Buy-to-let mortgages – what you need to know
The UK’s property market is notoriously resilient. Crashes are very few and far between. There are occasional low periods. In practice, however, all these mean is that house-price growth slows and properties can take a bit longer to sell. Demand for rental property is generally strong. With that in mind, here is a quick guide […]
Mortgage Affordability Becomes A Growing Concern
All things considered, it’s hardly a surprise that mortgage affordability is becoming a growing concern. Some of the factors behind it are largely outside the control of private individuals. Even so, there are still plenty of steps individuals can take to ensure that they get and manage the mortgage they need. Here are some points […]
Help To Buy 2.0
During the (virtual) Conservative party conference, Boris Johnson announced his intention to create “Generation Buy”. It looks as though he may introduce two separate schemes to make this happen. The details of one of these schemes are, currently, very hazy. The details of Help to Buy 2.0 are, however, much clearer. The “Generation Buy” scheme […]
Difficult to place mortgages
If you’re the proverbial round peg in a square hole you may find that mainstream lenders and mainstream products just don’t work for you. Either lenders won’t touch you because of your circumstances or you don’t think any product you could get would be right for your situation. If this sounds familiar, then it’s probably […]
Key worker mortgages
Occasionally, mainstream lenders may offer special products for key workers. It is, however, more likely that they will offer key workers the same deals as everyone else, but be prepared to show some level of flexibility with regards to their personal circumstances. For example, lenders may be wary of potential borrowers on zero-hours contracts but […]
Understanding the Mortgage Market Review
After the 2008 financial crisis, the Financial Conduct Authority (FCA) undertook a review of the mortgage market. This resulted in the introduction of affordability criteria, which came into effect in 2014. Since then, mortgage lenders have been obliged to stop using broad-based criteria such as multiples of income to decide whether or not a potential […]
Equity Release
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ custom_padding=”0px|||||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content”] In principle, there are two types of equity release – home-reversion schemes and lifetime mortgages. Home-reversion schemes are when you sell all or part […]
Second Charge Loans
Second charge loans are loans where the lender is “second in line” behind another lender if the borrower defaults. They tend to be issued on a short-term basis. The nature of second charge loans means that they tend to be more expensive than standard mortgages. Sometimes, however, it can be worth paying for convenience. For […]
Offset Mortgages
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text admin_label=”Text” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” use_border_color=”off” border_color=”#ffffff” border_style=”solid” global_colors_info=”{}” theme_builder_area=”post_content”] Offset mortgages are a twist on standard repayment mortgages. They combine a mortgage and a savings account. The money you keep in your savings account is […]
What you need to know about self-build mortgages
If you’re thinking of building your own home, financing the project may be high on your list of priorities. Self-build mortgages are different from normal mortgages. They release funds at stages during the building work, rather than in one lump sum when you complete a property purchase. Some lenders also extend a loan to help […]
