Mortgages

Buy-to-Let Property: Should I consider an interest only mortgage? One question our mortgage advisers are often asked is should I chose an interest-only or a repayment mortgage for my buy-to-let property. Choosing the right mortgage can depend on a number factors: how many buy-to-let properties you own, your cash flow and the liquidity of your other assets, and your attitude towards managing debt and more complicated finances. What is the

Six Months Left on your Fixed-Rate Mortgage? It’s Time to Act. If you are in a fixed-rate mortgage and your current deal ends within the next six months, you can consider securing a new mortgage arrangement now. Many borrowers make the mistake of thinking they have to wait until their current mortgage deal comes to an end before they secure a new loan. This is not the case, and talking

Mortgage rates are rising: It could be time to act If you have a fixed rate mortgage which is coming to an end, or if you have rolled on to your lender’s standard variable interest rate, it might be worth considering securing a new mortgage arrangement now. In recent weeks banks and building societies have been withdrawing their cheapest mortgage deals and replacing them with products with higher interest rates.

Understanding Payslips: A guide to your Mortgage Application Whether you are applying for your first mortgage or buying a bigger home, knowing what you need in terms of payslips and paperwork for your mortgage application can be really helpful. One of the most important things a lender is looking for is proof that you earn enough money to be able to comfortably meet future mortgage repayments. They will also want

Saving to a buy your first home? Don’t miss the LISA 5th April deadline. Save or invest £4k now and receive a £1k bonus. If you are saving for a deposit to buy your first home, then consider whether opening a Lifetime ISA before the 5th April 2022 deadline may be appropriate for you. A Lifetime ISA (Individual Savings Account) is considered my many to be one of the best

Thinking about Moving House? Start with a Decision in Principle The housing market may be moving off the boil, but while prices are starting to level, we are not in a buyers’ market. Many estate agents want to see that your finances are in order before they will let you view a home. This means that if you are serious about buying a property, you often need a Decision in

Buying a bigger home: how to minimise the buying stress Whether you need more room because your family has grown, or if you need more space so you can work from home, taking a step up the housing ladder and buying a bigger property can feel like an overwhelming challenge. Getting your present home ready for sale, securing a new mortgage and selling and buying property can be a sequence

Borrowers Drift out of Mortgage Deals Straight into Higher Repayments The number of mortgage holders on the Standard Variable Rate (SVR) mortgage has increased to 46% during the UK lockdown period, up 2% from March according to credit reporting company Experian. This means more borrowers are drifting out of mortgage deals and onto the standard rate offered by their lender, potentially costing them more each month with increased interest rates

Getting a mortgage as a single person At a time when house prices are continuing to rise, buying a home as a single person can feel like a daunting process. Single mortgage applicants rely on just one salary and one credit profile in order to secure a loan, so getting through the mortgage underwriting process can be a bit trickier than with two incomes. However, the more you understand about

Near the end of your mortgage deal? Rising inflation may push up interest rates. What does this mean for you? The rising price of petrol, gas and food in the UK are real concerns and many people are preparing for a noticeable change in their bills this winter. The country measures and tracks the cost of living using the rate of inflation and it is a good indicator to see