Residential Mortgages
Helping you get the best mortgage deal for your home and circumstances.
WHY WORK WITH US?
At Rokform Finance, we pride ourselves on delivering exceptional service and expertise to meet all your mortgage needs.
Tailored Solutions
We understand that every client is unique. Our bespoke mortgage and insurance solutions are designed to meet your specific needs.
Expertise in Mortgage Sector
With extensive experience in the industry, our dedicated team offers unparalleled knowledge, strategic insights and practical guidance.
Comprehensive Services
From residential and commercial mortgages to a wide range of insurance products, we offer a one-stop solution for all your financial needs.
Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.
First-time Buyers
For first-time homebuyers in the UK, navigating the mortgage landscape can be both exciting and daunting.
With a variety of mortgage options available, it’s crucial to understand the key elements that will shape your home-buying journey. From securing a competitive interest rate to understanding the impact of deposit size and credit scores, first-time buyers must carefully consider their financial situation and long-term goals.
Armed with the right knowledge and guidance, first-time buyers can confidently step onto the property ladder and embark on this significant life milestone.
Moving Home
When it comes time to sell your home, one of the most significant decisions you’ll face is what to do with your mortgage, a slightly more complex situation than it is for a first-time buyer.
It’s not just about finding a buyer and moving out; it’s also about figuring out the financial implications of transferring your mortgage to a new property or settling it and starting fresh. This choice can have long-term financial consequences, so it’s essential to consider your options carefully.
You might be wondering whether it’s better to pay off your existing mortgage by taking out a new deal or to transfer it to your new home. This decision can be complex, with various factors influencing the best course of action.
It’s not just about the numbers; it’s about your future plans, current financial situation, and the terms of your existing mortgage.
Self Employed
If you’re self-employed it can be harder to get a mortgage, preparation is key so its worth finding out the criteria to suit your needs early and then work towards this.
Some lenders accept one year of accounts, some will take in to account retained profits and some like you having at least three years’ worth of accounts. Either way we can find you terms for your purchase or remortgage.
Remortgage
When you first took out your mortgage, you might have signed up for a really good deal. But over time, the mortgage market changes, and new deals become available. This means there might be a better deal available for you now, which could save you hundreds of pounds, especially if you had a fixed rate.
You won’t necessarily have to change lenders, however, by going out to the whole market, there could be better deals out there for you.
Remember to factor in if there are any arrangement or product fees on any new mortgages you’re looking at, and if you’re ending your mortgage deal early, any early repayment charges from your existing lender.
These fees can add to the cost of remortgaging and might make remortgaging more expensive than staying on your current deal.
2nd Charge
A second-charge mortgage is completely separate from your original mortgage. It can also be a good way to access extra funds without remortgaging, especially if you face penalties to switch away from your current mortgage.
Taking out a second-charge mortgage allows you to use the equity in your home to borrow more money, which could be used, for example, to cover the cost of home improvements or renovations. However, it will mean you have two mortgages to pay off on the property.
Case Study:
Keeping the Family Home with a Non-Standard Mortgage Solution
Our client had spent years trying to buy out her ex-partner and remain in the family home for her children. Every option seemed impossible, and her ex-partner couldn’t move forward with a new purchase while still tied to the original mortgage. Our broker found a solution others had missed. We arranged a non-standard mortgage using a guarantor to boost affordability. The guarantor was added to the mortgage but not the property deeds, avoiding additional stamp duty. This allowed the client to pay off debts, buy out her ex-partner, and keep the family home. After years of uncertainty, she finally had stability and a clear path forward. By using specialist lender knowledge and creative thinking, we achieved what had seemed out of reach.
CONTACT US
Ready to secure the best mortgage deal for your property?
Our team of experienced advisors is here to help you every step of the way.
Book Your Free Initial Consultation: Book an appointment with one of our experts to discuss your financial situation and mortgage needs.
Take the first step towards your property goals with Rokform Finance today!
