For the safety and wellbeing of our clients and intermediaries, we are happy to conduct ‘face to face’ meeting by a suitable video link during this difficult period.
Frequently Asked Questions
What is an Interest Only mortgage?
An Interest Only mortgage is a mortgage where only interest is serviced by payments each month. Therefore, the balance remains the same throughout the mortgage term, and at the end of the term, you will owe the same amount as when the mortgage started. These types of mortgage are not generally recommended these days, with the exception of buy-to-let mortgages and business purpose mortgages.
Will I have to pay fees up front?
For arranging a mortgage, there will be certain fees which are payable. The only fees which are usually needed to be paid up front are the Application Fee and Valuation Fee. Full details of fees payable will always be provided in our Initial Disclosure Document
Can I get a mortgage if I have a poor credit history?
Just Money have hundreds of mortgage lenders to choose from on their panel, and you may be surprised to learn that many products are now available for clients with poor credit histories at very reasonable rates
How much deposit will I need?
We have a full range of mortgages available, and they all vary on the deposit required depending on your circumstances. However, it is likely that you will need at least 5% of the property purchase price available as a deposit.
What is a Let-to-Buy mortgage?
Let-to-Buy is a term used when someone has decided to move out of their current mortgaged property to buy a new property, but have decided to rent out the existing property to tenants, rather than sell it. We would raise the deposit for the new purchase on the property to be let in this instance.
What is a Second Charge Mortgage?
A second charge mortgage, previously known as a ‘Secured Loan,’ is an alternative way of raising funds on a property you own which already has a mortgage on it. Instead of applying for a ‘re-mortgage,’ you would raise the required funds with a different lender, and keep your existing first charge mortgage
What is a Buy-to-Let Mortgage?
A Buy-to-Let mortgage is a mortgage on a property which is specifically purchased for letting purposes.
Can I raise a mortgage for Debt Consolidation?
Just Money offer hundreds of mortgage products specifically for the purpose of paying off existing loans and credit. These can be on a first or second charge basis
Are there any downfalls to using a mortgage to pay off debt?
Although using a mortgage for Debt Consolidation will reduce your monthly payments, often quite substantially, you need to be aware that this will increase the length of time taken to repay the debt, and the overall cost of the interest on the debt may be higher in the long run. Additionally, if you are repaying unsecured credit using a mortgage, you are converting unsecured debt to secured debt, and your home will then be at risk if you subsequently fall behind on payments.
Can I raise money to annul a Bankruptcy or IVA?
Just Money specialise is assisting clients in current insolvency situations to pay off these debts. We have a panel of lenders who will assist us in clearing these debts. You will need a solicitor to act for you in these matters