What are my mortgage options?

Selecting a mortgage is a difficult decision that you’ll need to think about carefully, you might have asked yourself “What are my mortgage options?” or “What is a Mortgage?”

Applying for a mortgage can be intimidating, and it sometimes feels like the lender has all the power. Every lender has its own method to decide whether it wants to lend to you. If you fit a lender’s criteria, you’ll most probably be accepted quickly. If you’re far from ideal, you’ll most likely be rejected by it.  (Don’t panic, we have access to the whole of the market and we do this part of the getting a mortgage for you.)

Choosing the right mortgage is a complex problem, but it’s vital for your financial health that you make a sensible decision and don’t get overwhelmed by the options, especially if you’re a first-time buyer. To help you feel as confident as possible, we’ve put together the main different types of mortgages, so you know exactly what you’re looking for.

REPAYMENT OR INTEREST-ONLY MORTGAGES

All mortgages are either repayment mortgages or interest-only.  Repayment mortgages, sometimes called capital mortgages, allow you to borrow enough to buy a property (minus your deposit) and then repay that total amount, with interest, over time.

Interest-only mortgages allow you to borrow enough to buy a property (minus your deposit) and then pay only interest on that amount until the end of the mortgage period. You will then repay the original amount, often by selling the property.

Buyers who plan to live in their property almost always choose a repayment mortgage. Not all lenders offer interest-only and those that do will have strict criteria such as a decent deposit and an approved repayment vehicle in place to pay off the capital at the end of the term.

Many landlords pay their mortgages on an interest-only basis and lenders generally accept this.

FIXED RATE OR VARIABLE MORTGAGES

Most repayment mortgages are either fixed rate or variable.

Fixed rate mortgages have set monthly payments that won’t change for an agreed period – usually between two and five years, but sometimes longer. While the interest rate is usually higher than for variable mortgages, you have the security of knowing it won’t rise.

This can save you money over the long term. For example, if the Bank of England interest rates rise during your fixed mortgage period, you’ll be glad your mortgage payments aren’t affected. If Bank of England interest rates fall, you’d probably rather that your mortgage payments fell too – but that’s the price of security.

Variable mortgages have monthly payments that go up and down. They might follow the Bank of England interest rates, or they might not. This depends on which type of variable mortgage you choose, out of the following options.

TRACKER, STANDARD VARIABLE RATE AND DISCOUNTED VARIABLE RATE MORTGAGES

Variable mortgages can be any of these types, and the difference between them is how the interest rate (and therefore the cost of your monthly repayments) is calculated.

Tracker mortgages have monthly repayments at an interest rate that’s set a little higher than the Bank of England base rate. When that base rate goes up or down, so will the monthly repayments.

Standard variable rate (or SVR) mortgages have monthly repayments at an interest rate set by the lender. Your payments can go up and down as they decide.

Discounted variable rate mortgages have monthly repayments that are lower than

the SVR. This discount usually lasts for an agreed amount of time, and when your time’s up, you’ll switch to the standard variable rate.

CAPPED MORTGAGES

Any of the types of variable mortgages can be capped, meaning that your monthly payments will never rise over a certain amount. That gives you some protection – although the cap is often quite high anyway, so think carefully before signing up.

OTHER MORTGAGES

While the above categories are the main different types of mortgage, you might want to consider some of the other special features that are available.

These can include:

Cashback mortgages, where you’ll receive a lump sum when you take out the mortgage (but usually pay a higher interest rate on repayments).

Offset mortgages, where your cash savings can reduce the interest you pay on your repayments.

Current account mortgages, where your current account and your mortgage are linked, which can also reduce the interest you pay.

Getting a mortgage is more than filling out an application form. Before you complete a mortgage affordability check or book a mortgage interview, you will need to make sure your finances are as healthy as possible and want that question of “What are my mortgage options?” answered. For further information or to discuss your situation, we’re here to help you.  Remember the team have access to the whole of the market, we don’t charge a broker fee and genuinely want to help you get on the property ladder with the most suitable mortgage for your needs.  You can contact us via the contact us page on the website or click the burgundy chat icon on the side of your screen.

