Mortgage Help Page 2

Information on terms and structure of mortgages and how they are calculated

A Quick Guide to Getting a Mortgage!

It is worth first time buyers noting that at the present time 100% mortgages are virtually a thing of the past and besides starting off with no equity in the property leaves buyers in a very vulnerable financial position.

There are some fairly obvious benefits to having a sizeable deposit when starting the house buying process. The most obvious one is that it will make it much easier to get a good affordable deal. Read more

Life Insurance For Mortgages

A mortgage is the biggest financial commitment anyone will ever have and if the unthinkable ever happened, how would a family cope with a large debt and a reduced income.

Life insurance can be very low on people’s lists of priorities when they are in the process of buying a home. Read more

Equity Release Explained

Recent rises in household bills and an increase in inflation levels has caused a shortfall in pension provisions.

Many people who have retired and have a limited pension are now in a worse situation than in the past. Statistic’s show that their pension barely allows them to fulfil their basic needs, let alone have anything left for luxuries. Read more

How Credit Scores Work Within a Mortgage Application

Home buyers who are seeking a mortgage find out early on that their credit scoring plays an important part in the home buying process. A mortgage credit score is an automated technique used by lenders to decide whether or not to offer a mortgage.

Many responsible lenders want to know that their borrowers can comfortably afford to manage any new borrowing.

Mortgage Fee Explained

Many people just focus on the current mortgage interest rates when shopping around for a home loan, but whilst the interest rate is important, it is also important to consider the bigger picture in getting a mortgage, such as the fees. Therefore buyers should watch out for hidden charges behind headline rates, often the most attractive rates come with the biggest fees. Read more

Hints and Tips for Selling Your Property

Data released recently by the Land Registry showed that the average house price fell by 0.3% in August 2011.

Research has shown that the average property on currently on the market can now sit there for up to nine and a half weeks before even getting a viewing. Read more

Shared Equity Schemes

Shared equity is a type of low cost home ownership scheme run by the government to help people who can not afford to buy on the open market to purchase their own homes.

Shared equity in the UK has undergoing a mini revival and some changes have been made to the scheme. Previously this scheme was limited to specific groups such as housing association tenants and key workers such as nurses, teachers, fire-fighters and police officers. They are now open to any household with an income of less then £60,000 a year. Read more

Mortgage Exit Fees

When paying off or switching a mortgage borrowers are charged a fee, this is technically known as a mortgage exit administration fee (MEAF), supposedly to cover staff, legal and administration costs. Simply put any paperwork ranging from cancelling direct debits to transferring any paperwork to a new lender. Read more

Being a Buy to Let Landlord

The national landlord association announced that they welcome the recent increase in buy-to-let products, but also stressed that they need to be sustainable. Read more

Part Three Buy to Let – Finding a Property

To make the most of a buy-to-let investment you need to thoroughly understand the state of the housing market. Before choosing a property and arranging the finance to purchase it there are a number of factors to look into. Read more

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