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Jargon Buster

E-mail: Mortgage Arrangers

Intelligent Finance mortgages, and mortgage illustrations from other lenders, are available here.
CLICK HERE and send your details for a mortgage quote to be e-mailed back to your computer for printing off - it's free

You can use the link above, or the logo on the right to get a quote and have the Intelligent Finance mortgage arranged for you.

*latest important news, see asterisk below

To get an Intelligent Finance mortgage illustration sent to you by email, click here and send your details (you can use the information box, at the bottom of the form, to specify your particular circumstances, as FSA registered mortgage intermediary will personally construct the "Key Facts Illustration."

Intelligent Finance have a range of different mortgages;

The interest rate that Intelligent Finance will offer you depends to large extent on the size of your deposit - the bigger the better.

*One very important point that has not been well publicised is that Intelligent Finance have a clause on their mortgage offer as follows:

 "You must repay, on or before the date you enter into the (Intelligent Finance) mortgage, all mortgages on any property you are selling. The three exceptions to this requirement are:

• where you are unconditionally bound to sell the other property and its proceeds will be enough to discharge your mortgages on any property being sold (in which case, you must be bound to complete the sale within three months of entering into our mortgage);

• where you have told us that the mortgage is not to be repaid and we have agreed to this; or

• where the property is to be mortgaged in Scotland (in which case, any existing mortgage must be repaid within three months of our mortgage).

Having checked with Intelligent Finance what the first exception actually means, they say that as long as the sale on the existing property is being actively pursued (and this could obviously be checked by your solicitor, with a phone call to your estate agent, or simply asking you to confirm it verbally, especially if you are selling privately), then the solicitor can exchange contracts and complete your new purchase (or additional purchase, in this case) without you having to redeem your existing mortgage.

Having checked with Intelligent Finance what would happen if the existing mortgage is not redeemed within three months, they say that they "monitor the situation" (which means that they keep an eye on the Intelligent Finance mortgage account, to see if it starts to go into arrears).

This exception to the requirement to redeem existing mortgages before completing on a new one, is I believe, unique and is probably the cheapest "bridging finance" you will be able to find.

So if you are having trouble selling within the time frame needed, and you need a lender that will allow you to "buy before selling" (and have two houses with two mortgages for a period of time) the Intelligent Finance mortgage could be the solution.

Want an Intelligent Finance mortgage Illustration ? Click Here

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

E-mail: Mortgage Arrangers