Choosing a mortgage broker - Which?
Mortgages – Please note your home may be repossessed if you do not keep up repayments on your mortgage.
Most BTL mortgage lending is not regulated by the Financial Conduct Authority (FCA).
Equity Release – This form of lending is most suitable for those over 65, however, it’s possible to do this if you are over 55. It is important to understand that these are lifetime mortgages and to understand their features and risks, you will need to have a personalised illustration.
Unlike residential mortgages, most commercial mortgages are not regulated. The only major exception to this rule occurs if 40% or more of a property secured against a loan is residential. The interest rate on commercial loans is often higher than the rate on personal loans. This means you'll have to pay more in interest over the life of the loan. You may also have to pay fees for taking out a commercial loan.
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