Need business mortgages UK advice? All the mortgage information on this site is provided free for you to use. If you'd prefer to receive professional mortgage assistance do get in touch. Total costs could amount to as much as 3 - 4% of the purchase price. In some cases the costs are based on a fixed scale; in others they are variable. Fees can include:-
- Arrangement Fees;
- Booking Fees;
- Valuation Fee (For Basic Valuation Only);
- Mortgage Indemnity Guarantee Premium;
TIP: When interest rates fall: Try and leave your repayments as they are. This means you'll actually be paying more than the minimum each month. You'll repay your loan years sooner. Just be sure you are not running into a pre-payment penalty.
The more rates fall, the sooner you'll pay your loan back. You'll have been paying at the higher rate, so if rates rise again later you might not have to change your payment.
While the option to stretch your income to get a larger loan may be tempting it isn't a smart move.
Lenders will happily lend you four, fix, six, even seven times your projected yearly income. They're not really doing you a favour. This will end up costing you an earl's ransom in interest payments.
Try to beg or borrow money from friends and relatives before applying for business mortgages UK. Revise your business plan. How much do you really need to realise your dream, in a practical sense? Remember, the mortgage will have to be paid before you can take any profits from your hard work.
If you end up getting a mortgage with a sub-prime lender and aren't happy with your interest rate, remember that you can always remortgage again later. Be sure to maintain a good repayment history and work to improve your credit rating so you will be ready to remortgage again when the time comes.
TIP: Don't sign documents without reading them. As soon as possible, before you close the deal, review the documents you'll be signing, and make sure you understand them, so you won't have to sign them in a hurry.
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If you can't find what you are looking for here we'll show you where you can find it. Within our site you can find information about business mortgages UK and you can apply online using our free quote forms to get an idea about how much you could save. All the business mortgages UK information on this site is provided free for you to use.