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Mortgage Solutions are one the biggest mortgage advice networks in Northern Ireland. We make finding a mortgage easier. There are many types of mortgages available on the market and it can be confusing to know which one is right for you.

At Mortgage Solutions we believe that whether you’re looking for your first mortgage, or if you’ve had a mortgage for years, your mortgage deal should meet your changing needs. We have access to a comprehensive range of mortgages from across the market. This means we can offer you advice on a vast range of mortgages from a host of lenders including Halifax, Nationwide, Santander and Virgin Money. Some of the deals we have access to are on an exclusive basis, and aren’t available outside of our network.

Our mortgage advisors are here to provide you with the advice you need in person, over the phone or by a virtual appointment using Skype. They take care of everything from explaining all of your options in a way that’s easy to understand and by helping you select the right mortgage and the right protection for you and your family. They will take care of everything you need for the application process so you don’t have to stress and worry.

Types of Mortgages First Time Buyers Help to Buy

How do you repay your mortgage?

The 2 most common ways of repaying you’re mortgage

1. Repayment mortgages

This is the most appropriate method for repaying a mortgage. Your monthly payments will comprise of 1 portion to pay the interest and another portion to repay the amount you borrowed.

The benefit of this type is that you can see the mortgage reducing each year (albeit very slowly in the early years) and the best bit is that you are guaranteed to repay the debt at the end of your chosen mortgage term.

2. Interest-only mortgages

If you opt for an interest only loan, your monthly payments will only cover the interest on the amount you borrow. This will remain the same and will need to be repaid at the end of your mortgage term. This means you will need a separate investment or combination of investments to generate the capital required.

Most lenders are becoming increasingly strict in terms of the types of investments they will accept as a repayment vehicle and they will need to see your plan for repaying the loan when the interest only period ends.

Did you know that we can help arrange one of these investments for you? Visit our sister company Milecross Financial for more information.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Types of Mortgage...this is where it can get a little confusing!

...But don’t worry, we’ve been doing this for over 10yrs and pulled together a handy guide for you to download to help explain everything you need to know.


First Time Buyers

Getting mortgage ready

Buying your first home is exciting and a huge decision, but that doesn’t mean it has to be difficult. Just speak to us and we’ll help you through every step of the process. By working together, we can help your big move run smoothly.

Our step-by-step guide should help you get mortgage ready. If you’ve any questions, just contact us for a chat or to arrange an appointment with one of our mortgage advisers. After all we make finding mortgages easy!

Our step-by-step guide

1. Find out how much you can borrow

Use our handy mortgage calculator or talk to one of our advisers.

2. Start Saving

You’ll need to start saving or already have a deposit. There are various different types of products available, each with different deposit options. Search and compare mortgages withour mortgage finder.

3. Get your paperwork

You’ll need to gather lots of evidence for the lenders such as bank statements, ID, payslips etc. But we can help you have all that ready from the start of the process.

4. Find a home

This is the fun bit!! Once you find one, put in an offer, cross your fingers and hope its accepted.

5. Get back in touch

Let us know your offer has been accepted and we can go ahead and apply for your mortgage.

6. Find a Solicitor

Or we can help you through the conveyancing with one of our local partners. Your solicitor will carry out the necessary checks and searches on the property prior to putting the contract in place.

7. The contract & sale

The contract for sale is the agreement between you and the seller. It sets out all the agreed details such as price and planned completion date. A few days before completion, your solicitor will request the loan funds from our agreed lender.

8. Protect your mortgage

Before you draw down your mortgage, you should have adequate life assurance and home insurance in place. Nobody wants to think about the bad things in life but we want to make sure all are clients are properly protected. We’ll also help advise and arrange cover specific to your needs.

9. Move in

Don’t be lifting too many heavy boxes as we want your first few days in your new home to be happy ones….There may even be a little something from us to welcome you home.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Help to

Help to buy schemes

Are you tired of renting? Living with your parents? Don’t have a deposit but have checked our calculator and can afford monthly payments?

Now could be a great time to get on the property ladder and we have the solution for you…..

Co Ownership mortgages

Co Ownership mortgages

Co-ownership mortgages are available where you would like to purchase a home but cannot afford to buy 100% of it. Co-Ownership is a Do It Yourself Shared Ownership scheme (DIYSO) exclusively for Northern Ireland. If you hope to own your own home but can’t quite afford it, Co-Ownership may help you onto the home ownership ladder.

You buy a share of your home (between 50% and 90% of the home’s value) and pay rent on the remaining share. We’ll help you to take out a mortgage to pay for your share of the home’s purchase price.

You can even buy more shares in your home any time after you become the owner. This is known as staircasing..

Want to find out more? Talk to one of our advisers now.

Your home may be repossessed if you do not keep up repayments on your mortgage.