Mortgage Advisor Lurgan

Mortgage Direct provides reliable mortgage advice to prospective home owners in Lurgan and elsewhere in Northern Ireland.

With our expert knowledge of the market, we can help you to compare over 100 lenders across the UK as well as getting you access to exclusive deals.

The world of mortgages is confusing at best. We know how frustrating it can be to find the perfect mortgage to suit your circumstances. There are so many options out there and making enquiries to one lender at a time is an arduous and often fruitless task.

This is where we can help. We provide clear and unbiased advice that will narrow down your options and enable you to make informed decisions.

Our friendly neighbourhood mortgage specialists are on hand to answer all your questions and take you that important step closer to gaining the keys to your new home.

If you are searching for mortgage advice in the Lurgan area, please phone 02838 894255 or contact us online today.

mortgage advisor Lurgan

First Time Buyer Mortgage Advice, Lurgan

Buying your first house is a rite of passage, but you don’t need to do it alone.

As overwhelming as the process can seem, it can actually be simplified to a few basic stages that we would be honoured to take you through.

Things you need to take into account include:

  • The deposit – this will be a percentage of the property value and is typically quite low for first time buyers. In Lurgan it may be just 5%, though lender requirements vary. That means you may only need 5% of the total house price saved as capital in order to get a mortgage and buy your first home.
  • External costs – these are costs outside of the mortgage. They include things such as property searches and surveys, home insurance, mortgage arrangement and solicitors’ fees, stamp duty and removal costs.
  • Shared ownership – Buying your first house with someone else as a shared owner changes the mortgage game. Shared ownership means you buy a share of the property and they buy the rest. You pay the mortgage on your bit and pay shared ownership rent on their bit, and you may not need a deposit. When you’re able to, you can increase your share in the house bit-by-bit until you own it all. We will assess your circumstances and advise if you are eligible to apply to shared ownership.

We are here to work with you to get the perfect mortgage that will set you up for those first steps onto the property ladder.

Home Mover Mortgage Advice, Lurgan

Whether you are from Lurgan or are looking to move into the area, we can help you on your journey moving home.

You are a home mover if you want to sell your current property to buy another. Everyone’s circumstances are different and we will take the time to really get to know you before advising on the routes you could take.

In the case of a home mover, a standard residential mortgage is usually the way to go.

Lenders offering this type of mortgage will require a mortgage valuation to be carried out. The purpose of the valuation is simply to assess the property’s worth in relation to how much you are paying for it. Based on the Lurgan property market, mortgage valuations can cost between £175 to £250. It is something to consider when choosing a mortgage lender, because some lenders will pick up the cost of the valuation for you.

For anybody moving from one property to another, stamp duty is also a consideration. This tax is calculated based on the purchase price of your new property and the location. It applies to land purchases as well.

Remember that there will be additional conveyancing fees to cover the legal work involved in the moving process.

It seems like a lengthy list of things to worry about, but our job is to make your life easier by simplifying the whole ordeal. We can support you every step of the way and make sure that you don’t miss a thing.

Remortgage Advice, Lurgan

Generally, remortgaging your property means changing your mortgage lender.

There are a number of reasons why someone might choose to remortgage their property in Lurgan:

  • The term of  their current mortgage contract has come to an end and their circumstances have changed enough that they’d like to find a more suitable mortgage
  • Their house value has raised and they now have a lower loan to value ratio. This gives them the option to take out money for home improvements or large household items
  • Their current mortgage lender doesn’t allow them to make overpayments on their mortgage
  • They want to reduce their interest rate to save money on monthly repayments
  • They’d like to borrow more money on top of their existing mortgage

If you think one of these reasons applies to you, or you are just perusing your options, get in touch and we can advise you.

Self Build Mortgage Advice, Lurgan

If you are getting started on the exciting project of building your own home in Lurgan, you will need a self-build mortgage.

These are specially designed to help you manage your funds as the project develops. The lender will release the money to you as individual payments over a period of time.

It doesn’t matter whether it’s a DIY job or you’ve hired a construction team, self-build mortgages require you to have carefully planned your development.

You need to show lenders that you can budget, so think about how you will spend the money from the mortgage at different stages of the building project.

One benefit of a self-build mortgage in a Northern Irish community like Lurgan is that stamp duty is only charged on land above a certain value. It could be that you are exempt from paying this tax.

Mortgage Direct is happy to work with you on planning your project proposal and choosing the mortgage that best suits your self-build plans.

Buy to Let Mortgage Advice, Lurgan

A buy-to-let mortgage helps you buy a property in Lurgan with the intention of renting it as a source of income.

This kind of commercial intent means that a buy-to-let mortgage often carries heavier financial expenses. For example, there are usually additional tax implications and the deposit may be up to 40%, though this differs widely from lender to lender.

Despite being one of the most expensive mortgages available, if it suits your circumstances, a buy-to-let mortgage can have many benefits for property investment.

Let us help you build up your property portfolio by unlocking the great potential of the right buy-to-let mortgage.

mortgage advisor

About Mortgage Direct

Mortgage Direct NI is based out of Craigavon in Northern Ireland. We operate predominantly in the Craigavon-Portadown-Lurgan area, but our reach extends nation-wide.

Our founder first became qualified in 2008, building up a wealth of expert knowledge as a mortgage and protection advisor before establishing her own business in 2019. Today, Mortgage Direct NI has grown to become one of the leading mortgage and protection firms in Northern Ireland.

We not only advise on mortgages, but offer insurance and protection packages as well. We want to help you achieve your dream home and make sure that you can keep it for decades to come.

Our down to earth professionals will help you to navigate the turbulent world of mortgages, finding the perfect mortgage based on what is important to you.

We will provide you with a dedicated customer support manager who can be on hand to support you throughout the entire mortgage process.

You can get to know us a little better here.

About Lurgan

The town of Lurgan is located near the southern shore of Lough Neagh in Northern Ireland. Its name is thought to come from the Irish An Lorgain, meaning ‘the long low ridge’. The town holds the largest urban park in Northern Ireland; Lurgan Park.

Lurgan was heavily involved in the production of linen and other textiles after the industrial revolution, up until the late 20th century. The town is often included in the Craigavon Urban Area and was majorly impacted by the construction of Craigavon in the 1960s.

Brownlow House– also known as Lurgan Castle– is a further attraction, providing a stately example of a grand 19th century home. It was built in 1833 for Charles Brownlow; an Irish politician and the 1st Baron Lurgan. The estate was used as military headquarters in both the First and Second World Wars.

The address of the Mortgage Direct offices is: 50C Meadow Lane, Portadown, Co.Armagh, BT63 5WW. Click here for directions from Lurgan.

For mortgage advice in Lurgan, please call 02838 894255 or contact us online with enquiries today.