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At Yes Mortgage Services, we offer a comprehensive range of products from across the market.

Irrespective of whether you are looking to buy a new home, re-mortgage an existing property, or looking to protect your family from the unpredictability that life throws at it or protect your income if you are unable to work due to accident or ill health.

Yes Mortgage Services are committed to offering you the highest possible standards of service. We can undertake the whole process from answering the initial questions through to handling multiple product applications. Ensuring that everyone gets treated with the same urgency and maintaining your best interests are our main goals irrespective of the value of the mortgage.

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspect of our dealings with you.

Yes Mortgage Services

Contact Us

YES Mortgage Services Limited
The Old Barn
Brooklands Farm
Mannington
Wimborne
BH21 7JU

Hours
Monday – Friday 0900 – 1700

Contacts
0800 612 5596
[email protected]

We don’t charge a broker fee

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More and more investors are buying properties within a Limited Company to keep things tax efficient. ⁣
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But when it comes to refinancing or purchasing your new investment property, the process of getting a mortgage can feel challenging.⁣
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Not anymore!⁣
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Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They'll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣
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Visit our website to learn more (🔗 in bio)⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert⁣
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...⁣
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#limitedcompanybuytolet #ukpropertyinvestors #ukpropertyinvestor #landlordsuk #landlordsecrets #investmentproperty #ukpropertyinvesting

More and more investors are buying properties within a Limited Company to keep things tax efficient. ⁣

But when it comes to refinancing or purchasing your new investment property, the process of getting a mortgage can feel challenging.⁣

Not anymore!⁣

Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣

Visit our website to learn more (🔗 in bio)⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert⁣

...⁣

#limitedcompanybuytolet #ukpropertyinvestors #ukpropertyinvestor #landlordsuk #landlordsecrets #investmentproperty #ukpropertyinvesting
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We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣
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That's why we don't charge a broker fee 🤩⁣
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We'll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you're remortgaging, moving home, or making any subsequent property purchase, we've got you covered.⁣
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Visit our website (🔗 in bio) to learn more.⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣

That`s why we don`t charge a broker fee 🤩⁣

We`ll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you`re remortgaging, moving home, or making any subsequent property purchase, we`ve got you covered.⁣

Visit our website (🔗 in bio) to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser
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Being self-employed has its perks, but when it comes to getting a mortgage, things can get a little tricky. But you don't have to navigate this process alone.⁣
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We have access to a wide range of lenders and a deep understanding of what each one looks for when it comes to self-employed mortgages. Meaning we can find the most appropriate lender for your circumstances and needs!⁣
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And the best bit? We don't charge a broker fee 🤩⁣
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If you'd like to chat with one of our advisors about self-employed mortgages give us a call on 0800 612 5596 or send us a DM⁣
...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage.  Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#selfemployedmortgage #selfemployedmortgages #selfemployed #dorsetbusiness #bournemouthbusiness

Being self-employed has its perks, but when it comes to getting a mortgage, things can get a little tricky. But you don`t have to navigate this process alone.⁣

We have access to a wide range of lenders and a deep understanding of what each one looks for when it comes to self-employed mortgages. Meaning we can find the most appropriate lender for your circumstances and needs!⁣

And the best bit? We don`t charge a broker fee 🤩⁣

If you`d like to chat with one of our advisors about self-employed mortgages give us a call on 0800 612 5596 or send us a DM⁣
...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#selfemployedmortgage #selfemployedmortgages #selfemployed #dorsetbusiness #bournemouthbusiness
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A JSPB mortgage enables you to accept the financial support of your family while retaining a sense of independence through sole ownership of your property.⁣
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If you'd like to chat with one of our advisors about Joint Borrower Sole Proprietor Mortgages or buying your first home, give us a call on 0800 612 5596 or send us a DM⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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...⁣
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#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips #JSPBmortgage

A JSPB mortgage enables you to accept the financial support of your family while retaining a sense of independence through sole ownership of your property.⁣

