If you want to switch to a new mortgage deal or pay off your remaining mortgage after coming into some money, you need to be aware of Early Repayment Charges (ERC) if you are still in a fixed rate period. An early repayment charge may reduce or even negate any financial benefits of remortgaging, so …
When exploring the best way to find a mortgage, you might consider finding a lender yourself or working with a mortgage broker. Online comparison sites give you a way to compare products from different lenders, so mortgage brokers have had to expand their service to do more than simply compile a list of options. Furthermore, …
One of the main reasons behind this variation in fee structures is that different cases come with varying levels of complexity. A more complicated case will take up more of the broker’s time, while a straightforward case will not come with such a heavy workload. You should always be told about a broker’s fee in …
A debt consolidation mortgage is something that may be beneficial to your financial situation if you are encumbered by debt. But it is important to understand how debt consolidation mortgages work in order to assess whether it would be more cost-effective for you than paying your debts back another way. In this article, we tell …
Sometimes we need to finance something new, like some home improvements or a new car. If you haven’t saved enough money to finance something you want to do, one option may be to borrow more on your mortgage. In this article, we will look at how people go about borrowing more on their mortgage to …
Let to buy mortgages can help you to purchase your next home when you don’t currently have a buyer for your existing one. The world of property can be complicated so in this article, we will look at what a let to buy mortgage is and whether it is a good fit for your needs. …
A ‘part and part’ mortgage is an arrangement where you pay off some of your mortgage capital as you go, but not the entirety of it. Your monthly payments will cover a portion of the loan plus the interest, and when the mortgage comes to an end there will still be money left to pay …
An interest only mortgage is a financial product whereby the borrower’s monthly payments over the mortgage term cover only the interest. This arrangement will run for a set amount of time, at the end of which the borrower must repay the lender the full amount of the original capital. There are advantages and disadvantages to …
It is never good news to be told your mortgage has been declined, but it doesn’t have to be the end of your property journey. In this article, we will explore the most common reasons for a mortgage refusal and offer some advice on what you can do next. Remember, this is not personalised mortgage …
For self employed people, it can be a little more challenging to get a mortgage. You will need to demonstrate that you have a reliable income, and this is far from impossible. There are lots of things you can do to show a mortgage lender that your income is reliable, but you will usually need …