A first-time buyer in the UK is someone who is purchasing their first home and has never owned a property before.

We understand that purchasing your first property can be an exhilarating yet daunting experience, so if you are a first-time buyer seeking a mortgage broker with a 5-star rating, Thameside Mortgages can provide assistance. With access to over 90 lenders, we can identify the most suitable products to obtain the right mortgage deal for you.

Our knowledgeable mortgage brokers have helped hundreds of first-time buyers in Bedfordshire and the surrounding areas secure their first mortgages and home. 

Our process begins with a brief conversation with one of our staff members, where we learn about your needs and guide you towards purchasing your first home in the area of your choice.

Then we will submit an initial application to get an Agreement in Principle (AIP) and once your offer has been accepted on a property, we can move forward with submitting a formal mortgage application to a mortgage lender. 

Remortgaging refers to the process of switching your existing mortgage to a new lender or a new deal with your existing lender. It involves paying off your current mortgage with the proceeds of a new mortgage, which may offer more favourable terms and conditions, such as a lower interest rate, more flexible repayment options, or the ability to borrow more money. 

Remortgaging is a way to reduce your monthly mortgage payments, release equity from your property, or consolidate other debts. It is typically done when your existing mortgage deal is about to expire, or when you want to take advantage of better deals in the market.

To ensure you have enough time to explore alternative lenders and negotiate better mortgage rates, it’s advisable to start considering a remortgage six months before your current agreement expires.

Thameside Mortgages, your mortgage broker in Bedfordshire and the surrounding areas, can guide you through the remortgaging process and help determine whether it’s a feasible option based on your current financial situation.

When it comes to remortgaging, you have two primary options: fixed-rate and variable-rate mortgages. Fixed-rate mortgages offer stability in your monthly expenses, making them a good choice if you prefer predictability. 

If you’re looking for expert mortgage advice and want to secure the right mortgage deal, don’t hesitate to contact Thameside Mortgages today. Our team of knowledgeable brokers are ready to guide you through the process and find the perfect mortgage product for your unique financial situation – get in touch with us today!

A home mover mortgage is a type of mortgage that is designed for individuals who already own a property and are looking to move to a new one.

If you are tied into a mortgage deal, it might make sense to ‘port’ your existing mortgage. 

Porting means transferring your existing mortgage to a new property, allowing you to avoid early repayment charges, which can be expensive. 

To port a mortgage, we can apply to your mortgage lender and ensure you meet their eligibility criteria for the new property. Any additional borrowing will be taken at a rate available at the time of application. 

If approved, your lender will transfer your existing mortgage to your new property and you can continue making your mortgage payments as usual.

At Thameside Mortgages, we understand that moving house can be a stressful time, which is why our qualified and accredited mortgage brokers in Bedfordshire and the surrounding areas are here to simplify the process for you. We take care of everything, from applying for an Agreement in Principle (AIP) to liaising with estate agents and solicitors and sourcing the right home mover mortgage to suit your needs and current financial situation.

A buy-to-let (BTL) mortgage is a type of mortgage product specifically designed for people who want to purchase a property with the intention of renting it out to tenants. 

Unlike a residential mortgage, where the lender is primarily interested in whether the borrower can afford to make their mortgage payments, a BTL mortgage lender will also consider the potential rental income the property could generate. 

This is because the rental income can be used to cover the mortgage payments, and the lender wants to be confident that the borrower can generate sufficient income to cover the mortgage. BTL mortgages typically have different interest rates and lending criteria than traditional residential mortgages.

Most lenders require a deposit of at least 25% for a BTL mortgage. However, it’s worth noting that the exact deposit required may vary depending on the lender and the borrower’s individual circumstances. Some lenders may require a larger deposit, particularly for properties in high-risk areas or for borrowers with a less-than-ideal credit history. 

There are several compelling reasons why clients may choose to engage our services as a mortgage broker, such as Thameside Mortgages in Bedfordshire:

1. Our extensive lender access: We have built a broad network of over 90 lenders, including those not typically found on the high street. This enables us to assist clients in finding a mortgage product that is specifically tailored to their individual needs and financial circumstances.
2. Expert guidance: With nearly two decades of experience in the mortgage industry, our brokers possess a comprehensive understanding of the market. This allows us to provide clients with expert advice and informed guidance throughout the mortgage process.
3. Streamlined technology integration: We utilise technology to simplify the often mundane aspects of obtaining a mortgage. Our online portal facilitates efficient application management and provides clients with real-time updates on their application’s progress.
4. Personalised and friendly service: As a small, family-run company, we take pride in delivering a personalised and amiable service. Clients can expect to work with the same broker from start to finish, cultivating trust and fostering a comfortable experience.
5. Time-saving convenience: By engaging our services, clients save valuable time and effort as we handle the mortgage application process on their behalf. This includes completing paperwork, liaising with lenders, and providing guidance and support throughout the journey.

