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There's no doubt that the housing market has changed this year, driven by the rise in mortgage interest rates and consumer uncertainty, house prices have started to fall but what does that mean for people looking to move house and upsize. These are the things you need to know when moving in today's market. 1. Upsizing in a price falling market should work in your favour. Let's do the sums ... Read more
You never know what life has in store. Is your family financially protected? If you own a property, it’s important to have sufficient life insurance in case something happens to you. If you die, your family may still need to pay off the mortgage and other expenses, and life insurance can help with that. Should you pass away within the policy term, it lets you leave a lump sum behind t... Read more
Interest payments on the help to buy Government loan begin in year six at a rate of 1.75% and will increase annually. It is likely that when you took out the mortgage for your home you selected a 5 year fixed rate product. At the end of the 5 year period that mortgage product is due for renewal you will need to re-mortgage. This means switching to a new fixed rate mortgage product either with... Read more
A Mortgage in Principle (MIP) also known as an Agreement in Principle (AIP) or a Decision in Principle (DIP) is a written estimate from the lender, giving you an indication of what they would be willing to lend you buy way of a mortgage. It is important to remember that an AIP is a formal approach to the lender asking them to check your credit file and assess affordability. A Mortgage... Read more
