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What you should know before you buy Thinking of buying a new home? Buying a property is likely to be the largest purchase you will ever make, and the decision on whether to opt for a leasehold versus freehold may well come down to your situation. If you’re looking to buy an apartment, it’s likely that you’ll be looking at a leasehold property. There are a number of factors to consider... Read more
The press aren't qualified mortgage advisers Well that's obvious isn't it? Yet when their fixed rate mortgage is ending, so many people still try to navigate their way through a re-mortgage without professional advice and assistance. Read the press headlines, check some mortgage rates online and switch right? WRONG. Now, more than ever when your fixed rate mortgage is ending you'll need s... 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
Your mortgage appointment is essentially a fact finding exercise for your mortgage adviser. He will take some time to get to know you, your borrowing needs and your financial situation. Your adviser has a huge amount of knowledge about how you will be assessed for borrowing by the lenders. Based on the information you give to your adviser he will do an affordability assessment to give yo... Read more
