What Is The Process Of Buying A House?
The home-buying process begins with the evaluation of your financial situation, and ends when you exchange contracts – thereby taking legal ownership of the property regardless of whether or not the mortgage is paid. The steps in between involve financial accounting, negotiation, and market research – with many possible roadblocks that can occur and hinder […]
What Are Repayment Mortgages?
A repayment mortgage, also known as a capital repayment mortgage, is a type of mortgage where you’re paying off both the capital and the interest of your mortgage in the same monthly payment. This is typically the most straightforward and popular method available to pay off a whole loan. One of the main reasons this […]
What Is The Longest Mortgage Term In The UK?
Mortgages typically are an investment that spans decades, and during the mortgage term, the borrower is obligated to make regular payments to cover both the principal amount (loan amount) and the interest applied against it. However, in today’s economy, many lenders have begun to offer extended mortgage terms to cater to the market. But why […]
What Happens To A Joint Mortgage After A Breakup?
A declined mortgage application might feel like the end of your homeowning dreams, but don’t give up hope. Many people who get rejected by high street lenders go on to achieve highly competitive mortgage deals in the near future. It’s what you do next that counts.
Guide To Gifted Deposits: What Are They And The Pros And Cons
A gifted deposit is a sum of money that is typically given by close family members towards a property down payment. This is not a loan, meaning no money has to be repaid, but rather an accepted and highly beneficial way to get on the property ladder for those who see a mortgage deposit as […]
Transfer Mortgage To Another Person: What Is It & How To Get It Done
Changes in your life’s affairs are unavoidable, and for many people, they include altering the ownership status of their homes. Whether it’s a serious relationship, a divorce, reaching that age where you need to plan for your family’s future, or the death of a loved one, various circumstances will inevitably get you to consider a […]
What Is The Lowest LTV Mortgage Available?
The term “loan-to-value” or “LTV” is a way to assess the lending risk for the lenders or any financial institution. A high LTV value generally means that the loan is considered riskier, so a mortgage approved with a high LTV will carry much higher interest rates due to the perceived level of risk on behalf […]
What Do Mortgage Lenders Look For When It Comes To Eligibility?
The process of buying a home carries a lot of mixed feelings. On one hand, you’re excited about owning your dream home and turning that “For Sale” sign into a welcome mat. On the other hand, you might be worried about the process of securing a mortgage, especially if it’s your first time going through […]
Non-Standard Construction Mortgage
The traditional image of homeownership and mortgages is based on a typical scene – a house with brick walls, tiled roofs, and strong, familiar foundations. But not all dream properties look or are made in the same standard way. For those who want something different from the ground up, funding may not come from the […]
What Happens When My Fixed-Rate Mortgage Ends?
A fixed-rate mortgage offers peace of mind during the introductory phase of the contract. Your monthly payments are static, making all financial planning far easier. That being said, a fixed-rate mortgage ends after several years, depending on how long the fixed term period was set – which can usually be anything from 2 up to […]