The Mortgages Co UK are offering a number of mortgage offers to the borrowers. The types of mortgages and home loans offered by the mortgage companies in UK vary from one company to another and the borrowers can have a home loan of their choice.
The mortgage brokers in the UK, unlike other countries of the world, are not regulated by the state authorities and hence are free to offer a number of mortgage offers to the borrowers. Currently the mortgage market in UK is experiencing more than 3000 types of mortgages.
No wonder, this not an easy task for a borrower to select the right mortgage from the pool of mortgages and here comes the relevance of a mortgage company in the UK. The prime functionality of the mortgage companies or mortgage brokers in UK is to act as an intermediary between the lenders and borrowers.
The mortgage companies negotiate the various mortgage schemes with the banks or lending agencies on behalf of the borrowers thus finalizing a mortgage deal for its client. The officials of the mortgage company in UK make it a point to arrogate both borrower and lender�s demands.
Keeping transparency about the deal to both sides is another issue that all the mortgage companies in the UK must maintain. The major types of mortgages that are available in UK are discount mortgage, flexible mortgage and fixed rate mortgage. In the discount mortgage plan the borrower is granted a loan with lower mortgage rate and the borrower can enjoy a repayment deal making payments lower than the standard variable rate. Flexible mortgage plan gives the borrowers flexibility to make more payment or even underpayment on the basis of the personal financial condition thus arranging the mortgage payments according to convenience. The borrowers can also borrow money back and go for a payment holiday if needed. In fixed rate mortgage plan, the mortgage rate is fixed for a period of time and the borrower can be in peace knowing for sure that the mortgage rate won�t change for him. Base rate tracker mortgage, offset mortgage and capped are some other types of mortgages available in the UK mortgage market.
After taking up a particular mortgage, the borrower can also decide on the types of the repayment in UK. The borrower can either go for mortgage repayment or interest-only mortgage. In case of repayment mortgage, both the capital and interest are paid while in case of interest-only mortgage, the capital is repaid at the end of the mortgage.
The major mortgage companies and brokers that are leading the mortgage market in UK are:
Bradford & Bingley Mortgages Standard
Bristol & West Mortgages
Market Harborough BS Direct
Hinckley & Rugby BS
Alliance & Leicester Prime
Saffron Building Society
Norwich & Peterborough BS