Specialist

Mortgages

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There may be times when securing a standard mortgage is simply not possible and Mortgage Monkeys can help you to explore other, less mainstream approaches. In these instances our personal, individually tailored approach is more important than ever.

Need Equity Release Advice?

Equity release can be a great way of releasing a tax free pot of money to enjoy in retirement, the money can be used to gift to family, to spend on holiday, to repay debt and much more. We are in partnership with Key, the largest Equity Release company in the UK with over 20 years’ experience offering an Equity Release plan that is tailored for you. 

Lump Sum or Drawdown

  • Choose to release a lump sum of tax free cash.
  • Take out an initial amount and then draw down money in stages.
  • You only ever pay interest on the withdrawn portion of your release.

No Monthly Payments

With a Lifetime mortgage there are typically no monthly repayments as the loan, plus roll up interest is repaid when the plan comes to an end.

Partial Capital Repayments

Make voluntary ad hoc repayments between 10 and 20% of the initial amount you have borrowed and reduce the size of the loan on which interest is paid.

Early Repayment Charges

The majority of Key plans have fixed early repayment charges, so you always know what the charges will be should you wish to repay your loan early.

Enhanced

If you or your partner have any health conditions, such as diabetes or heart problems, or make certain lifestyle choices like smoking, you may be able to release more money compared to a standard application.

We can also offer Inheritance protection for your loved ones, ring-fencing a portion of your properties future value with a protected lifetime mortgage guaranteeing that a percentage of your home's future value will be left to your family, regardless of how much interest accrues. Remember that you will never owe more than your home is worth.


This is a lifetime mortgage/home reversion plan. To understand the features and risks, ask for a personalised illustration.

A Lifetime Mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.

The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.

Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead. This is a referral service.

Bridging Loans

If you require a short-term funding solution bridging loans could be the answer to enable a property purchase to proceed that may be impossible.


Some Bridging Finance is not regulated by the Financial Conduct Authority.

Situations which may require a bridging loan

To help you purchase a property before you have sold your existing home

If you want to purchase and “do up” a property before refinancing.

When speed is essential, for example an auction purchase

When a property cannot be purchased with a standard mortgage

Second Charge

Second charge mortgages are a secured loan, which means they use the borrower’s home as security.


If you are purchasing a property with the help of a shared equity loan, our advice will also cover the shared equity second charge. However, we do not advise on any other second charge mortgages. If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Situations which may be suitable for a Second Charge Mortgage

If you are struggling to get unsecured borrowing, such as a personal loan, perhaps because you are self-employed.

If your credit rating has gone down since taking out your first mortgage and re-mortgaging could mean you end up paying more interest on your entire mortgage. A second mortgage will have extra interest but just on the extra, new amount you want to borrow.

If your mortgage has a high early repayment charge, it might be cheaper for you to take out a second charge mortgage rather than to re-mortgage.

Bridging Loans

If you require a short-term funding solution bridging loans could be the answer to enable a property purchase to proceed that may be impossible.


Some Bridging Finance is not regulated by the Financial Conduct Authority.

Situations which may require a bridging loan

To help you purchase a property before you have sold your existing home.

If you want to purchase and “do up” a property before refinancing.

When speed is essential, for example an auction purchase.

When a property cannot be purchased with a standard mortgage

Second Charge Mortgages

Second charge mortgages are a secured loan, which means they use the borrower’s home as security.


If you are purchasing a property with the help of a shared equity loan, our advice will also cover the shared equity second charge. However, we do not advise on any other second charge mortgages. If you need a second charge mortgage we will refer you to a master broker for second charges, who will be able to advise you.

Situations which may be suitable for a Second Charge Mortgage

If you are struggling to get unsecured borrowing, such as a personal loan, perhaps because you are self-employed.

If your credit rating has gone down since taking out your first mortgage and re-mortgaging could mean you end up paying more interest on your entire mortgage. A second mortgage will have extra interest but just on the extra, new amount you want to borrow.

If your mortgage has a high early repayment charge, it might be cheaper for you to take out a second charge mortgage rather than to re-mortgage.

We offer free, no obligation advice, so just call us for a chat and let us use our expertise to help you achieve your aims.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

We offer initial fee free, no obligation advice, so just call us for a chat and let us use our expertise to help you achieve your aims.