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Author: amoore70
Do bonus payments count as income for mortgage applications?
Yes, bonus payments can count as income when applying for a mortgage in the UK. However, how they are considered can vary between lenders. Here are the key points to understand: Factors Lenders Consider: Mortgage Types and Bonus Income: Practical Steps: Summary: Bonus payments can count as income for mortgage applications in the UK, but… Read more
Sharia law mortgages: Ijara method explained
The Ijara method is a Sharia-compliant way to finance home purchases for Muslims who wish to adhere to Islamic law, which prohibits paying or receiving interest (riba). Here’s an overview of how the Ijara method works in the context of Sharia law mortgages in the UK: Ijara Method Explained: Steps in the Ijara Process: Key… Read more
Should I choose a discounted mortgage?
A discounted mortgage is a type of home loan where the interest rate is set at a certain percentage below the lender’s standard variable rate (SVR) for a specified period. Here’s a detailed overview of how it works and who might benefit from it: How a Discounted Mortgage Works: Who Should Use a Discounted Mortgage?… Read more
Different ways to obtain your credit score
In the UK, there are several ways to obtain your credit score, each offering various levels of detail and additional services. Here are the primary methods: 1. Credit Reference Agencies (CRAs) The three main credit reference agencies in the UK are Experian, Equifax, and TransUnion. Each offers ways to check your credit score: 2. Third-Party… Read more
The most popular countries where Britons buy a holiday home
Many Britons purchase holiday homes abroad to enjoy better weather, different cultures, and potential investment opportunities. The most popular countries where Britons tend to buy holiday homes include: 1. Spain 2. France 3. Portugal 4. Italy 5. Greece 6. Cyprus 7. Turkey 8. USA 9. Bulgaria 10. Thailand Conclusion: These countries are popular among Britons… Read more
Should I be worried that my house has heave?
Heave in a house refers to the upward movement of the ground supporting the foundation, often caused by soil expansion due to moisture changes. This can lead to structural issues in a house. Whether you should be worried depends on the severity of the heave and its impact on your property. Here are some factors… Read more
What is securitisation?
Securitisation in mortgages is a financial process that involves pooling various types of mortgage loans and then selling these consolidated debt as mortgage-backed securities (MBS) to investors. This process helps lenders to free up capital, allowing them to issue more loans, and provides investors with an opportunity to invest in real estate without having to… Read more
Drawbacks of an equity share mortgage
An equity share mortgage, also known as a shared equity mortgage, is a type of home loan where the borrower and the lender (or another party) share ownership of the property. While this type of mortgage can make homeownership more accessible, especially for first-time buyers, it also comes with certain drawbacks. Here are some of… Read more