Simmonds Mortgages

Mortgage Brokers covering Berkshire and beyond

Call: 01344 225 149 or 07979 690 056

40 Year Mortgages Boon or Burden?

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40 Year Mortgages - Boom or Burden?

Longer-term mortgages mean lower monthly repayments, making them more affordable. However, the downside is that by the end of the term, the amount of interest paid will be far greater because the loan is repaid over a longer period. You will also find that you build equity, the amount of the property that you own, at a much slower rate if you choose a 40-year-loan.

If you take a longer loan, it makes sense to check that you can make overpayments. Being able to do this without penalties will enable you to pay more of the loan off if you receive a windfall or a pay rise.

If your circumstances change over the years, it could make sense to take out a new, shorter loan so that you can be mortgage-free sooner.

 

We can help you!

If you would like more information or help with your mortgage please call us on 01344 225 149 or 07979 690 056. Alternatively please send us an email at info@simmondsmortgage.co.uk

Your home may be repossessed if you do not keep up repayments on your mortgage

 

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Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.

What our Customers Say...

Have been with this company for the last few years, Andrew is very professional, perfect at his job., Yet, very accessible and intimate when you call. Feels like a brother. Do I need to say more?!

 

B. Elsammani

Daniel Temperley made it such a simple and smooth process for my mortgage application. Also being a first time buyer he advised me about the whole process from start to finish. Daniel works very hard and he delivered! I got my mortgage offer! Thank you very much Daniel. I definitely recommend Simmonds Mortgage Services !

 

J. Dzikiti

A great service provided by Andrew and his team. Would highly recommend to anyone requiring a mortgage.

 

T. Madurasinghe

After being declined by Santander, due to unusual circumstances, Daniel was able to find a good mortgage for me and I received an offer in less than a month! Very helpful and doesn't do the 'complicated' speak! :-)

 

J. Marr

Andrew's arranged my mortgages for many years. He's very knowledgeable, provides best market options and is very straight forward to deal with. He manages the whole process proactively and gives clear guidance throughout. Thanks Andrew

 

Lou

Andrew provided an excellent service. He worked very hard all the way, and was always very easy to reach (even when on holiday!). Cannot thank him enough. Would definitely recommend.Thanks again

 

Z. Naqash

Andrew was absolutely brilliant throughout all of the process. He made it seem simple and spared me all complexities that people tell you about getting a mortgage. I couldn't be happier with the service he provided and would recommend him to friends in a heartbeat!

 

D. Gough

Andrew was easy to deal with from start to finish for our remortgage. We have some unusual circumstances and other brokers we had tried had only got so far before moving onto "easier" business. Andrew kept on going until we got the outcome we wanted. A new cheaper rate! I wouldn't hesitate to recommend him.

 

C. Domanska-Dredge

Andrew gave comprehensive sound equity release advice and I would not hesitate to use him again in such matters.

 

A. York

Having been recommended to us, Andrew sorted us out with our first mortgage five years ago, and we didn't hesitate to use his services again when it came round to re-mortgaging. Andrew advised us on the various options available, all of which resulted in significantly reduced monthly mortgage payments, and talked us through the benefits of staying with our existing lender versus moving to a new lender - useful advice seeing it was my first time remortgaging and I had little time to research offers myself. I cannot recommend Simmonds Mortgage Services enough.

 

J. Marney

Excellent Mortgage Advisor, Highly Recommended.

 

P. Browett

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Simmonds Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Registered Office: Simmonds Mortgage Services Ltd, Lexham House, Forest Road, Binfield, Berkshire, RG42 4HP. Registered Company Number: 1152 8784 Registered in England & Wales.

There may be a fee for arranging a Mortgage and the precise amount will depend on your circumstances. This will typically be £399.00 paid once the mortgage offer has been confirmed.

There may be a fee for arranging an Equity Release or Lifetime Mortgage and the precise amount will depend on your circumstances. This will typically be £799.00 and is due on completion of the mortgage.

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