Pure

Mortgages

Which mortgage best suits you?

We have access to the whole of market for mortgages, which spans over 80 lenders and hundreds of schemes. These schemes are updated daily and can change from one minute to the next, therefore we know how confusing it can all be. We can identify which schemes suit you best and ensure that time isn’t wasted in locating the right lender first time.

There are six basic types of scheme:

1. Variable
   A rate that changes as and when the lenders decide to amend their own rates. Generally higher than any other rate but far more flexible if you want to re-mortgage.
2. Fixed
   A rate that remains the same for a certain period.
3. Discount
   A rate that follows either a lender’s variable rate or the Bank of England rate with a discount for a set period.
4. Tracker
   A rate that follows the Bank of England rate up or down.
5. Capped
   A rate that can fall but cannot go above a certain maximum level.
6. Flexible
   A rate that offers you options within the mortgage term to change your payments, make overpayments or use your savings to reduce the overall mortgage.

And two basic methods of repayment:

Interest Only
You pay only the interest on your mortgage to the lender without reducing the overall mortgage debt.

Capital & Interest (Repayment)
You pay an element of interest and capital back to the lender, which ensures that your mortgage gradually reduces to zero over the mortgage term.