AMS


Advanced Mortgage Services Ltd is an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Advanced Mortgage Services is registered in England. Company registration number 4751565.

Cherry Tree House, 20 Inverleigh Road, Bournemouth, Dorset, BH6 5HA.

Advanced Mortgage Services Ltd website is only for the use by UK residents & is subject to the UK regulatory regime.


David Hindmarch

Mortgage & Insurance consultant

Home AMS Mortgages Equity Release Insurance Estate Planning Business Services About Me Contact Me

FCA Consumer

Useful Links

The Money Advice Service

Privacy Statement

Client Agreement

Just Call   01202 422141

Free phone 0800 0029077

Or Request a call back

What is a mortgage?



Regardless of whether the mortgage is for your main residence or an investment property such as a buy to let, it has effectively the same legal definition of being a loan secured against the property (asset). Within the terms of this loan will give the lender the rights to sell the property (asset) to repay the outstanding loan.  


The mortgage contract will have set terms & conditions which both the lender and borrower will agree to be bound by. These terms will include the amount of the loan, the term of years the loan is to be repaid over, how the loan is to be repaid either by capital & interest repayments (repayment mortgage) or by interest only monthly payments requiring a lump sum repayment at the end of the agreed mortgage term (interest only mortgage).


Other conditions could include redemption penalties and periods these are effective, interest charging conditions such as fixed rate periods, discount or tracker rates with associated terms. Mortgage terms can also include costs to be considered such as arrangement fees, product charges, valuation fees, and solicitor costs.


Some mortgage products allow over payments, drawn down facilities, and offset savings accounts, each of which will have its own specific terms & conditions.


Even though the mortgage agreement is taken out for a specific period it is normally possible to end the existing mortgage contract and transfer to a new mortgage contract with another lender (re-mortgage). This will be subject to existing redemption penalties, overall cost benefits and meeting the new lenders criteria.


It is also normally possible to transfer the existing mortgage contract to a new property without changing the terms of the mortgage contract or incurring redemption penalties. This is subject to meeting the lenders criteria and their agreement and it may be possible to increase the borrowing with a further advance which is likely to be on a new product with its own terms and conditions.

 

As you can see these contracts contain many different legal terms and conditions which can be confusing and could become costly if not fully understood.


Part of my service to you is to advise you which product I believe is most suited to meet your needs and also help you understand details of the mortgage contract.


Mortgage Home

Types of Mortgages

Re-Mortgage

Buy To Let

Lending Criteria

First Time Buyer

What Will It Cost Me?

What Is A Mortgage? Advice Adviser Broker in Bournemouth, Christchurch, Poole, Highcliffe, New Milton, Lymington, Ringwood, Ferndown, Dorset and Hampshire.


Your home is at risk of repossession if you do not keep up repayments on a mortgage or any other loans secured on it and you should think carefully before securing any debts on your home


In regard to residential mortgages we normally charge a fee of 0.5% of the loan. This fee will be reduced by any commission received from the lender typically 0.35%. Fees would become payable on completion of the mortgage.

Buy To Let mortgages are not regulated by the Financial Services Authority

[googlefd407ba59a151e5e.html]