If you`d like to chat with one of our advisors about Joint Borrower Sole Proprietor Mortgages or buying your first home, give us a call on 0800 612 5596 or send us a DM⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips #JSPBmortgage
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Life throws curveballs, don't let a leaky roof be one! Building insurance provides peace of mind knowing your home's structure is covered. Talk to Kelly, our insurance advisor, to find the right coverage for your mortgage.⁣
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Get in touch on 0800 612 5596 or tap the link in our bio.⁣
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Life throws curveballs, don`t let a leaky roof be one! Building insurance provides peace of mind knowing your home`s structure is covered. Talk to Kelly, our insurance advisor, to find the right coverage for your mortgage.⁣

Get in touch on 0800 612 5596 or tap the link in our bio.⁣

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Connor joined our team back in July 2017!  He's lived all around the Southwest, from Cornwall to Bristol, and now he's found his sweet spot in Wellington, Somerset—right between the two!⁣
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When he's not crunching numbers, you'll find him whipping up some delicious dishes, hosting get-togethers with friends and family or enjoying the delights at his local cider farm🍺🌿⁣
⁣
All of our mortgage advisors (Connor included) are ready to help you whether you're looking to remortgage, buy your first home, or upgrade to a new one. The best bit is we don't charge a broker fee! Get in touch on 0800 612 5596 or send us a DM⁣
⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#ukmortgage #mortgagesuk #wellingtonsomerset  #mortgageexperts #westcountry

Connor joined our team back in July 2017! He`s lived all around the Southwest, from Cornwall to Bristol, and now he`s found his sweet spot in Wellington, Somerset—right between the two!⁣

When he`s not crunching numbers, you`ll find him whipping up some delicious dishes, hosting get-togethers with friends and family or enjoying the delights at his local cider farm🍺🌿⁣

All of our mortgage advisors (Connor included) are ready to help you whether you`re looking to remortgage, buy your first home, or upgrade to a new one. The best bit is we don`t charge a broker fee! Get in touch on 0800 612 5596 or send us a DM⁣


...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry
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We're flying the flag for Somerset! ⁣
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With a team spread across the Southwest, we're proudly celebrating #SomersetDay and sending a special shoutout to our amazing mortgage advisor, Connor, who's lucky enough to live there.⁣
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Let's have a bit of fun - how many of these places can you name? Share your score in the comments 👇⁣
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...⁣
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#somersetlife #loveforsomerset #visitsomerset #somerset #somersetday

We`re flying the flag for Somerset! ⁣

With a team spread across the Southwest, we`re proudly celebrating #SomersetDay and sending a special shoutout to our amazing mortgage advisor, Connor, who`s lucky enough to live there.⁣

Let`s have a bit of fun - how many of these places can you name? Share your score in the comments 👇⁣


...⁣

#somersetlife #loveforsomerset #visitsomerset #somerset #somersetday
...

4 0
So you've found your dream home and now it's time to apply for a mortgage. Here's what a lender will usually want to know:⁣
⁣
👉 Your income, including any pensions, investments or financial support you receive (e.g. child benefit)⁣
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👉 Your other financial commitments like household bills, overdraft payments and whether you have any children.⁣
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👉 Any potential lifestyle changes that might affect your ability to make repayments in the future, such as having a baby, taking redundancy, or returning to education.⁣
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👉 To prove your incomings and outgoings, you'll need to provide payslips, tax forms, and details of any financial arrangements you have (e.g. car payments, paying off your student loan, pension contributions). You'll also need to show household bills, council tax bills, insurance paperwork, and any invoices for childcare.⁣
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Don't worry if this sounds overwhelming - our team of experts is here to guide you through the process. Give us a call at 0800 612 5596 or visit our website (🔗 in bio) to learn more.⁣
⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage.  Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips

So you`ve found your dream home and now it`s time to apply for a mortgage. Here`s what a lender will usually want to know:⁣

👉 Your income, including any pensions, investments or financial support you receive (e.g. child benefit)⁣

