Instead of moving out of your Council House, why not buy it?
Looking to make the leap from council tenant to homeowner? This article is your roadmap to purchasing your council property, guiding you towards a well-informed decision on this exciting path.Can I Buy My Council House?As a resident in a council house, you have the...
What is a 100% mortgage and can I get one?
After disappearing from the market following the 2008 financial crash, 100% mortgages are now back with lender Skipton offering a no-deposit product. We explain how they work for first-time buyers and if you can get one.When buying your first home, you’ll normally...
REMORTGAGE FAQ’S (POST-APPLICATION)
When will my first mortgage payment be taken?The lender will write to you 10-14 days after completion to confirm when your first payment will be taken and how much it will be. Your first payment tends to be slightly higher than the amount stated on your offer to cover...
5 WAYS TO CUT YOUR MORTGAGE PAYMENTS
Rising energy and food prices are becoming a growing concern for countless households right now, particularly as the tax burden looks set to increase too. So as the cost of living in the UK continues to head upwards, many of us will be looking at where we can make...
MORTGAGE SCHEME’S FOR FIRST TIME BUYERS
The property market is dominating the headlines in the start to 2023. Whether it be interest rates, property prices or buying schemes, it can be overwhelming to understand what options there are for first time buyers in 2023. To help you understand your options, we...
IS HOUSE PRICE GROWTH SLOWING DOWN
Nationwide Building Society has reported that the start of 2023 saw a further slowing in annual house price growth to 1.1%, from 2.8% in December. Moreover, January saw a further monthly price fall (-0.6%), which left prices 3.2% lower than their August peak (after...
STANDARD VARIABLE RATE: WHAT IS IT?
When you take out a mortgage you're faced with many options (fixed, tracker & discount rates), however one rate you will most likely find yourself on before the end of your term is the standard variable rate (SVR). Here is Response's overview on the SVR.What is the...
TIME TO REMORTGAGE?
If you took out a mortgage when buying your first home, did you know it’s likely it will ‘mature’ after a few years? This means that the initial deal you got on the mortgage will expire, and you could end up paying more unless you do something, such as remortgage ...
BUY-TO-LET: WHAT YOU NEED TO KNOW
With interest rates at record lows and house prices rising, you may be considering investing in a buy-to-let property. But before you take the plunge, it’s important to understand the costs, risks and rewards involved in becoming a landlord. Schemes such as the stamp...
SELLING A BUY-TO-LET PROPERTY
If you've decided it's time to cut down your buy-to-let portfolio, sell your current buy-to-let and invest in a new one, or quit property investment entirely, this guide explains the key things you'll need to consider before putting your rental property on the...
THINGS TO DO IN YOUR NEW BUILD IN THE FIRST YEAR
Congratulations, you have moved into your shiny new home! Moving house is often a stressful but an exciting time and moving into a new build is no exception. However, the real work of moving house often comes in the days, weeks & months after moving in. New builds...
A GLOSSARY OF MORTGAGE JARGON YOU NEED TO KNOW
The mortgage sector comes with a host of new words and phrases that buyers like you may not be familiar with. Many of these are legal terms that any savvy buyer should know to make sure that they understand what it is they are agreeing to. This isn’t a comprehensive...
WHAT IS AFFORDABLE HOUSING?
If you’re hoping to buy your first home, you might have come across the term ‘affordable housing’. In theory, ‘affordable housing’ refers to properties that are offered for sale or rent for below their market value - usually as part of a scheme backed by the...
YOUR MOVING HOME CHECKLIST
Moving house is an exciting event - a different house, a new area and, potentially, a different village, town or city really signals the start of a new chapter in your life. However, moving house is not without its difficulties. Making sure that you have everything in...
A GUIDE TO DIFFERENT TYPES OF MORTGAGES
Finding the right mortgage deal for you isn’t easy. There are a few different types of mortgage, each with their own advantages and drawbacks. To help you get informed about what’s on offer, this is our guide to the various types of mortgage available:Fixed-rate...
UNDERSTANDING THE HOME BUYING PROCESS
This video will help you understand the house buying process, ensuring that they know and are comfortable with all elements of the process and won’t be confused due to misunderstanding. Don’t worry we are happy to explain further and this video will be up for you to come back to if you ever need to.
WHY BOTHER WITH A MORTGAGE BROKER?
First and foremost, using a whole of market mortgage broker will take the leg work out of looking for a mortgage; they’ll search the market and compare the different deals that are available to you, looking at not only the interest rates on offer but other charges...
FEES AND COSTS INVOLVED IN A MORTGAGE
Costs before completion Lender Arrangement fee This can be called many things including product fee or arrangement fee. This can be a percentage of the loan or can be a flat fee. Typically, the flat fees will be £995 or £1,995. These will be included in the cost of...
SETTING UP AN SPV LIMITED COMPANY
Buy to let lenders who offer mortgages to limited companies usually require the limited company to be an SPV (Special Purpose Vehicle). In the mortgage world, a Special Purpose Vehicle limited company is a company which is set up just to hold property and do nothing...
PERSONAL OR LTD COMPANY OWNERSHIP OF BUY TO LET PROPERTY?
(This guide has been produced for information purposes only. As a mortgage broker, we're not able to offer tax advice). Income tax relief on buy to let mortgage interest has been restricted but is it more tax efficient and financially better all round to operate your...
WHAT SORT OF BUY TO LET PROPERTY SHOULD I BUY?
Finding the right property in the right location is extremely important when searching for a buy-to-let property. Before commencing your search you need to consider what kind of tenant you are looking for… for example: If you are looking at students then it is likely...
CONTRACTOR MORTGAGES
Customers often ask us “can I get a mortgage as a contractor?” and the answer is likely to vary from lender to lender, based on a wide range of variables. Along with the usual criteria – such as your age, credit rating, income and the property type (which we will cover in more detail later).
GETTING A MORTGAGE WITH STIPEND INCOME
A stipend (sometimes called a benevolence income) is a payment made on a regular basis by an employer or organisation, to cover basic costs of living whilst working/training, such as food, housing, petrol and phone costs. These can include those studying for
SHARED OWNERSHIP
The generational challenge of rising house prices Decades of rising house prices have stretched affordability to breaking point for thousands of prospective first-time buyers. The average house price stands at £228,000; eight times the average wage in the UK. In the...
BEWARE OF FRAUDS & SCAMS
Fraudsters are increasingly trying to trick home buyers, sellers and solicitors, into transferring their money into scam accounts. They hack into emails between buyers, solicitors and estate agents and create fake emails to try and persuade people to send money to...
MORTGAGE MYTH BUSTING
Myth 1. You don’t need to think about mortgages until you’ve found your dream property. Sure, you won’t need to actually apply for a mortgage until you’ve had an offer on a property accepted. But you certainly need to have scoped out mortgages before then, to check...