MORTGAGE SERVICES

Your mortgage is probably the largest financial transaction and commitment you are likely to undertake. Surely then you should seek mortgage advice which is individually tailored to your needs and requirements?

We are not tied to any particular lender, which means that we have the ability to act on your behalf in order to establish the most appropriate mortgage solution for you.

Please find below a list of the mortgage products we provide and a brief introduction to each product. Our highly experienced team of mortgage advisers would be happy to discuss your requirements so please do contact us for an informal discussion to see how we might be able to help you.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

MOST FORMS OF BUY TO LET MORTGAGE ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

  • Repayment Methods for your Mortgage

    Once their mortgage application has been accepted in principal, the borrower may have the option of deciding how he or she repays their loan: on a ‘capital and interest’ basis, or on an ‘interest only’ basis.

    Capital and Interest Mortgages

    An arrangement where part of the monthly repayment is used to pay the interest and the remainder is used to reduce the original amount of the loan. In the early years of the mortgage, most of the monthly repayment goes towards paying the interest; in later years, the interest charges diminish and more of the repayment is available to reduce the loan amount.

    Interest-only Mortgages

    Interest only mortgages are a type of mortgage where only the interest is repaid. The full capital amount remains outstanding during the mortgage term and is repaid in one lump sum at the end of the term.

    Lenders require evidence that a customer will have in place a clear credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.

    Repayment strategies may include deposits or investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria.

    This means that the mortgage payments each month will be lower than those of a repayment mortgage for a similar loan and term. Where the repayment of capital is an investment the investment runs alongside the mortgage but is separate from it; the cost should be taken into account when calculating the overall costs of the mortgage arrangement.

    Every month, you then pay this interest to the lender for the duration of the loan. The lender calculates your monthly repayments depending upon how the rate you have chosen is set. The monthly interest payments may vary dependent on whether the interest rate is fixed or variable. At the end of the loan period, the lender will expect the initial capital they lend you to be repaid in full by whatever means you have arranged. 

    Having decided on the loan repayment method, the borrower then needs to consider what kind of mortgage they want. The main options, some of which may or may not be available depending on the mortgage market and general economic conditions prevailing at the time, are described below.

  • Fixed Rate Mortgages

    The interest on the loan will neither rise nor fall for a pre-determined period of time. Although the monthly repayments will stay fixed, if interest rates fall, the borrower could potentially end up paying more than he or she would on another type of mortgage.

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  • Standard Variable Rate Mortgages

    The monthly mortgage repayments are based on the prevailing rates of interest the lender charges - not the Bank of England (BoE) base rate. In other words, it is entirely the lender’s decision on the rate of interest they charge the borrower.

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  • Tracker Mortgages

    The interest rate applied to the mortgage repayment is linked directly to the Bank of England’s base rate and will rise and fall in line with that rate.

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  • Cashback Mortgages

    A mortgage that pays a lump sum cash rebate of a fixed amount of money, or a percentage of the actual loan, on completion of the mortgage or shortly after.

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Company address: Jubilee Finance, 6 Opus House, Elm Farm Park, Great Green, Bury St Edmunds, Suffolk, IP31 3SH

T: 01359 305065 E: [email protected]

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

Jubilee Finance is a trading name of Belham Ltd which is an appointed representative of TenetLime Ltd, which is authorised and regulated by the Financial Conduct Authority. TenetLime Ltd is entered on the FCA register (www.fca.org.uk/register) under reference 311266.

Registered in England & Wales under reference 07401124
Registered office address: Unit 17 Park Farm Business Centre, Fornham St Genevieve, Bury St Edmunds, Suffolk, IP28 6TS