Existing Customers

Thank you for choosing Interbridge Mortgages. Now you have your loan with us, you may have some questions about how your loan will be managed or what happens next. We’re here to help.

Manage your account
Looking for useful tips on keeping your account up to date?
Support
If you’re worried about your finances or repayments, we’re here to help
FAQs
Take a look at our most frequently asked questions and answers

Jargon Buster

We have put together a list of the most well used terms in relation to your second charge mortgage with Interbridge Mortgages.

You can refer back to these at any time and if you have any questions, please feel free to contact your broker or a member of our team.

The amount of money loaned to you in the second charge mortgage, and is the amount shown in your second charge offer document.

An amount charged by your broker or introducer for the mortgage advice given to you during the application process.

We will look at your income and outgoings to determine whether you can afford to repay your mortgage. Lenders must complete these checks by law.

This is the total yearly cost of the second charge mortgage and considers all the charges included in the mortgage. APRC can be used to compare different products easily.

The declaration form is required to be signed by you to confirm all the details used to process your application are correct.

This document is used once you have your second charge mortgage with us. It is used if you remortgage and change your main mortgage provider or if you obtain a further advance from your main mortgage provider. It will allow the main mortgage provider to remain as the first charge holder and for us to maintain our ranking as the second charge holder.

The company that Interbridge Mortgages use to capture electronic signatures.

This is when both the interest charged and the amount borrowed is paid off each month as part of the repayment of the loan.

This is the part of the mortgage not used for consolidation, it is often used for home improvements or other purchases and will be paid directly to you as the borrower.

This is the part of the mortgage used to pay off your creditors and will be paid to them directly from us.

This is a document that any adults over the age of 17 who reside at the property but are not party to the mortgage may be asked to sign before we complete your second charge mortgage.

If a County Court rules against you for defaulting on a debt, that ruling is listed on your credit record. Having such a judgement listed against you may mean you are turned down for future borrowing or be expected to pay a higher rate than other customers. The Scottish equivalent of an English CCJ is a Decree.

A credit reference agency will collate and retain financial information from many different aspects of your life. When assessing your application, a lender will use a Credit Reference Agency and take your credit records into account.

This is a fee you might have to pay if you want to end your second charge mortgage deal before the end date agreed. Not all mortgage products have an ERC, and those that do usually reduce the closer you get to the end of the agreement.

This is an industry standardised document that provides you with full details of the proposed second charge mortgage prior to you agreeing to proceed. This will include details of monthly repayments you will need to know, together with the likely set up costs. The information provided in an ESIS enables easy comparison across lenders.

This is the value of your property, less the outstanding mortgage balance(s) secured against it. If the value of your home has increased since purchase, and/or you reduce your mortgage, then your equity will increase.

This is the amount you spend. We will usually ask for your monthly expenditure in order to see if the proposed monthly repayments of the mortgage you wish to take out are affordable for you.

A fixed rate mortgage has a set interest rate over an agreed period of time, which is typically 2 years, 3 years, 5 years, or occasionally even longer. At the end of the fixed rate term, the mortgage will normally revert to a lender’s standard variable rate.

Your income before tax and other deductions.

The total loan amount borrowed in your second charge mortgage including any fees or charges that are initially added to the loan.

The amount charged to borrow the mortgage amount.

This is an administration charge made by lenders for arranging credit, including a second charge mortgage.

This is the total amount of borrowing in relation to the property value. Sometimes shortened to LTV.

This is the total amount you will pay Interbridge Mortgages every month.

A firm/individual with permission for advising on regulated mortgage contracts. Your broker is a mortgage adviser.

This is a legal document, used in England and Wales, outlining the mortgage terms on the property (where the Property is located in Scotland this is the Standard Security.). The mortgage deed allows Interbridge Mortgages to add an additional charge against your property when you take a second charge mortgage.

This is the amount of money Interbridge Mortgages is willing to lend you together with any conditions, such as the length of time you need to repay it in, and the interest rate charged.

This is a legal document, used in Scotland, outlining the mortgage terms on the property. The Standard Security allows Interbridge Mortgages to add an additional charge against your property when you take a second charge mortgage.

The period of time stated in the Mortgage Offer for the repayment of the money borrowed or any revised term agreed between you and Interbridge Mortgages.

A mortgage repayment greater than the normal monthly repayment set up with Interbridge Mortgages. It is usual that a percentage of overpayments are permitted each year before an early repayment fee is charged.

The date each month upon which the Monthly Payment is due.

A period of time, currently 7 days, following the release of your mortgage offer, during which you are able to think about the agreements terms and conditions, and make sure that the mortgage being offered is right for you.

This document details costs you will incur during your mortgage term, as well as those you could be liable for.

This is an external validation of the property value. The survey will be used to assess whether your property is suitable security for your lender and whether there is sufficient equity to support lending.

A variable rate mortgage has a variable interest rate, which may go up or down any number of times during the term of the mortgage.

Manage your account

Useful tips on keeping your account up to date

Interbridge Mortgages is focussed on helping you manage your finances and giving you control.

At Interbridge Mortgages, our experienced team is here to help you whatever your question or circumstances. You can request an up-to-date balance, speak to someone about your statements or make additional payments.

Remember – making additional payments can reduce your balance quicker and will save you money in the long term by reducing the amount of interest that you will pay. Your payments won’t reduce but the length of your mortgage will.

