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Residential Mortgages
Whether you're buying a new home and are looking for a residential mortgage to finance the purchase or would like to refinance your existing home, perhaps to release equity, Young Finance can help. Young Finance does not charge fees for advising and arranging mortgages. We have access to the entire mortgage market, so can guide you to the most appropriate mortgage.
Headline grabbing 'best buy' mortgage deals are rarely the perfect fit for your own specific circumstances; it's become increasingly important to investigate the banks and building societies' product-specific lending criteria and terms. Best buys are useful market benchmarks, but may not necessarily fit your circumstances.
As an indication of the market, one of the current 'best buy' residential mortgages is:
Residential Best Buy
| Rate: | 3.6% |
| Type: | 2 Year Fixed Rate until 30/06/2012 |
| LTV: | 75% maximum |
| Valuation / Legal Fees: | Free valuation and legal fees for remortgage |
| Arrangement Fee: | £800 (can be added to the loan) £199 booking fee payable upfront |
| Loan Amount: | £1million maximum |
| Availability: | Remortgage or purchase |
| Penalty: | 4% Early repayment charge until 30/06/2012 |
| Overpayment | 5% per annum |
| Overall cost for comparison: | Based on a loan size of £225,000, repayment over 25 years: Initial rate - 3.60% Period of initial rate - 24 months Initial monthly payment - £1,142 Subsequent variable rate - 4.74% Overall cost for comparison 4.5% APR Subsequent monthly payment - £1276 |
Your home may be repossessed if you do not keep up repayments on your mortgage.
Call us on +44 (0)845 356 1000 for a quote tailored to your own mortgage needs, make a residential mortgage enquiry or request a call back.
Current Bank Rate
0.5% - Next due: 05 Aug 10
Current Inflation (CPI)
3.2% - Next due: 17 Aug 10
3-month Sterling LIBOR
0.73344% - 13 July 10