In summary, employing our services as a mortgage broker offers clients numerous benefits, including access to a diverse range of lenders, expert guidance, time-saving convenience, and a personalised and friendly approach.

A fixed-rate mortgage is a mortgage type where the interest rate remains unchanged for a predetermined duration, typically ranging from two to ten years. Throughout this fixed-rate period, the borrower’s monthly mortgage payments remain consistent, unaffected by fluctuations in the Bank of England’s base interest rate or other economic factors.

Once the fixed-rate period concludes, the mortgage often transitions to the lender’s standard variable rate (SVR), potentially leading to a notable increase in the borrower’s monthly payments. To avoid this potential rise, borrowers may opt to remortgage or switch to a different mortgage type before the fixed-rate period ends.

Fixed-rate mortgages offer borrowers stability and predictability, enabling easier budgeting and future planning. However, the initial interest rate for a fixed-rate mortgage may be higher compared to a variable-rate mortgage, and borrowers may miss out on potential savings if interest rates decrease during the fixed-rate period.

A tracker rate mortgage is a mortgage type that aligns its interest rate with an external benchmark, typically the Bank of England’s base rate. As the benchmark rate fluctuates, the interest rate on the tracker mortgage will correspondingly increase or decrease.

For instance, a tracker mortgage may be advertised as “base rate + 1.00%,” indicating that the mortgage’s interest rate will be set at 1.00% above the Bank of England’s base rate. If the current base rate is 4.00%, the mortgage’s interest rate will be 5.00%. If the base rate subsequently rises to 5.00%, the mortgage’s interest rate will increase to 6.00%.

Tracker mortgages provide flexibility and the potential for lower interest rates compared to fixed-rate mortgages since borrowers can benefit from decreases in the base rate. However, they also carry the risk of increased payments if the base rate rises. It is crucial to carefully evaluate your financial situation, weighing the potential risks and benefits, before opting for a tracker rate mortgage.

The duration of a mortgage term can vary based on factors such as the mortgage type, age, and financial circumstances. However, the most common mortgage terms typically fall within the range of 25 to 35 years.

It’s important to recognize that the length of your mortgage term can impact the amount of interest you will pay over the life of the loan. Longer mortgage terms often result in lower monthly payments but accumulate more interest over time. Conversely, shorter mortgage terms may involve higher monthly payments but reduce the total interest paid throughout the loan’s duration.

Additionally, it’s worth noting that lenders may offer varying mortgage term options based on individual circumstances. For instance, if you are closer to retirement or have a shorter timeframe until retirement, some lenders may provide shorter mortgage terms to ensure the mortgage is paid off before you retire.

Ultimately, the choice of mortgage term depends on your unique financial situation and objectives. Consulting with a mortgage broker can be beneficial in determining the most suitable mortgage term length for your specific needs.

Certainly. As part of our commitment to our clients, we prioritize providing the appropriate level of protection. Our team of experienced mortgage brokers understands the significance of thoroughly assessing your unique circumstances and future aspirations. This enables us to offer personalized and customized recommendations that align with your needs.

During the process, we will carefully evaluate your existing policies and consider any relevant employee benefits to ensure their suitability and identify any potential gaps in coverage. It is our assurance to you that we will never insist on unnecessary products, and we will communicate our recommendations in clear, jargon-free language. Your understanding and satisfaction are of utmost importance to us.

When dealing with stamp duty payments, a First-Time Buyer (FTB) is typically defined as an individual who has never previously owned a property. It is crucial to understand that all buyers participating in the property purchase must meet this criterion to qualify for any potential government incentives that may be offered.

Nevertheless, some mortgage lenders may extend the definition of a First-Time Buyer to include individuals who haven’t held a mortgage within the past three years. Furthermore, specific mortgage options exist that enable one applicant in a joint application to be considered a First-Time Buyer. This arrangement allows them to access products specifically tailored for FTBs and take advantage of the associated benefits.