Category: Mortgage Tips
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Deposit Unlock Scheme Explained
Deposit Unlock is here! The new scheme was launched in response to the ending of Help to Buy in England and it aims to support more buyers get onto or move up the housing ladder by making homeownership more affordable. The scheme has been created through the Home Builders Federation In short, it means that…
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Why a 95% Mortgage is a Terrible Idea
The government have recently announced additional support for those looking to purchase a home with a 95% mortgage. We reveal why this could be a terrible idea. Some points to note: Unless we state differently we are referring to repayment mortgages for this post. How a 95% Mortgage Works The idea of a 95% mortgage…
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Are Interest Only Mortgages A Good Idea?
Interest only mortgages sound like a good deal when you first come across them. The rates can be cheaper than a regular mortgage. Less money on the mortgage means more money in your pocket! But this isn’t the complete story. Interest only mortgages are only right for special situations. In this article we’ll discuss more…
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7 Tips For A Single Person To Get A Mortgage – # 6 Will Shock You!
If you’re single and want to get a mortgage as a first time buyer, then this blog post is for you. It can be a little scary buying your first home your own. But with the right information and advice, getting a mortgage can be within reach! In this post we’ll give you the tips…
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Should I Get A Mortgage on A Flat Above A Shop?
Some people really like living right in middle of the city centre. Being close to all the amenities, shops and transport networks is essential for their life. At the same time, many streets that are filled with shops also have space above them that have been turned into flats. Getting a mortgage for a flat…
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Discount Market Sale Properties – The Full Guide
(Note – this guide is different to the new First Homes policy introduced in the UK) What is a discount market sale property? A discount market property is sold to someone on a low or middle income at a discount to the current market price of homes in the area. It allows someone to get…
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21 Brilliant Ways To Save For A House
Saving up for a house can be very hard. In the UK rent costs the average worker 30% of their monthly salary. But there are easy wins to have in saving up! We list them below. 1. Set a Monthly Budget As much as this sounds cliché, it is just the plain truth. Yes you…
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Tenants in common vs Joint tenants – Which is better?
Deciding to buy a home with someone is a big financial step. People realise that once they own a home together it can be difficult to sort out matters if they separate. What happens if one person provided most of the deposit for the home purchase to start with?Do they get more of the house…
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Why your salary is so important for a mortgage [Loan To Income Multiples]
Some people wrongly think that getting a mortgage depends on your deposit, but your salary is even more important! Adverts are blasted all across social media claiming the 95% mortgage as being the answer to all millennial problems (we reveal why this type of mortgage can be a bad idea). What Is Loan To Income?…
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Mortgages – How They Work
[First Time Buyer Edition] Funding a home, mortgages, borrowing, loans. People panic when they hear these buzzwords. Confusion and stress can set in. And that’s normal given that most have not gone through a home buying process before. We’re here to help and we’ve broken down all of the main parts you…
