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Mortgages for Unencumbered Property

Best Mortgage Rates

I Want to Buy I Want to Remortgage

Mortgages for Unencumbered Property

    • 4.07% Initial
    • 5 year fixed
    • 6.6% APRC
    • Cashback Max £250
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    • 4.10% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.14% Initial
    • 5 year fixed
    • 6.3% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.17% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.17% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.19% Initial
    • 2 year fixed
    • 8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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    • 4.20% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
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Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Unencumbered property

Raising a mortgage could be a cost-effective way to raise capital if you own a property outright without a mortgage or other debt attached. If you meet lenders' other criteria, you can usually get a mortgage on this kind of unencumbered property.

 Unencumbered property mortgage lending criteria

Unencumber property mortgages have the same lending criteria as any other type of mortgage, although the lender will want to know how you intend to use the money.

Unencumbered properties are commonly mortgaged for the following reasons:

  • In order to release equity from your home.

  • It allows you to buy a new property without having to sell your current one.

  • An investment property purchased for buy-to-let purposes

  • Buying a holiday home.

  • As a means of financing other projects, such as renovations or extensions.

  • Helping children with university expenses or with a deposit for a home.

 

Mortgage restrictions on unencumbered properties

Lenders may offer standard residential home mover mortgages when you take out a mortgage on an unencumbered property. You may, however, not be eligible for special offers that reduce or waive legal fees if you own unencumbered property.

An independent mortgage broker with whole of market access can help you find the best deals for unencumbered property and help you decide which mortgage is right for you. So you can find the money you need quickly, efficiently, and with the least amount of stress.

To investigate your finance options call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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