At Azembel we understand more than most the unique property market in and around London; we live and breathe it each day. We believe we are the most recommended mortgage broker in London and have become so by just focusing on the most important fundamentals that many other mortgage advisors lose sight of - relationship, advice and customer service.
Our professional mortgage advisers take the time to fully understand the needs of our clients, whatever they require, however complex, and focus on providing genuine honest advice to assist you through every step of the process.
Azembel has access to exclusive deals, from high street products, private banking facilities or buy-to-let portfolio deals.
Our mortgage services cover:
- First Time Buyers
- Moving homes
- Large mortgage loans
- Offshore purchase
- Bridging finance
- Secured loans
All these services for mortgage advice backed by the degree of service you would expect from a high-end brokerage, so whilst we concentrate on doing the hard work, our clients have the time to do the things they would enjoy most within their leisure time.
Azembel – helping you to own and protect your home
Repayment mortgages, also known as Capital & Interest Mortgages work exactly as any other loan. Each and every month the borrower makes a payment which would include the interest as well as some of the capital amount borrowed. In essence, as long as the repayments are made each month, the amount owed will slowly reduce and the full mortgage will be repaid by the end of the mortgage term.You will then own the property in full with no debt to pay.
With an Interest only mortgage, borrowers only have to be compelled to pay off the interest on the mortgage and not the capital. In other words if you borrow £500,000 on this basis over 30years, at the end of the 30 years you still owe £500,000!
However, the responsibility is upon the borrower to make sure, they have a savings vehicle such as an ISA or other assets that would be sufficient funds enough at the end of the mortgage term to pay off the mortgage in full. If there is no payment made in full at the end of the term, the property would have to be sold to pay back the loan.
Although this does give an amount of flexibility and in most cases lower monthly payments, there is however, some degree of risk associated with this type of product, because if property prices fall or savings plans do not perform as expected you could be at a disadvantage.
This product can be on either a Capital Repayment or an Interest Only basis, buy-to-let mortgages are products that are available on properties that are purchased with the intent to be let or rented out. The amount to be borrowed, unlike the standard mortgages, is based upon the rental income received not the borrower’s overall employment income. Whilst mortgage lenders differ in their calculations, as a rule of thumb the rental income must at least equal 125% of the interest only mortgage payments at an assumed rate of 5%.
For more information on how we can help you, please get in contact with us.