👉 Your other financial commitments like household bills, overdraft payments and whether you have any children.⁣

👉 Any potential lifestyle changes that might affect your ability to make repayments in the future, such as having a baby, taking redundancy, or returning to education.⁣

👉 To prove your incomings and outgoings, you`ll need to provide payslips, tax forms, and details of any financial arrangements you have (e.g. car payments, paying off your student loan, pension contributions). You`ll also need to show household bills, council tax bills, insurance paperwork, and any invoices for childcare.⁣

Don`t worry if this sounds overwhelming - our team of experts is here to guide you through the process. Give us a call at 0800 612 5596 or visit our website (🔗 in bio) to learn more.⁣


...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips
...

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Just because your current mortgage lender worked for you in the past doesn't mean it's still the best fit for your current needs...⁣
⁣
By exploring what other lenders have on offer, you might discover better deals that are more suited to your current needs!⁣
⁣
Whether you're looking to save money, release equity, or consolidate debt, we're here to guide you through the remortgage process. ⁣
⁣
Give us a call on 0800 612 5596 - our advice to you is FREE!⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#remortgageuk #houseowner #homeownerlife #homeownertips  #howtosavemoney #houseaddictive

Just because your current mortgage lender worked for you in the past doesn`t mean it`s still the best fit for your current needs...⁣

By exploring what other lenders have on offer, you might discover better deals that are more suited to your current needs!⁣

Whether you`re looking to save money, release equity, or consolidate debt, we`re here to guide you through the remortgage process. ⁣

Give us a call on 0800 612 5596 - our advice to you is FREE!⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#remortgageuk #houseowner #homeownerlife #homeownertips #howtosavemoney #houseaddictive
...

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If you're a member of the Armed Forces and need mortgage advice - we're here to support you.⁣
⁣
We're a team of (ex-military) Mortgage Advisors, who understand the pressures you face and speak your language - from the terminology to the banter of service life. ⁣
⁣
We can even read military pay statements! ⁣
⁣
Visit our website to learn more (🔗 in bio)  or give us a call on 0800 612 5596.⁣
⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#armedforces #militaryfamily #ukarmedforces #ukmilitary #ukveterans #forcesfamilies #ukveteranowned #mortgagebroker

If you`re a member of the Armed Forces and need mortgage advice - we`re here to support you.⁣

We`re a team of (ex-military) Mortgage Advisors, who understand the pressures you face and speak your language - from the terminology to the banter of service life. ⁣

We can even read military pay statements! ⁣

Visit our website to learn more (🔗 in bio) or give us a call on 0800 612 5596.⁣


...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#armedforces #militaryfamily #ukarmedforces #ukmilitary #ukveterans #forcesfamilies #ukveteranowned #mortgagebroker
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Worried about the unexpected?⁣
⁣
Income protection insurance can provide you with a monthly income to replace any lost income if an accident or sickness keeps you from working.⁣
⁣
But do you really need it? ⁣
⁣
The truth is, no one likes to think about the what-ifs, but it's always better to be cautious and ensure you're well-covered. You can breathe a little easier, knowing that your financial well-being is safeguarded.⁣
⁣
If you'd like help in finding the right policy for you, our insurance advisor Kelly is on hand. Send us a message, or call us on 0800 612 5596.⁣
⁣
⁣
...⁣
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#incomeprotection #financialplanning #moneylessons #mortgagebrokers #mortgageprotection

Worried about the unexpected?⁣

Income protection insurance can provide you with a monthly income to replace any lost income if an accident or sickness keeps you from working.⁣

But do you really need it? ⁣

The truth is, no one likes to think about the what-ifs, but it`s always better to be cautious and ensure you`re well-covered. You can breathe a little easier, knowing that your financial well-being is safeguarded.⁣

If you`d like help in finding the right policy for you, our insurance advisor Kelly is on hand. Send us a message, or call us on 0800 612 5596.⁣


...⁣

#incomeprotection #financialplanning #moneylessons #mortgagebrokers #mortgageprotection
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