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Author: amoore70
Energy Performance Certificate’s (EPC) explained
In the UK, an Energy Performance Certificate (EPC) is a legal requirement for most residential and commercial properties that are sold, rented, or constructed. It provides information about a property’s energy efficiency and carbon emissions, helping prospective buyers and tenants understand the energy performance of the building. Here’s an explanation of EPC certificates, the different… Read more
The good and bad of currency mortgages
Currency mortgages, also known as foreign currency mortgages or FX mortgages, are a type of mortgage where the loan is denominated in a currency other than the borrower’s home currency. In the UK, currency mortgages are typically associated with borrowing in a foreign currency, such as euros or US dollars, to purchase a property. Here’s… Read more
Renting an unfurnished property – what’s included?
Essentials for an Unfurnished Rental Property in the UK Renting an unfurnished property in the UK offers tenants the flexibility to personalize their living space while providing landlords with a more straightforward rental process. However, there are essential items that landlords should consider including to attract tenants and ensure a comfortable living environment. From basic… Read more
Explaining higher lending charges
Higher Lending Charges (HLC), also known as Mortgage Indemnity Guarantees (MIG) or Mortgage Indemnity Premiums (MIP), are additional fees that may be applied by lenders in the UK when borrowers take out a mortgage with a high loan-to-value (LTV) ratio. Here’s an in-depth explanation of what HLCs are, how they work, and their implications for… Read more
Self build mortgages explained
A self-build mortgage in the UK is a type of home loan designed specifically for individuals who are constructing their own property, rather than buying an existing one. These mortgages cater to the unique needs and risks associated with self-building projects, where funds are typically released in stages as the build progresses, rather than as… Read more
Subrogation and how it affects mortgages
Subrogation is a legal concept that is relevant in various financial and insurance contexts, including mortgages in the UK. It refers to the right of a party, usually an insurer or lender, to step into the shoes of another party to assume their legal rights and remedies. This often occurs after the first party has… Read more
The financial impact of selling a right to buy property
Selling a Right to Buy (RTB) property in the UK has specific implications, especially regarding payback or repayment requirements if the property is sold within a certain period after purchase. Here’s an explanation of the impacts and the payback rates associated with selling a Right to Buy property: What is Right to Buy? Right to… Read more
What is a deed of postponement?
A Deed of Postponement is a legal document used in the UK mortgage market to change the order of priority of charges secured against a property. This document is typically used when a homeowner has more than one mortgage or secured loan and wants to take out additional financing, such as a further advance or… Read more
Second charge mortgages – the advantages and disadvantages
In the context of UK mortgages, a second charge refers to a type of secured loan that is taken out against a property that already has an existing mortgage. The second charge loan is subordinate to the first (or primary) mortgage, meaning that if the borrower defaults and the property is sold to repay debts,… Read more
Consumer Buy To Let
In the UK mortgage market, “Consumer Buy-to-Let” (CBTL) refers to a specific category of buy-to-let (BTL) mortgages that are regulated differently compared to standard buy-to-let mortgages. The distinction primarily relates to the borrower’s intention and circumstances under which the property is being rented out. Definition and Criteria A Consumer Buy-to-Let mortgage is designed for landlords… Read more