Moneybox - Mortgages - Remortgages - Secured Loans - Insurance - Wills.

Helping you buy the home of your dreams	Credit Problems Are you having problems finding a mortgage due to past or current credit problems? Moneybox Could Still Help	Self Employed Are you having problems finding a mortgage due to the difficulty in proving income? Moneybox Could Still Help
Search 4000 Products From 100 Lenders By Talking To 1 Person	First time buyers Buying a house can be very stressful, especially if it’s your first time. Let us take the stress out of it for you	Make sure you and your loved ones are protected
Your home may be repossessed if you do not keep up repayments on your mortgage. All initial consultations are free of charge and we don't charge a fee for advice. If we arrange a mortgage, we don't typically charge a fee. However, depending on your circumstances we may charge a fee of up to 1.5% of the mortgage amount.   First time buyer A first time buyer is someone buying a home for the first time. Some lenders class you as a first time buyer if you have previously owned a property, but not within the last 12 months. When you are buying a house for the first time, there are a lot of things you need to be aware of, such as any fees you may have to pay: Solicitors fee Valuation fee Lenders arrangement fee Higher Lending Charge Stamp Duty Moving Costs When buying your first home it can be very stressful time particularly finding the right house and mortgage, making sure you have enough money and dealing with the lender and solicitor. We can help; apart from finding the right house for you we can take the rest off your hands. Why not speak to one of our fully qualified mortgage advisers today and they will take you through the process from start to finish talking to you in a way that you will understand. So call today and let us do the hard work. Next Time Buyer A next time buyer is where you currently own a property which you are selling and plan to buy a new home. With so many lenders on the market and so many different mortgage products available:- Fixed rate mortgage Tracker mortgage Discounted mortgage Cap and collar mortgage Stepped mortgage Offset mortgage Bad credit mortgage Self cert mortgage Finding the right deal for your circumstances can be a bit of a mine field. If you are looking to move home and want the right mortgage for your needs we can help. We have access to the whole of market which means we can find the best deal for your circumstances. We will process your mortgage from start to finish, completing much of the documentation for you and liaise with your current lender, your new lender and the solicitors to make sure that everything runs smoothly. We offer a fast and professional service so speak to one of our fully qualified mortgage specialists today. Solicitor’s fee Solicitor fees will usually vary, dependant on the purchase price of the property. The larger the purchase price, the more expensive the solicitors costs. As well as the charge for their services you may also have to pay for bank transfers, local searches, environmental search and land registry document search and registration fee. The costs of disbursements do vary. Sometimes not all are required, and sometimes additional ones are required. So make sure, when you are getting a quote from a solicitor you are aware of what is included. Valuation fee When you purchase a property the lender will require a valuation to be done on the property to confirm that it is suitable security for a mortgage. You will also want to make sure that property is in good repair and is worth the value that you are looking to pay for it. There are three main types: Valuation Report – this report is suitable for purchasers of modern or new property where the value of the property needs to be checked but the condition of the property is unlikely to be a problem. Any obvious defects should be identified by the valuer. Homebuyers Report – this report should provide the general condition of the property and whether there are any significant or urgent matters that need to be attended to. It will confirm the valuation and purchase price, the insurance valuation, and points for your legal advisor to address. Building Survey – this report is the most detailed and will normally provide detailed advice on the property’s construction, Technical Advice on problems, Recommendations on remedial work, and advice on future maintenance. It provides the best opportunity to investigate and identify defects or disrepair. If you are unsure as to which type of valuation is best suited to your needs our fully qualified mortgage advisers will give you guidance. Lender's arrangement fee This is a fee that is charged by the lender when you submit a mortgage application. Some products allow you to add this fee onto the mortgage and some insist that it is paid upfront on application. Some products may not have a lenders arrangement fee or booking fee. When you speak to one of our mortgage advisers, they will find the right deal for your circumstances, taking into account your thoughts regarding fees. They will also take into account any fees such as lenders arrangement fees when working out the most suitable mortgage for you. Higher Lending Charge This may apply if the amount you wish to borrow is typically more than 75% of the value of the property. The lender will require additional security on the amount in excess of this threshold in the form of an insurance policy (a higher percentage lending fee). The policy is used to protect the lender only and is used to cover the lender in the situation, where the property is repossessed and the loan plus any unpaid interest exceeds the sale value of the property. You will then owe the insurance company any payment claimed by the lender. The lender will arrange the insurance and the premium will be paid by you, in some cases it can be added to the loan.  