What type of Mortgage should I get?

Apart from the filthy rich people who can make huge investments in house, car, or start-up business in cash, everyone needs a mortgage as financial aid. Getting your own house is something that all of us dream of, isn’t it? However, finding the best property in the market in terms of price, location, space and communication is just half of the battle. The rest can be insured with the perfect mortgage where you can get money instantly and repay them back later.


The market scenario brings up thousands of companies with several types of mortgage plannings. You can go with a reliable one like 1st Choice Mortgages, however, for your knowledge and ease of understanding, it is better to gather a little information about the entire thing. Consider this blog as a comprehensive study of mortgage planning and the best ways of choosing them.


First thing first. You have to understand that all mortgage plans are not the same. Some prefer to abide by the stringent guidelines and some give you the flexibility to some extent. Also, the rules and regulations partially depend on your country, area and jurisdiction. You must understand and determine what type of mortgage you are looking for. We can help you to make your mind.


Bridging Loans

This is a short term loan for the companies or individuals where permanent financing is lacked. The existing obligation can also be the reason behind the stable financing where a company or an individual may need a bridging loan. It provides helps the borrowers to meet the existing obligations with decent cash flow. This is an instant loan, however, the borrower has to high interest because of the immediate effect.


Asset finance

This is the perfect choice for those people who want to get instant cash in exchange for their pre-owned assets like aircraft, marine vehicle, machinery, yachts, car etc. a huge capital can be ensured with this loan where the asset will be the lenders’ responsibility until you pay off the borrowed amount completely. You have to note that this is not a deal against selling an asset. The value of your asset, the condition, manufacturer and many other things decide the amount of loan you are eligible to get from that one. With a moderate interest charge and a chosen tenure, you are supposed to pay back the loan.  


Personal assets

Emergencies don’t come notified. In case of an emergency, an individual is capable of applying for the person asset loan. The person items which fall under the category of applying for personal asset loan with are luxury watches, gold jewelry, classic cars, diamonds and other precious gems and metals, antiques and best quality wine even. Here also, the quality of the product you own will decide the value you can borrow. Based on your convenience, you can go for the monthly installment to repay the loan.

Retail & Leisure

In case you need a good amount of cash for starting another business or running your other urgent expenses, there is the provision to get loans against your business belonging including hotels, pubs, individual units, shopping stores and many more. Here, the location of the store or the hotels or pub and the per day sell in it, the profit margin you own etc are taken into consideration to allow you with a substantial amount of loan. Post to the repayment, you will be able to get back your business belongings.

Semi Commercial

Semi Commercial building investment incorporates residential buildings, shops and flats. Here the investor look at the greater picture keeping the high price of land into consideration and based on the probability of the same, the loan amount is discharged for the borrower. With an interest rate and installment and repayment option is opened here.

Investment property

To invest in a profitable property, you can get a loan and that is called investment property loan. Here the borrowers want a loan to invest in an office building, shops or commercial area and expect to get a profit from the rent or the resale at a higher price. Based on your current financial status and the prospect of the property that you want to invest in the amount of the loan will be decided. Your eligibility for the loan will be set with it.  

Business & Cash flow Finance

If you are on the verge of starting a new business with unique ideas and a huge prospect, you are eligible to get the business loan or cash flow finance for the initial developments. Here the business area, the target audience and the opportunity of yearly turnover are estimated before sanctioning the loan and the repayment comes with the installment of interest and principal amount.


There are areas like medical practice, schools & nurseries, care holmes, accountancy practices and many more that require an initial start-up to get established in the field as self-employed. Borrowers with the zeal of making something significant on their own can apply for the loan. Looking at the prospects of the business, the loan amount is sanctioned. The borrowers may have to make a minimal down payment following which the installment and tenure are decided for repayment.

Apart from the above-mentioned areas, there are other areas as well which are eligible for mortgage loans including:

  • Agricultural (farmland, farm buildings)
  • Development Finance
  • Commercial
  • Invoice Factoring and Discounting
  • Industrial (factories, warehouses, data centres etc.

Don’t forget to consult a reputable firm that you trust with financial aid for your endeavors. The repayment policy must be thoroughly checked before signing the agreement. You can choose 1st Choice Mortgages like the millions other as your reliable partner and go ahead with your venture. Wish you all the luck!

Still Got Questions? Talk To Us

Ready to be confident you have the absolute best mortgage? Let us know the best way to contact you below and one of our top mortgage brokers will be touch to get you sorted. Even if you already have an offer or a mortgage in place, we will try to beat it.