Mortgage Options
Zorria Mortgages know that finding the right mortgage can be difficult, time consuming and maybe frustrating
As an expert mortgage broker, we search the marketplace, looking for the best product for both your circumstances and budget. You can trust us to provide friendly and unbiased advice. Being an impartial mortgage broker we’re not tied to any single lender. This means we can scour the whole financial market to find you the most suitable mortgage product for your requirements, unlike Estate Agent Advisors who have a restricted panel of lenders for which you are likely to pay a big fee to access.
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With Zorria Mortgages there are no long waits for lengthy appointments as there are with various banks or building societies. We do it all for you from the comfort of your own home, or if suitable, wherever you wish. We can also visit you at home on a day and time convenient to you, or if prefer, arrange an initial telephone call to discuss your requirements. What’s more, our advice and guidance is available to anyone in UK.
Types Of Mortgages Available
Repayment Mortgage
The simplest and most common way of repaying your mortgage. With this type of mortgage, your direct debit for the mortgage will repay part of the amount you borrow together with the interest being charged each month. With every monthly payment, you are repaying part of the original loan until the end of the term, when you will own the property outright, without any remaining mortgage
Buy To Let Mortgage
A mortgage product designed specifically for people looking to buy a property with the intention of becoming private landlords. Typically, interest rates may be slightly higher than an ordinary mortgage. We have the experience in this field, to give you the advice you need.
Fixed Rate Mortgage
Fixed rate mortgages give you the security of knowing that your monthly payments will always be the same. With this type of mortgage, you pay a fixed rate of interest for a set period typically over two, three or five years
Capped Rate Mortgage
With capped rate mortgages you will know the maximum you will pay for a set period of time. This type of mortgage offers you the option of knowing the maximum monthly repayments you would have to make during a set period of, typically, two or three years.
Flexible Mortgage
Flexible mortgages allow you to make over payments and underpayments on your mortgage whilst giving you the option to take payments holidays every now and again.
Interest-only Mortgages
Popular in the past, but given a bad name with years of it being offered without the proper advice (Not from us), this type of mortgage can be quite an effective way to help control your finances. More commonly used with Investment or Buy to Let properties this type of mortgage means that you are only paying the interest of your mortgage each month. Although your payments will be lower, the amount you borrow will still be outstanding at the end of the mortgage term – meaning that you will need to have credible arrangements to pay off the mortgage at the end of the term in order to avoid the property having to be sold.
Standard Variable Rate (SVR)
With this type of mortgage your interest rate is set by your mortgage lender and can both rise and fall in line with the Bank of England bank rate changes, but not necessarily at the same time or by the same amount
Tracker Rate Mortgage
Tracker mortgages are linked to the Bank of England Base Rate and can therefore either rise, fall or remain unchanged each month in line with the Base Rate.
Offset Mortgage
Typically, a current account, savings account, or both, are linked to your mortgage and, each month, the amount in these accounts is then offset against your outstanding mortgage as opposed to earning you interest in a savings account.