Not all lenders charge a higher lending charge. This fee may not be charged unless you are borrowing over 90% of the value of your property. Speak to one of our fully qualified advisers and we will find the right mortgage for your circumstances. We will also take into account any fees such as higher lending charge when working out the most suitable mortgage for you. Stamp Duty Stamp Duty is a government tax based on the value of the property your wish to purchase. The higher the value of the house you wish to buy the more stamp duty you will have to pay .Currently stamp duty falls into these four brackets :- £0 - £125000 – No Stamp Duty Payable £125001 - £250000 – 1% of the Purchase Price Payable £250000 - £500000 – 3% of the Purchase Price Payable Over £500000 – 4% of the Purchase Price Payable Moving Costs Moving costs cover such things as removal van, removal persons and packaging boxes. Make sure you have worked these costs into you budget. Fixed rate mortgage A fixed rate is where your interest rate and your monthly payments are fixed for a set period of time normally 2, 3, 5, 10 years. This means that if the mortgage lender's rate increases, during your fixed rate period, your rate and monthly payments will not increase. But it also means that if the mortgage lender's rate decreases, your rate and monthly payment will not. There may be an early repayment charge if you repay this mortgage within the special rate period. Speak to one of our fully qualified mortgage advisers today and find out if a fixed rate is the right type of mortgage for your circumstances. Tracker mortgage A tracker mortgage is where your interest rate will track the mortgage lender's standard variable rate. This means that any increase or decrease in the Bank's base rate, would mean that the Lender's interest rate, would be adjusted by the same margin. Speak to one of our fully qualified mortgage advisers today and find out if a tracker mortgage is the right type of mortgage for your circumstances. Discounted mortgage A discounted mortgage is where your interest rate will track the lenders Standard Variable Rate at a set amount below the lender's rate. This means that when the lenders Standard Variable Rate increases your rate will increase and so will your monthly payments. Likewise if the lender Standard Variable Rate decreases so would your rate and monthly payments. There may be an early repayment charge if you repay this mortgage within the special rate period. Speak to one of our fully qualified mortgage advisers today and find out if a discounted mortgage is the right type of mortgage for your circumstances. Cap and Collar mortgage A cap and collar mortgage is where your interest rate has a set upper limit (cap) where it will not increase beyond that rate. This means that if rates continue to increase above this limit, your rate will remain at the capped rate. If however rates decrease, your rate will also decrease to a set rate (collar), but will not decrease any further than that rate. A cap and collar mortgage is subject to a pre arranged period of time. There may be an early repayment charge if you repay this mortgage within the special rate period. Speak to one of our fully qualified mortgage advisers today and find out if a cap and collar mortgage is the right type of mortgage for your circumstances. Stepped mortgage A stepped mortgage is where your interest rate will increase at set times through the period of the product. This could be on a fixed or variable basis, it should be noted that if your stepped product is on a variable basis then further changes may take place outside of the set changes. Speak to one of our fully qualified mortgage advisers today and find out if a stepped mortgage is the right type of mortgage for your circumstances. There may be an early repayment charge if you repay this mortgage within the special rate period. Speak to one of our fully qualified mortgage advisers today and find out if an stepped mortgage is the right type of mortgage for your circumstances. Offset mortgage An offset mortgage is where you have a mortgage normally on a variable rate in one pot and an amount of savings in another pot. Instead of earning interest on your savings the amount of savings you have will offset the interest you are charged on your mortgage. For example if you have a mortgage balance £100,000 and a savings pot of £20,000 then you will only be charged interest on the different between the mortgage and saving pot which is £80,000 Speak to one of our fully qualified mortgage advisers today and find out if an offset mortgage is the right type of mortgage for your circumstances.   Bad credit mortgage A bad credit mortgage is where due to either previous or current credit issues you are unable to obtain a mortgage through the normal channels and have to look to more specialist lenders. The range of rates and products available to you, will be dependent on your credit history. It should be noted that if you have been turned down by a high street lender, it doesn't necessarily mean you have a poor credit history. Speak to one of our fully qualified mortgage advisers today and find out if a bad credit mortgage is the right type of mortgage for your circumstances. The overall cost for comparison is 9.6% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration Self certification mortgage A self certification mortgage is where you are unable to prove your income to the satisfaction of the lender. This could be due to the fact that you do not have 2 years accounts (or in some cases 3 years accounts), or your incomes are derived from various sources. Because a self certification mortgage is a higher risk to the lender, you will often pay a higher interest rate than a mortgage where you can prove your income. Speak to one of our fully qualified mortgage advisers today and find out if a self certification mortgage is the right type of mortgage for your circumstances. The overall cost for comparison is 9.6% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. [Return to Top]

Moneybox Financials Limited: Registered in England No. 5492975. Registered address: Ground Floor, Bancroft Place, 10 Bancroft Road, Reigate, Surrey, RH2 7RP. Moneybox Financial Management is a trading name of Moneybox Financials Limited, which is an appointed representative of Legal & General Partnership Services Limited which is authorised and regulated by the Financial Services Authority for advising on and arranging mortgages and insurance.

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