Mortgages
At Everest Mortgage Services, our goal is to help each client secure the right mortgage deal. From first-time buyers to purchasing a holiday home, our experts are with you every step of the way. We’ll scour the whole market to find the perfect deal for you because our award-winning service is proven to deliver the best mortgage deal out there.
We’ll Help You Discover The Right Mortgage
Repayment Mortgage
Our team will work closely with you to determine which type of mortgage deal works best for you and your circumstances. We explain everything as part of our service, so if you have heard of repayment mortgages but are unsure of what they are, we have you covered.
Repayment mortgages are straightforward mortgages where the monthly payments are split into two. To begin with, the repayments will cover the interest and this will mean that any outstanding capital will reduce at a slower rate during the initial years of the mortgage.
Next will involve repaying the actual loan and as you make each payment, you will have more equity in your property. The monthly payments are calculated by taking the total amount that you owe as well as interest across the term of the mortgage. Our team will talk you through this type of mortgage and how it might be right for you. We’ll also cover repayments and what you can comfortably afford, ensuring you obtain the right deal which eventually will get you the keys to your new home!
Example
Year
|
Monthly Repayment
|
Of Which Interest
|
Total Owed
|
---|---|---|---|
Year 0
|
£948
|
£494
|
£200,000
|
Year 1
|
£948
|
£480
|
£194,543
|
Year 5
|
£948
|
£436
|
£171,006
|
Year 10
|
£948
|
£353
|
£137,328
|
Year 15
|
£948
|
£257
|
£98,211
|
Year 20
|
£948
|
£145
|
£52,775
|
Final Payment
|
£0
|
||
Total Repaid (Before Fees)
|
£284,478
|
Example shows a 25-year repayment mortgage for £200,000 with an interest rate of 3%
Example
Year
|
Monthly Repayment
|
Of Which Interest
|
Total Owed
|
---|---|---|---|
Year 0
|
£500
|
£500
|
£200,000
|
Year 1
|
£500
|
£500
|
£200,000
|
Year 5
|
£500
|
£500
|
£200,000
|
Year 10
|
£500
|
£500
|
£200,000
|
Year 15
|
£500
|
£500
|
£200,000
|
Year 20
|
£500
|
£500
|
£200,000
|
Final Payment
|
£200,000
|
||
Total Repaid (Before Fees)
|
£349,922
|
Example shows a 25-year interest only mortgage for £200,000 with an interest rate of 3%
Interest Only Mortgage
As experts, we make sure that we cover all available options because we work hard to find the perfect mortgage deal for you. If an interest-only mortgage is a suitable option, we’ll talk through your options and identify what works for your circumstances. Our trusted experts make sure that you make an informed decision because obtaining a mortgage is one of the biggest decisions you’ll ever make.
Interest-only mortgages are relatively simple to understand. As the name suggests, all you’ll be required to pay is the interest owed on the mortgage. This means that your monthly payments will be lower than the payments made for a repayment mortgage.
One the mortgage term has come to an end, you will still owe the same amount as you initially borrowed to the lender. This is an option that might work for you but then it doesn’t suit everyone which is why our mortgage experts take a transparent approach when discussing the right option for you.
Choose Your Mortgage Type
From Repayment to Interest Only, we can help you find the right mortgage product
Discuss Your Details
Our team will go through your circumstances and your situation to help discover the right option for you.
Review Your Options
Once we have all we need, our team will present your options in a clear and concise way.
We Make Things Clear From the Start
Finding a new mortgage deal can seem daunting. It can also be stressful and frustrating but with us by your side, you won’t have to worry about a thing. We’ll talk you through your options, explain the different terms and mortgages and help you discover what’s right for you. Once you’re armed with everything you need to know, only then can you make the right decision and this is where we make a difference.
Credit Assessment
The right deal is all about understanding your current financial position. That’s where we stand out.
Market Appraisal
Our experience ensures we work hard for you. We work with many different lenders who have different requirements. We’re in the know, so we know exactly where to begin when it comes to finding the right deal for you.