Mortgages & More
Financing your future just got easier
Whichever type of mortgage you require, you can be sure of one thing – our free impartial advice from the moment you step into our office or pick up the phone to us. When you’re buying a property, there are plenty of things to worry about. Let us guide you through this process and help to find the best mortgage solution for you to fit with your particular circumstances.
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We find your best deal and do all of the work so that you can focus on moving home.
Silvergate’s mortgage advisors are all fully trained to take your best interests into account. With access to the whole market of mortgage lenders, our ultimate goal is to find you the best deal on your mortgage. Whatever you would like to discuss, whether you’re a first-time buyer, looking to remortgage or if you need some advice - it is worth noting that we can often overcome even the most difficult of circumstances. Your needs, your circumstances, your mortgage.
Our Services:
Mortgages
To secure a mortgage, lenders assess your financial situation, credit history, and the property's value to determine eligibility and terms.
Benefits:
Limitations:
Home Ownership
Enables the purchase of property without full upfront payment.
Investment Potential
Property can appreciate over time, building equity.
Debt Commitment
Long-term financial obligation with interest.
Approval Criteria
Requires good credit and stable income.
Frequently Asked Questions:
How much can I borrow?
Typically up to 4.5 times your annual income, but this varies by lender.
What if I have a poor credit history?
Options may be limited, and interest rates higher; consider improving your credit before applying.
First Time Buyer Mortgages
Tailored for individuals purchasing their first home, these mortgages often come with special incentives like lower deposits or government schemes.
Benefits:
Limitations:
Lower Deposits
Some schemes allow deposits as low as 5%.
Higher Interest Rates
Smaller deposits can mean higher rates.
Government Support
Access to programs like Help to Buy.
Property Restrictions
Some schemes apply only to new builds or specific price ranges.
Frequently Asked Questions:
What is the Help To Buy scheme?
A government program offering equity loans to assist first-time buyers with deposits.
Can I use gifted money for a deposit?
Yes, but lenders may require a letter confirming it's a gift, not a loan.
Equity Release
Equity release allows access to the equity tied up in a property without having to sell it. This is typically done through a loan secured against your home and repaid upon death or moving into long-term care.
Benefits:
Limitations:
Access To Funds
Provides tax-free cash for retirement, home improvements, or other needs.
Interest Accumulation
Interest rolls up over time, potentially reducing the value of your estate.
No Monthly Repayments
Repayment is deferred until the end of the plan.
Impact On Inheritance
May decrease the amount left to beneficiaries.
Retain Home Ownership
You continue to live in and own your home.
Affects Benefits
Could influence eligibility for means-tested benefits.
Frequently Asked Questions:
Can I move house after taking equity release?
Yes, many plans allow you to transfer the loan to a new property, subject to criteria.
Is equity release safe?
Choosing a provider that's a member of the Equity Release Council ensures certain protections.
Life Insurance
Life insurance provides a lump sum payment to your beneficiaries upon your death, offering financial security.
Benefits:
Limitations:
Family Protection
Ensures loved ones are financially supported.
Debt Coverage
Can pay off outstanding debts like mortgages.
Peace of Mind
Knowing your family is protected brings comfort.
Premium Costs
Vary based on age, health, and coverage amount.
Policy Exclusions
Certain causes of death may not be covered.
Frequently Asked Questions:
Do I keep my insurance after completing my mortgage?
Yes, life insurance is a separate product and runs independently of your mortgage.
Can I get life insurance with a pre-existing medical condition?
Potentially, it will depend on severity and the outcome of a medical assessment.
Critical Illness Cover
Critical illness cover provides a lump sum payment if you're diagnosed with a specified serious illness, such as certain cancers, heart attacks, or strokes.
Benefits:
Limitations:
Financial Support
Helps cover medical expenses, rehabilitation, or loss of income during recovery.
Specified Illnesses Only
Coverage is limited to illnesses listed in the policy.
Flexibility
Funds can be used as needed, whether for treatment costs or lifestyle adjustments.
Premium Costs
Can be higher based on age, health, and coverage amount.
Frequently Asked Questions:
Can I claim more than once on a critical illness policy?
Some policies allow multiple claims for different conditions, but this varies by provider.
Is critical illness cover included in life insurance?
Not always; it can be added as a rider or purchased as a standalone policy.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.