Welcome to Vital Financial Solutions
Vital Financial Solutions of London (UK), offers a one stop specialist financial solution for anyone requiring advice on Life Insurance/ Life Cover, Pensions, Investments, Mortgages, Savings and Loans.
Our Vital Financial Solution Mortgage advisers are all independent. We specialise with first time buyers looking to buy their first property. We can help property developers looking for loans or help remortgage the numerous buy to let properties and mortgages that you have. We offer all the different products in the market place ranging from fixed rate mortgages, tracker mortgages and discounted mortgages.
Whatever your situation, our vital financial solution mortgage advisers are confident they can help.
Type of Mortgages
Interest Only Mortgage
This type of mortgage aims to simply pay off just the interest of the mortgage rather than the capital. They are generally being phased out and are only available to either existing borrowers or purchaser’s with very large deposits.
This type of mortgage will ensure that the mortgage is repaid at the end of the term. This is now the main mortgage type that Lenders will be offering. It is still possible to arrange a mortgage with a 10% Deposit. However, the larger the deposit that you are able to put down, the better the deal or rate, we can obtain. If you would like to speak with one of our VFS Mortgage Advisors, please contact us today.
We are able to obtain Tracker Rates, anything from 2 years up to the lifetime of the mortgage. The Tracker Rate tracks the Bank of England Interest Rate. If the Bank of England increases interest rates, then it is likely that your monthly payment towards your mortgage will increase, but similarly decrease if the Bank of England reduces interest rate.
If you want to know exactly what your monthly payment is over a fixed period of time, for example 2 years or 5 years. You can take out a fixed rate product. These tend to be more expensive than the tracker products, as you have guaranteed what you will be paying monthly over a fixed period of time. These types of products tend to suit people who do not want the uncertainty of their mortgage payment increasing should interest rates increase.
This product is very similar to the tracker one. The only difference is that your mortgage payment is based on what the individual lender does, as opposed to the Bank of England. For example, if the Bank of England reduces it’s interest rate, it is up to the individual lender as to whether or not they too reduce their own interest rate. Again, they tend to be cheaper than fixed rate products.
Standard Variable Rate
Once the rate you are on has finished. You have two choices. The first choice is to do nothing and stay on the Lender’s Standard Variable rate. This is generally a more expensive option. The other option is to remortgage and choose another rate ie Fixed, Tracker or Discounted.
If you require any advice on the above, our VFS dedicated Mortgage team are more than happy to discuss all the options with you.