to apply for, your loan to value (LTV) ratio is likely to be a key factor in how much you can borrow. LTV is a way of expressing how much you want to borrow as a percentage of the market value of your property.
For example, if you borrow £50,000 as a mortgage on a £100,000 property, your LTV will be 50%. Increase your borrowing to £75,000 on the same house and your LTV will be 75%. The lower your LTV, the lower interest rates you are likely to be offered.
Find the best deals on mortgage rates
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