Mortgages

There are over 150 companies that offer mortgages and between them they have over 8,000 different products. It can be very confusing finding the right one, but here at Lewis Christopher we source the thousands of different products in the hope of finding you the right deal.

There are many different types of mortgages available, each offering slightly different benefits. The type of mortgage that suits you best depends entirely on your circumstances.

Here is a brief overview of some mortgage requirements':

First time buyer mortgage - Because getting on the property ladder is becoming increasingly more difficult, there are several types of agreements tailor-made for first time buyers. Options include shared ownership, 100% no deposit, 125%, guarantor arrangements or housing association co-purchases.

Home mover mortgage - Whether you are upgrading or downsizing home mover mortgages let you move in confidence. You may want to switch mortgage provider, move to a bigger house and increase your loan amount, or downgrade and lower your monthly repayments. Any application is of course subject to approval by the lender.

Buy to let mortgages (The Financial Services Authority does not regulate some aspects of buy to let arrangements) - A buy to let mortgage is when you purchase a second property with the intention of letting it out to tenants. Many people want to increase the size of their property portfolio to take advantage of rising house prices and rental rates. Of course, while it can be a very lucrative endeavour, it's important to make sure you invest in the right kind of property and secure the best mortgage available.

Remortgage - Remortgaging can be one of the biggest ways to save money and cut your monthly outgoings. Many people look to remortgage their property simply to cut costs, but there are many other reasons to think about remortgaging - and plenty of different remortgage types. "Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage."

Poor/bad credit mortgages - Most lenders take into account evidence of a poor credit history. This means that some will not be prepared to offer you a mortgage if you have a bad credit record. However, many specialist lenders will consider lending to you, even if you have examples of arrears, defaults or even bankruptcy in your past. You may have to pay a slightly higher rate than someone with good credit history, as the lender will see it as a larger risk to lend the money.

Large mortgages - As the name suggests, a large mortgage is simply a mortgage where the borrower requires more than the average amount. There are many specialist large mortgage lenders, as well as deals with traditional lenders tailor-made for expensive properties. These deals may take into account various forms of income (including investments and shares) that you may intend to use to pay off the mortgage.

Right to buy mortgages - Right to Buy mortgages were introduced in 1980 as a scheme to help council tenants purchase their own property. The Right to Buy works by allowing you to buy the council house you are currently living in at a discount price. The longer you have lived in the property, the bigger the discount - and you will retain the title deeds from the council upon purchase.