Brunsdon Westinsure Financial Services Ltd are fully independent. We operate solely on behalf of our clients and not as the agent of any lender.

For Private Home buyers we can provide advice on mortgages from high street lenders and specialist companies.

For Businesses we are able to advise on commercial lending both for established businesses, those who have only been trading for a short time or businesses just starting up.

We are able to advise our clients on the following:

• Specialist lenders for clients who need to self certify their income, possibly someone who is self employed.
• Self build mortgages.
• Mortgages for clients with impaired credit.
• Mortgages on a Repayment basis.
• Mortgages on a Interest only basis.
• Mortgages which are split on a part Repayment part Interest only basis.
• Mortgages for non standard risks such as Buildings of Unusual Construction, High rise Flats, Flats over Shops and Restaurants etc.
• Mortgages for Properties abroad.
• Mortgages for Commercial properties.

We can arrange and advise on all types of mortgages:

• Fixed
• Discounted
• Tracker
• Capped
• Capped & Collared
• Cashback
• Flexible
• Variable rates

As part of our service we can arrange protection insurance for the mortgage as well as general insurance to cover both the building and contents.

For Independent Professional advice on your mortgage requirements please contact us on 01793 536851 or e-mail us at enquiries@brunsdonwestinsure.com and we will arrange to contact you at a convenient time.

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

DIFFERENT TYPES OF MORTGAGES

Fixed
This type of mortgage sets a 'fixed' mortgage interest rate so that the payments are fixed at a set amount for the fixed period. This was appropriate for you because you wanted the security of knowing your exact monthly commitments in the early years of the mortgage. However, you should be aware that if interest rates fall below the fixed rate you will continue to pay the fixed amount. At the end of the fixed period your mortgage will revert to the lenders standard variable rate at that time, which may be higher or lower than the fixed rate you have selected.

When arranging a mortgage that offers reduced payments in the early years it is important to examine what your future payments could be. Although we are unable to predict what direction interest rates will go in future, the Key Facts Illustration (KFI) can give you an indication of what your monthly payments could be, assuming interest rates remain unchanged.

Discounted
Discounted Variable Rate Mortgage. A variable rate mortgage has an interest rate payable that can rise and fall in line with market conditions. This involves a degree of uncertainty as your monthly repayments can vary, but it is in line with your desire to reflect market conditions throughout the term of your loan.

However, you expressed an interest in reducing your monthly commitments during the first few years of the mortgage and, with this in mind, we have obtained a discounted variable rate mortgage. This operates so that during the discounted period a percentage of the interest rate is 'discounted'. For example, the normal variable rate of X% is discounted to a lower variable rate of X%. At the end of the discounted rate period your loan will revert to the lenders' standard variable rate at that time, which will mean your monthly payment will increase.

When arranging a mortgage that offers reduced payments in the early years it is important to examine what your future payments could be. Although we are unable to predict what direction interest rates will go in future, the Key Features Illustration (KFI) can give you an indication of what your monthly payments could be, assuming interest rates remain unchanged.

Tracker
This type of mortgage is a variable rate mortgage where the interest rate is linked directly to the Bank of England base rate. So whenever the Bank of England base rate changes, the rate on the tracker mortgage is guaranteed to change by the same amount during the tracker period. This involves a degree of uncertainty as your monthly repayments can vary but is in line with your desire to reflect market conditions throughout the term of your loan.

Capped
Capped Rate Mortgage. This type of mortgage places a 'cap' on the maximum amount of interest above which the mortgage interest rate cannot rise. It combines the security of knowing that your monthly repayments will not rise above a certain amount but does allow you to benefit should the rate drop below the cap.

This fits with your need to budget with a certain monthly premium in mind, above which your payments will not rise, but is also in line with your desire to benefit from changes in market conditions. At the end of the capped period your mortgage will then revert to the lenders' standard variable rate at that time. This rate could be higher than the amount of your capped rate. However, should the rate be lower you will remain on that level.

Capped & Collared
A Capped and Collared Mortgage is a variable rate mortgage which has a fixed upper rate limit (the cap) and a fixed lower rate limit (the collar). With a Capped and Collared Mortgage your monthly repayments are variable (can go up or down), but are guaranteed not to rise above a set fixed amount and fall below a lower fixed amount. This means that the borrower knows in advance the highest and lowest monthly payments that he may have to make.

Cashback
A Cashback Mortgage is one where the lender pays the borrower a sum of cash on completion (set-up) of the new mortgage. This sum or "Cashback" is either a fixed such as £1,000 or a percentage of the amount borrowed. This Cashback can be used for any purpose by the customer. Although Cashback mortgages offer an obvious initial short term advantage to borrowers in the form of a cash injection, this type of mortgage often has a "tie in" period for a number of years, whereby the cashback must be repaid in part or in full should you decide to pay off your mortgage or move your mortgage to another lender. You may have to pay the lenders Standard Variable Rate for a specified period of time.

Flexible
A Flexible Mortgage gives you some scope to alter your mortgage payments to suit your ability to pay. It is also useful if you want to pay off the loan quicker than the specified term. I have recommended this type of mortgage as you stated that you would like this facility available to you, as you are likely to make regular overpayments and possibly lump sum payments on occasions. The mortgage product I have recommended has the following features:

Overpayments
You can pay more than the normal monthly mortgage payment and/or pay off extra chunks of the loan throughout. Either, you can benefit straight away from lower monthly interest payments because the amount you owe is lower, or, you could continue payments at the original higher rate. These regular overpayments will help you to reduce the amount you owe more quickly enabling you to pay off the loan in a shorter term.

Variable
Variable Rate Mortgage. This type of mortgage has an interest rate payable that can rise and fall in line with market conditions. This involves a degree of uncertainty as your monthly repayments can vary, but it is in line with your desire to reflect market conditions throughout the term of your loan.