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Mortgages Made Simple
Welcome to Filium Clerkson, your dedicated Mortgage Broker in Reading, Berkshire. We specialise in providing tailored mortgage solutions that meet your unique needs. With a deep understanding of the local property market and a commitment to exceptional service, we're here to guide you through every step of your mortgage journey.
Whether you're a first-time buyer, looking to remortgage, or invest in property, trust us to make your home financing experience smooth and stress-free. Let's start your path to home ownership today.
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Types of Mortgages
Fixed-Rate
A Fixed-Rate Mortgage offers stability by locking in a consistent interest rate for a predetermined period, often ranging from two to five years. This provides borrowers with predictable monthly payments, shielding them from fluctuations in interest rates.
Interest Only
With Interest-Only Mortgages, borrowers pay only the interest where the principal loan amount remains unchanged. This can result in lower monthly payments, but it's crucial to have a plan for repaying the principal at the end of the interest-only period.
Tracker
Tracker Mortgages are linked to a specific benchmark interest rate, often the Bank of England's base rate. The interest rate fluctuates based on changes in the chosen benchmark, providing transparency for borrowers. This type of mortgage can be advantageous during periods of low-interest rates but may result in higher payments if rates rise.
Variable-Rate
Variable Rate Mortgages, also known as Adjustable Rate Mortgages (ARMs), feature interest rates that can fluctuate based on market conditions. While initial rates may be lower than fixed-rate options, borrowers should be prepared for potential changes in their monthly payments.
Off-Set
An Offset Mortgage links a borrower's savings or current account balance to their mortgage, effectively reducing the interest paid. The outstanding mortgage balance is calculated based on the difference between the mortgage debt and the savings balance, potentially allowing for quicker repayment.
Buy-to-Let
Buy-to-Let Mortgages are designed for individuals purchasing properties with the intention of renting them out. The criteria for these mortgages often consider the potential rental income, and interest rates may differ from standard residential mortgages.