Bristol based mortgage brokers and advisers.
We will help you get the most suitable mortgage for you.
Whether you’re moving home, buying-to-let, or looking to get onto the property ladder, our friendly Bristol based advice services are here to give you comprehensive mortgage advice.
We guide you through the range of different mortgages available and will help you find the right one for your circumstances.
Take a look through our mortgage calculator to let you work out the cost of the different options available.
Our friendly team of experts will be pleased to help you with any queries.
Types of mortgages
Fixed Rate Mortgages
With a fixed rate mortgage, the interest rate stays the same for a set period of time. This means that for every month during this set period, your mortgage repayments will remain the same.
Tracker Mortgages
A tracker mortgage is a type of variable rate mortgage. The interest rate tracks the Bank of England base rate at a set margin (for example, 1%) above or below it.
Discount Mortgages
A discount mortgage is a type of variable rate mortgage. The term ‘discount’ is used because the interest rate is set at a certain ‘discount’ below the lender’s standard variable rate (SVR) for a set period of time.
First Time Buyer Mortgages
If you have not previously owned a property you are classed as a first time buyer. Some lenders offer discounts on the fees and rates to first time buyers.
Offset or Flexible Mortgages
Offset mortgages allow you to use savings or current account balances you hold to help reduce the overall interest you pay on your mortgage, this can either help reduce the overall term of the mortgage or reduce your monthly payments. Funds held in either the current account or savings account can be withdrawn at any time and there generally in no maximum to the amount that can be helf in the account
Buy to Let Mortgages
A buy to let mortgage is a mortgage secured on a property that will let out. The mortgage can be set up either as an individual mortgage or as a limited company for tax efficiency. When compared to a main residence mortgage you will find that the mortgage rates and fees are typically higher on a buy to let mortgage.
Typically the mortgage is based on the rental income the property will achieve generally up to 75% of the purchase price.
Equity Release Mortgages
Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. You can do this via a number of policies which let you access – or 'release' – the equity (cash) tied up in your home, if you're 55+. You don’t need to have fully paid off your mortgage to do this.
As a rule, you can take the money you release in one lump sum, in several smaller amounts on which you'll pay interest, or as a combination of both.
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“I'm very happy with the service I received from all of the staff at Steve Mears Mortgage Services - Steve, Kayleigh and Andy all tops. During the current uncertainty with mortgages, their advice was crucial to my being able to secure a mortgage best suited to my needs and quickly. A bespoke and highly professional service - 'on the ball'. No hesitation in recommending their services. Thanks to all at Steve Mears.”
Linda Vickers (2022)