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your trusted partner for

RESIDENTIAL

MORTGAGES

mortgage solutions

Tailored for You

Here at RH Mortgage & Financial Solutions we’re committed to turning your dream of homeowner-ship into a reality.

Navigating the maze of mortgage options can be overwhelming, but our expert team is here to simplify the process for you.

We offer a range of domestic mortgage solutions designed to meet your unique needs, whether you are a first-time buyer, upgrading to a larger home, or refinancing your current mortgage. We understand that every homebuyer’s journey is different, which is why we provide personalised guidance and support at every step.

From pre-approval to closing, we partner with you, offering expert advice and transparent communication throughout the entire process. Explore our mortgage options today and take the first step towards your new home. Trust RH Mortgage & Financial Solutions to be your reliable guide in the home loan landscape.

key features of

Standard Mortgages

Residential mortgages are loans taken out to purchase or refinance a home or other residential property. They are a common way for individuals to buy homes without having to pay the full purchase price upfront. Here’s a breakdown of key aspects:

Types of Residential Mortgages:

    • Fixed-Rate Mortgages: The interest rate remains constant throughout the term of the loan. This offers predictable monthly payments and stability against interest rate fluctuations.
    • Variable-Rate Mortgages: The interest rate can change over time based on market conditions or a specific index. This can lead to lower initial rates but comes with the risk of payments increasing if rates rise.
    • Interest-Only Mortgages: For a set period, you only pay the interest on the loan, not the principal. This results in lower monthly payments initially but higher payments later when you start repaying the principal.
    • Discount Mortgages: These offer a discount off the lender’s standard variable rate for a set period, which can lower monthly payments initially but may increase after the discount period ends.

    Mortgage Terms:

    • The term of a mortgage is the length of time you have to repay the loan, commonly 15, 20, or 30 years. Longer terms typically mean lower monthly payments but more interest paid over the life of the loan.

    Down Payment/ Deposit:

    • A down payment is an upfront payment made towards the purchase price of the property. It is usually a percentage of the property’s value. Larger down payments can reduce the size of the mortgage and may lead to better interest rates.

Loan-to-Value Ratio (LTV):

      • This is the ratio of the mortgage amount to the property’s value. A higher LTV ratio means a smaller down payment and a larger loan, which can affect the interest rate and mortgage terms.

Repayment Options:

      • Principal and Interest: Monthly payments cover both the interest and a portion of the loan principal.
      • Interest-Only: Payments cover only the interest for a specified period, with principal payments starting afterward.

Application Process:

      • To obtain a residential mortgage, you typically need to provide information on your income, credit history, employment status, and details about the property you’re buying. Lenders use this information to assess your ability to repay the loan.

Secured Loan:

      • Residential mortgages are secured loans, meaning the property itself serves as collateral. If you fail to make payments, the lender can take legal action to repossess the property.

Costs and Fees:

    • Beyond the loan principal and interest, borrowers may face additional costs, such as application fees, appraisal fees, closing costs, and ongoing costs like property taxes and insurance.

Residential mortgages are a crucial tool for many people looking to buy a home, providing a way to spread the cost of property ownership over many years.

"Absolutely fantastic service sorting out my new mortgage explained everything so well and go above and beyond to help I would 100% recommend to everyone! Thank you again for all your help"

Lisa Butler - Google Review | March 2025