HOW MUCH CAN I BORROW?
Ocean are able to offer mortgages from £10,000 up to £750,000. The actual amount available to you will depend upon your circumstances, but we can often lend up to 90% of the current value of your home. View the Mortgage Calculator to see payments.
OVER WHAT PERIOD CAN I TAKE MY NEW MORTGAGE OVER?
Most of our plans are available from 10 years to 30 year terms and we will advise you of the most suitable remortgage for your circumstances. We are also able to offer terms from just 5 years for smaller mortgage amounts (usually when you borrow less than £25,000 in total). View the Mortgage Calculator to see payments.
AM I UNDER ANY OBLIGATION BY COMPLETING THE ENQUIRY FORM?
No, you are under no-obligation whatsoever by asking us to find a mortgage to suit your requirements. We will recommend a mortgage product to you, it is up to you to decide if you are happy to proceed with it or not. Go to the Enquiry Form.
CAN YOU OFFER A SCHEME WHEREBY MY REPAYMENTS CAN BE MET IN THE EVENT OF INVOLUNTARY UNEMPLOYMENT, BEING ILL OR INVOLVED IN AN ACCIDENT?
Ocean may offer insurance cover to protect you in the event of the above instances.
This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at
www.moneyadviceservice.org.uk
The monthly cost of the Mortgage Payment Protection Insurance is £7.62 per £100 of monthly benefit.
CAN YOU HELP ME BUY MY COUNCIL HOUSE?
This is commonly known as your "right to buy". For no obligation help and advice with this process please complete our short enquiry form or call us on 088 916 9186 for free information
CAN I BORROW 'MORE' THAN IS REQUIRED TO PAY OFF MY CURRENT MORTGAGE?
When you remortgage you may want to borrow more than the amount required to pay off your current lender. This is very common and at Ocean we aim to be as flexible as possible. You can use the extra money for virtually any purpose including, Consolidation of Current Credit, carry out some Home Improvements, buy a Newer Car or even take an overdue Special Holiday.
WILL YOU CHARGE ME A FEE FOR ARRANGING MY MORTGAGE?
There is a fee payable, but only upon satisfactory completion of your mortgage. Ocean Mortgages average fee is 1.9% of the amount you borrow. If your mortgage does not complete then you will not have to pay any fees at all. Furthermore you will not be expected to pay any up front fees for our services and we will not charge you any legal or valuation fees.
DO I HAVE TO PAY FOR A VALUATION ON MY HOUSE, OR LEGAL FEES TO THE SOLICITORS?
No, Ocean Mortgages will meet all of these and any other associated costs for you on your remortgage..
WHAT IF I WANT TO PAY OFF MY NEW MORTGAGE EARLIER THAN EXPECTED?
You can, of course, pay off your mortgage at any time. Some early repayment charges may apply depending on the lender you are with and when you redeem the account. Full details of any such charges will be detailed to you in writing before your new mortgage completes.
HOW LONG WILL IT TAKE FOR MY MORTGAGE TO COMPLETE?
The whole process takes approximately 4 weeks from receipt of your enquiry form to completion. This is dependant upon a number of factors, including how quickly you supply us with any documentation required. If you need to speak to your Ocean Mortgage Adviser during the process they can be reached on 0870 608 5000. For contact times, please consult the 'Contact Details'.
Please bear in mind that as we provide mortgage advice we will need to establish which product is most suitable for your needs and individual circumstances. We will do this by completing a 'FACT FIND' with you over the telephone. This will take between 30 and 45 minutes. We will call you AFTER receiving your enquiry form, to carry this out at a convenient time for you. You will not be expected to pay for this call.
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