MORTGAGES & REMORTGAGES

With mortgages becoming ever more complex and lenders changing rates so frequently, it is more important than ever for you to have a mortgage broker on your side.

Whether you are a first time buyer, moving house or looking to remortgage to improve your rate, we can tailor a mortgage product to suit your needs.

As mortgage brokers, we are independent of any lender and will compare products from the "whole of market". After a detailed conversation assessing your requirements you will recieve advice and a recommendation about the mortgage best suited to your requirements and circumstances.

You may qualify even if you have poor credit, mortgage arrears, CCJ’s or an IVA.

Why choose nm finance?

• Experience - nm finance has been providing quality mortgage advice since 1998
• Professional - nm finance is authorised by the Financial Services Authority and the Office of Fair Trading
• Efficient - our trained staff will ensure that your application is dealt with promptly and efficiently and unlike some firms we will provide assistance right up to completion and beyond.

Types of mortgages

Nm finance is able to offer a full range of mortgage products including a wide choice of rates and rate types. The most common types of rates are:

• Tracker – Follows or tracks a specified rate, normally Bank of England base rate (base rate tracker). This rate is calculated as a margin (usually above) the base rate. If the base rate is 1% and the margin is 2%, the resulting pay rate would be 3%. If the base rate changes the rate you pay also changes in line.
• Fixed – As the name implies a the rate is fixed for the duration of the fixed rate period, usually 2-5 years although longer term fixes are generally available.
• Discount – A discount from a variable rate, generally the lenders standard variable rate (SVR). The rate you pay will move in line with changes to the lender’s SVR.
• Capped – Capped rates are similar to tracker and discount mortgages, but have an upper limit on the payment rate. For instance a capped tracker may follow bank base rate with a margin of 2% but be capped at 6.5%. This would mean that once bank base rate reached 4.5% (giving a pay rate of 6.5%) your interest rate would not increase any further.