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Author: amoore70
The pro’s and con’s of buying a terraced house
Terraced houses, also known as row houses, are a common sight in the UK. These properties are characterized by a series of homes built in a continuous row, sharing side walls with their neighbours. While terraced houses offer several advantages, they also come with some drawbacks. This article explores the pros and cons of buying… Read more
Understanding APR and Its Role in UK Mortgages
When navigating the world of mortgages, one crucial term that borrowers frequently encounter is the Annual Percentage Rate (APR). This figure provides a comprehensive measure of the cost of borrowing, helping consumers compare mortgage products effectively. This article explains what APR is, how it is calculated, and its significance in UK mortgages. What is APR?… Read more
Debt relief orders and how they relate to mortgages
Debt Relief Orders (DROs) are a form of debt relief available in the UK for individuals who have low income, minimal assets, and relatively low levels of debt. They are designed to provide a fresh start for people who are struggling with debt by allowing them to have their debts written off after a certain… Read more
High net worth customers and mortgage applications
A high net worth (HNW) customer is an individual or household with significant financial assets and wealth. While there is no universally agreed-upon definition of what constitutes a high net worth individual, they typically have substantial liquid assets, investments, and/or property holdings that far exceed the average person’s wealth. In the UK, high net worth… Read more
Understanding home reversion plans
A Home Reversion Plan is a type of equity release scheme available in the UK that allows homeowners, usually those aged 65 or older, to sell part or all of their property to a reversion company in exchange for a lump sum payment or regular income, while retaining the right to live in the property… Read more
Extending a property lease
In the UK, lease extension allows leasehold property owners to extend the length of their lease, providing greater security and potentially increasing the value of their property. The ability to extend a lease depends on certain criteria and is governed by specific legal processes outlined in legislation, primarily the Leasehold Reform, Housing and Urban Development… Read more
Understanding SVR’s
In the UK mortgage market, understanding different types of interest rates is crucial for borrowers. One of these types is the Standard Variable Rate (SVR). This article delves into what SVR is, how it works, and its implications for mortgage borrowers in the UK. What is SVR? The Standard Variable Rate (SVR) is the default… Read more
Understanding HMOs and Their Impact on Mortgages
The property market in the UK offers various investment opportunities, with Houses in Multiple Occupation (HMOs) being a popular choice for landlords seeking higher rental yields. However, HMOs come with specific regulatory requirements and implications for mortgages. This article explores what an HMO is, the legal requirements for operating one, and how HMOs affect mortgage… Read more
Understanding Equity Release : What It Is and How It Works
As the population ages, many homeowners in the UK are looking for ways to access the wealth tied up in their property to fund their retirement or other financial needs. Equity release is one such solution, allowing homeowners to unlock the value of their home without the need to sell or move. This article explores… Read more
The top 10 places in UK with best rental yields in 2024
In 2024, several UK cities and regions offer attractive rental yields for property investors. Here are the top ten locations currently providing the highest rental yields: These locations highlight the regional disparities in rental yields across the UK, with Northern and Midlands cities offering some of the highest returns for buy-to-let investors. While London and… Read more