Residential Mortgages

First-Time Buyer Mortgages

If this is your first home purchase, choosing the right residential mortgage is one of the most important decisions you will ever make. Residential mortgages can vary greatly. When you speak with one of our experienced advisers, we will help you establish your borrowing capacity and set a suitable budget that includes all the additional costs of buying your first home.

First, we work to understand your circumstances and what you want to achieve, whether you are buying on your own, with a partner, a friend, or family. We know that different residential mortgages suit different needs.

Because everyone’s circumstances are different, it is crucial that you receive the right advice throughout the home-buying process, especially when considering the various residential mortgage options.

Once we understand your requirements and establish a suitable budget, we will work to get you a pre-approval from a lender. This step ensures you have the mortgage backing you need, so you can confidently make an offer on the property you want.

If you would like to speak with one of our team, then please call us on 020 7486 9976.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Mortgage calculator

How much can I borrow?
Are you a professional?

Certain professional occupations, such as lawyers, solicitors and doctors, may be entitled to borrow more. Please call us on 020 7486 9976 to speak to one of our experts.

What will my mortgage cost?
You could borrow
What will my mortgage cost?
How much can I borrow?

This calculator is for illustrative purposes only and may not reflect the true cost of repaying a mortgage before you enter into any new mortgage commitment, you need to be sure that it is affordable on your own personal budget. Use this budget planner to work out what you can afford to pay each month

If you are considering moving house then getting the right residential mortgage advice is crucial to your future and with access to the whole market, we can offer you access to the very best rates on the market.

Home Mover Mortgages

If you are considering moving house then getting the right advice is crucial to your future and with access to the whole residential mortgage market, we can offer you access to the very best rates from our comprehensive panel. you may have a number of options with regards to your current mortgage. Your situation may be that you have a mortgage with your current lender that you wish to port in which case you will need to establish if you can move your mortgage to a new property.

You may also have a penalty should you wish to repay your current mortgage before you move so it is imperative that you speak with one of our professionals so we can understand your situation.

In many cases, clients are looking to move to a larger property which may mean you need to borrow more than your current mortgage.

By speaking with one of our advisers we can establish your budget so you know how much you can borrow for your new purchase. We can also advise you on what options you have with your current mortgage lender.
Mandalay Financial work with all of the mainstream banks, building societies, challenger banks.

Remortgages

There can be a number of reasons why you might want to remortgage. The main reason is to achieve a better rate than your current lender can offer. We recommend speaking with one of our advisers around 6 months prior to the end of your initial fixed term. We can then assess your options and discuss your plans for the future whether it be for the next 2 years, 5 years or 10 years.

Many people remortgage for a number of reasons and we can assist in all of the following areas:

  • Capital raising
  • Home improvements
  • Debt consolidation
  • School fees
  • To purchase another property
  • Business purposes
  • Holidays
  • Weddings
  • Car
  • Divorce

If you would like to discuss your remortgage then please contact us on 020 7486 9976.

Think carefully before securing other debts against your home.

Consolidating debt may reduce your outgoings now, however you may pay more interest over your mortgage term.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Mortgages for the Self-Employed

As the number of self-employed people rises, the mortgage market has responded with a growing range of products.

Each lender uses different criteria when offering mortgages to the self-employed. For instance, when assessing your income, some lenders use your salary and dividends, while others use your net profit. Lenders also vary in the timeframes they consider; some will average your income over three years, some over two years, and a select few will accept just one year’s figures.

Your shareholding in the business also affects how lenders view your application. Depending on your percentage stake, a lender may treat you as either self-employed or employed.

Given this complexity, we recommend speaking with one of our advisers who can navigate the options available for your specific circumstances.

To find out what your options are and how we can assist, please contact us on 020 7486 9976.

Interest-Only Mortgages

Some clients prefer an interest-only mortgage to keep their monthly payments to a minimum. Most lenders now offer these options, although each one sets different rules. For example, lenders vary the amount they will allow on an interest-only basis, and some require a minimum amount of equity and a minimum income level to qualify.

Many lenders offer much more flexibility. Depending on your circumstances, we can arrange an interest-only mortgage for you, typically up to 75% of the value of your property.

Adverse Credit Mortgages

Some clients may have experienced difficulty with current or previous financial commitments, which can cause mainstream lenders to decline their application. However, with more competition in the market, several specialist lenders now actively look to assist borrowers who have faced such difficulties.

At Mandalay Financial, we can help you in this situation. We will work to place you with the right lender and ensure you can move forward with your property purchase or remortgage.

Contact us

Address

Mandalay Financial
4 Manchester Square
Marylebone
London
W1U 3PD

Hours

Monday - Friday: 9:00am - 5:00pm

Telephone

+44(0) 20 7486 9976

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By submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

If you would like to receive a free consultation today, please contact us at info@mandalayfinancial.co.uk or alternatively call us directly on 0207 486 9976.