Residential Mortgages

Residential Mortgages with Manchester Money

We're 5 Star Rated on Google

    
 
 
      Posted on Google  
   Neelam Dharashivkar 
 5 days ago
 
 
 Trustindex verifies that the original source of the review is Google. A fantastic team with great expertise, a friendly attitude, and a strong commitment to helping others.
  
 
     Posted on Google  
   Leanne Parsons 
 11 days ago
 
 
 Trustindex verifies that the original source of the review is Google. From start to finish re-morgaging my property has been a seamless process. Carl my advisor communicated well at a time that was convenient for me and totally took the stress out of the whole process.
  
 
     Posted on Google  
   Jeremy Allmand-Smith 
 11 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Kept us up to speed during the whole process, communicated well and got us a great deal, would recommend to anyone!
  
 
     Posted on Google  
   William Staniforth 
 12 days ago
 
 
 Trustindex verifies that the original source of the review is Google. My experience with Manchester money has been great from start to finish. Adam has been very helpful with me securing my first property, very professional!
  
 
     Posted on Google  
   Matthew Whittle 
 12 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Carl was great and massively helped us with sorting our mortgage to move house
  
 
     Posted on Google  
   Jessica Whittle 
 12 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Carl has been great for us so far with the set up of our new mortgage. Nothing has been too much trouble. He is very approachable and came highly recommended from a friend too. Carl made it very simple and took the stress away at an already stressful time. Would 100% recommend for all your mortgage needs.
  
 
     Posted on Google  
   Mia Berry 
 14 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I honestly cannot recommend Carl Barnes and Manchester Money highly enough. When we first started looking into getting a mortgage, I genuinely thought we would never be able to get one. The whole process was so daunting and I was convinced that there was no way we would the point of buying our first home. From the very very beginning, Carl completely changed that. He was incredibly knowledgeable, patient, and reassuring, and took the time to explain everything to us in a way that actually made sense. No question was ever too small, and whenever we were worried about something he was always there to help. What really stood out to us was how far above and beyond he want. He even took the time to answer our questions outside of his normal working hours, which made such a difference during what can be an incredibly stressful process. We never once felt like we were bothering him or that we were just another application. He genuinely cared about helping us get there. And somehow, after thinking it would never happen, our mortgage was approved!! We are now one step closer to buying our first home, and we genuinely don't think we would have felt anywhere near as confident or supported through the process without Carl. He has been absolutely fantastic from start to finish, and we will forever be grateful for all of his help. If you're looking for a mortgage advisor who is knowledgeable, responsive, genuinely cares about his clients, and will go to the extra mile to help you, I couldn't recommend Carl more highly. Thank you so much for helping make something I genuinely thought impossible a reality <3
  
 
     Posted on Google  
   Claire Yates 
 17 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Recently contacted MM and the team were brilliant. Friendly, helpful and worked really hard when we encountered a few obstacles with our mortgage. Aaron especially made sure that everything was explained in detail with lots of helpful advice from Julia too. Would definitely recommend and use them again.
  
 
     Posted on Google  
   Ava Elliott 
 17 days ago
 
 
 Trustindex verifies that the original source of the review is Google. We could not recommend Manchester money enough! Aaron has been so patient, professional and amazing with us in buying our first home. He keeps us updated through each process, explains everything in good detail so we could understand. He has held regular calls with us and guided us on the right path. We are both very greatful for all of his help!
  
 
     Posted on Google  
   Ryan Jenkinson 
 18 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Brandon has been fantastic from the get go. Extremely helpful and made us feel at ease when we our most stressed. Made the whole journey from the start to now very easy for us. We wouldn’t go with anybody else.

Residential Mortgages Manchester

Last updated: 15th February 2024

Residential mortgages are one of the most common types of loans taken out by individuals. These mortgages are used to finance the purchase of a residential property, such as a house or apartment, and are typically repaid over a period of 25-30 years.

Residential mortgages are an important tool for individuals looking to purchase a home. With a variety of mortgage products available, it’s important to research your options and work with a mortgage broker to find the best mortgage for your needs. By understanding the different types of mortgages available and the application process, you can make an informed decision and purchase your dream home.

Types of Residential Mortgages

There are several types of residential mortgages available, including fixed-rate mortgages, tracker mortgages, and variable-rate mortgages. Fixed-rate mortgages are popular among homebuyers because they offer a fixed interest rate for a set period, usually between 2-10 years. This provides stability and predictability in monthly payments, which can be helpful when budgeting for a new home. Tracker mortgages, on the other hand, track the Bank of England’s base rate and the interest rate can change in response to changes in the base rate. This means that when the base rate changes, the interest rate on the mortgage changes by the same amount. Variable-rate mortgages are similar to tracker mortgages, but the interest rate is set by the lender and can change at any time.

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First Time Buyer Mortgages

For first-time buyers, there are special mortgage products available that offer higher loan-to-value ratios, which means that buyers can borrow a larger percentage of the property’s value. These mortgages often come with higher interest rates and fees, so it’s important to weigh the pros and cons before choosing this option.

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Home Mover Mortgages

Are designed for individuals who already own a home and are looking to move to a new property. There are several reasons why someone might choose to get a home mover mortgage:

Upsizing – If you have outgrown your current home, you may need to move to a larger property. This could be because your family has grown, you need more space for a home office or hobbies, or you simply want more room to entertain.

Downsizing – On the other hand, if you no longer need as much space as you used to, you may want to downsize to a smaller property. This could be because your children have moved out, you want to reduce your expenses, or you simply want to simplify your life.

Relocation – If you need to move to a new area for work or personal reasons, you may need to sell your current home and purchase a new one. This could involve moving to a different part of the country, or even to a different country altogether.

Regardless of the reason for moving, a home mover mortgage can help you finance the purchase of your new property. With a range of mortgage products available, you can choose the one that best fits your financial situation.

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Applying For A Mortgage

When applying for a mortgage, it’s important to check your credit score and save for a deposit. Most lenders require a deposit of at least 5% of the property’s value, but a larger deposit can help you get better mortgage rates and terms. You will also need to get an Agreement in Principle from a lender, which indicates how much they are willing to lend you based on your income, expenses, and credit score. Once you have found a property, you can submit a mortgage application to a lender, which will involve providing information about your income, expenses, employment status, and any other debts you have. If your application is approved, you will need to get a survey of the property and arrange for conveyancing (the legal transfer of ownership) before completing the purchase.

At Manchester Money we have brokers that can help you navigate the complex mortgage market, find the best deals, and guide you through the application process. They can also help you understand the different types of mortgages available and how they fit with your financial goals and circumstances.

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