John Everest | Everest Mortgages

What Is Development Finance?

NewsNovember 24, 202541Views 0Likes 0Comments

Standard mortgages don’t fund build costs. Development finance fills that gap, funding land and construction with staged drawdowns tied to build progress and monitoring surveyor sign-offs.Typical structure• Initial advance to acquire land/assets. • Further funds released in stages as works are completed. • Interest may roll up to preserve cash flow during the…

What Is a Bridging Loan?

NewsNovember 19, 202542Views 0Likes 0Comments

When timing matters more than pricing, bridging loans shine. They’re secured, short-term facilities designed to complete purchases quickly, fund refurbishments, or release cash pending a sale or refinance.How bridging loans work• Term: typically 3–18 months (up to ~24 months with some lenders). • Security: usually one or more properties (1st/2nd charge). • Interest:…

What Is a Commercial Mortgage?

NewsNovember 17, 202550Views 0Likes 0Comments

Unlike residential mortgages, commercial mortgages fund business premises and investment properties such as offices, retail units, warehouses, and mixed-use buildings. The lending is bespoke: underwriters assess the business, property, cash flow, and borrower experience.Types of commercial mortgages• Owner-occupied: for businesses buying premises they trade from. • Commercial investment: for investors purchasing property to…

What Is a Joint Borrower Sole Proprietor Mortgage?

NewsNovember 12, 202570Views 0Likes 0Comments

For many first-time buyers, affordability is the biggest hurdle. Even with a healthy deposit, lender income assessments can block access to the right property. A joint borrower sole proprietor mortgage (JBSP) can be a solution. It allows another person (often a parent) to boost the application without being on the property deeds.What is a…

What Is a Joint Mortgage?

NewsNovember 10, 202563Views 0Likes 0Comments

A joint mortgage allows couples, friends, or family to combine incomes and co‑own property. Everyone on the mortgage is liable for repayments.How it worksLenders assess all applicants’ incomes, credit, and commitments. Ownership can be set as joint tenants (equal shares) or tenants in common (flexible shares). Legal agreements (declarations of trust) can protect…

What Is a Guarantor Mortgage?

NewsNovember 5, 202574Views 0Likes 0Comments

For buyers who fall short on deposit or affordability, a guarantor mortgage can bridge the gap—without the guarantor owning the property.How it worksA parent/relative guarantees repayments, often securing the loan against their home equity or a savings pledge. If the borrower defaults, the lender can claim against the security. The guarantor may be…

What Is a Variable Rate Mortgage?

NewsNovember 3, 202569Views 0Likes 0Comments

Variable rates trade certainty for flexibility. Your lender’s SVR can move, affecting your payments; discount deals sit at a margin below SVR for a period.How it worksSVR is set by the lender and can change at their discretion (often influenced by the base rate). Discount mortgages track SVR minus a discount (e.g., SVR…

What Is a Tracker Mortgage?

NewsOctober 29, 202594Views 0Likes 0Comments

Tracker mortgages are variable products that move directly with the base rate—your payments can rise or fall during the deal term.How it worksYour rate = base rate + a fixed margin (e.g., +0.75%). If base changes, your payment changes accordingly. Terms often last 2–5 years before reverting to SVR.AdvantagesLower costs when…

What Is an Interest Only Mortgage?

NewsOctober 27, 2025106Views 0Likes 0Comments

Interest only keeps monthly payments low, but the capital must be repaid at term end via investments, savings, or sale—so a robust strategy is essential.How it worksMonthly payments cover interest only; balance remains. At maturity, repay the capital in full using an approved repayment vehicle or disposal plan.Who qualifiesBorrowers with strong…

What Is an Offset Mortgage?

NewsOctober 22, 202598Views 0Likes 0Comments

Offset mortgages pair a savings account with your mortgage: your savings don’t earn interest; instead, they reduce the mortgage balance used to calculate interest.ExampleMortgage £200k, savings £20k. Interest charged on £180k—cutting cost and potentially term, while you keep access to savings.Key featuresFlexible access to savings, reduced interest, potential term reduction, and…

What Is a Fixed Rate Mortgage?

NewsOctober 20, 202585Views 0Likes 0Comments

Fixed rates offer certainty for 2/3/5/10 years+, protecting you from rises and simplifying budgeting.How it worksYou agree a rate for a fixed period; payments stay the same. At expiry you revert to SVR unless you remortgage. Many borrowers switch again before SVR.Example£200k over 25 years at 4% fixed ≈ £1,056/m. Even…

What Is a Second Charge Mortgage?

NewsOctober 15, 202584Views 0Likes 0Comments

A second charge (secured) loan sits alongside your first mortgage, using your property as security to raise funds while keeping an attractive main rate intact.How it worksYou continue paying your first mortgage and take a separate loan secured on available equity. On sale, the first charge is settled before the second.Why use…