Here’s how you can get in contact;

Our Customer Service team are available Monday – Friday, 9am -5pm

Our contact telephone number is : 029 2254 0482

Our email address: customerservice@interbridgemortgages.com
(We normally respond to email requests within 48 hours)

Support

Worried about your repayments?

If you’ve missed a payment – or think that you might – we can help you.

We know it can be hard to talk about your finances, but we’re always here to support you. If something has changed, or you are going through a tough time for any reason please call us on 029 2254 0482 or email us at customersupport@interbridgemortgages.com.

We’ll work with you and discuss all available options, based on your individual situation. Together, we’ll find a solution that you can feel confident in – and we’ll make sure that you have all the information you need to put your plans into action.

The sooner you get in touch with us, the more options you will have.

Talking to us won’t impact your credit rating or appear on your credit report.

Whilst our team have extensive training and experience, if you want to speak to an expert that isn’t us, you can contact a specialist debt advisor or charity for different types of support including:

  • help with debt plans and insolvency
  • general debt advice
  • money management
  • financial wellbeing

If you would like to speak to someone, the following information might be useful:

Step Change Debt Charity  

For debt advice throughout the UK phone 0800 138 1111 or visit www.stepchange.org  

Citizens Advice  

For advice and information on debt and other topics, visit your local Citizens Advice or go to www.citizensadvice.org.uk  

Money Helper  

For free, unbiased and easy-to-access money tools, information and advice, visit www.moneyhelper.org.uk, or phone 0800 138 7777 to speak to a Money Adviser. 

Alternatively contact us on 029 2254 0482 to see how we can help.

Frequently Asked Questions

Here you will find the answer to the most frequently asked questions we receive.

If your question isn’t here, or you need an answer specific to your circumstances we’d be happy to help, just contact us and a member of the Interbridge Mortgages team will ensure that you get the information or solution you need!

Repayments on Second Charge Mortgages are made monthly.

You will have the option of choosing your repayment date before the mortgage is completed. This can be any day between 1st & 26th of the month.

If you’re not worried about setting a specific date, we’ll base repayments on the day your mortgage begins. For example, if you get your money on the 10th, the first payment will be due on the 10th of the following month, and so on. If your loan is paid out between 27th – 31st of the month, your repayment date will be 1stof the month.

Once you’ve made your first payment, you can change the payment date if you need to between 1st and 26th of the month. Just make sure that you give us 10 working days’ notice to make the change.

APRC stands for annual percentage rate of charge. It shows you, as a percentage, the annual cost of a mortgage over its lifetime. It brings together all charges for your second charge mortgage (such as fees and variable interest rates) calculated for the full term.

Because some mortgages can offer a lower rate of interest for the first few years, the way the APRC is calculated reflects this. Whilst the more familiar APR includes just one rate, and fees, APRC is designed to help show the impact that different rates and any charges could have over the lifetime of the mortgage.

APRC helps you compare the overall mortgage costs from different providers against the same parameters. Some mortgages may have a low introductory interest rate, but by the time you add in all the charges and factor in higher variable rates, it could work out more expensive – APRC helps borrowers see that.

This depends upon the product chosen. Interbridge Mortgages offer fixed rate mortgages, as well as variable. Details of the interest rate for your second charge mortgage can be found within your documentation, or if you haven’t yet completed the mortgage, within your offer letter.

Yes – providing you do so before the first repayment is due you can cancel your second charge mortgage by repaying the amount borrowed, plus any interest that has been incurred. Should your first repayment have been made, this will be treated as an early settlement and you may be charged an early repayment charge, depending upon the product selected.

On many of our products, there are no early repayment charges. On others, you may be charged an early repayment charge if you pay your mortgage off before your deal ends. For example, with a fixed rate product, a charge may be payable if the loan is repaid within the fixed rate period.

For information on any early repayment charges that apply to your mortgage, please see your mortgage documents, or alternatively contact us and we’d be happy to help.

First of all, don’t panic.

We know life doesn’t always go smoothly. We’ll do everything we can to help you, whatever the situation. If you know in advance that you might struggle, or if you have an issue that means you may or have missed a payment, the sooner you talk to us, the sooner we can help.

If you don’t get in touch and end up falling behind on repayments, it could cost you more in the long run so please get in touch on 029 2254 0482 between 9am – 5pm Monday to Friday, where our trained customer service advisers are on hand to talk you through the options available.

Complaints

We want to put things right

Sometimes we get things wrong, and if we do, we’d really like to know so that we can put things right with you and make improvements for the future.

You can make a complaint by phone, post or by email. The information you provide will only be used to resolve your complaint.

Read more by downloading our guide to handling your complaint leaflet.

To raise a complaint:

By phone: 029 2254 0482 Monday – Friday 9am -5pm
By email: complaints@interbridgemortgages.com
By letter – post to Complaints, Interbridge Mortgages, Coal House, Dumfries Place, Cardiff, CF10 3RJ

What happens next?

We’ll aim to resolve your complaint within 3 business days, following the day it is received. If this is not possible, we’ll keep you informed until your complaint is resolved.

Once there’s a decision about your complaint, we’ll be in touch to let you know. This can take up to 8 weeks but we’ll aim to fix things before then.

If you’re still not happy, or if we can’t sort out your complaint within 8 weeks (15 days for payment-related complaints) you can ask the Financial Ombudsman Service to investigate. You can find their details:

Online: financial-ombudsman.org.uk
By email: complaint.info@financial-ombudsman.org.uk