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Author: amoore70
Why consider critical illness cover for children?
Understanding Critical Illness Cover for Children in the UK In the unpredictable journey of life, ensuring the safety and well-being of our children is paramount. While we cannot prevent every accident or illness, we can certainly prepare for unforeseen circumstances. Critical illness cover for children in the UK is designed to provide financial support to… Read more
Living on a houseboat – what you need to know
Living on a houseboat in the UK offers a unique lifestyle, combining the tranquility of waterborne living with the adventure of a mobile home. Whether you’re drawn to the picturesque canals, the sense of community, or the idea of downsizing, it’s essential to understand the practicalities and considerations before making the leap. Here’s a comprehensive… Read more
Stamp duty land tax rules for second homes
Stamp Duty Land Tax (SDLT) rules in the UK for second homes are more stringent compared to those for primary residences. The government introduced an additional surcharge to deter individuals from purchasing multiple properties, aiming to make housing more affordable for first-time buyers and to address the housing shortage. Here is a detailed explanation of… Read more
All about Key Facts Illustrations
A Key Facts Illustration (KFI) is a document used in the UK mortgage market to provide prospective borrowers with detailed and standardized information about a mortgage product. The KFI ensures that borrowers can understand the key features, costs, and risks associated with a mortgage, enabling them to make informed comparisons and decisions. Contents of a… Read more
ESIS forms – what are they and what should they contain?
An ESIS form, or European Standardised Information Sheet, is a document provided to potential mortgage borrowers in the UK to offer a comprehensive and standardized overview of the mortgage product they are considering. The ESIS form ensures that borrowers have clear and comparable information about mortgage offers from different lenders, facilitating better-informed decisions. This form… Read more
Understanding legal titles in UK land ownership
In the UK, land ownership is categorized into various types of legal titles, each conferring different rights and levels of security to the holder. Understanding these titles is crucial for anyone involved in buying, selling, or managing property. The main types of legal titles in UK land ownership include Absolute Title, Possessory Title, Qualified Title,… Read more
Adverse mortgages – what are they and who are they for?
An adverse mortgage in the UK is a type of mortgage specifically designed for individuals with a history of adverse credit. These mortgages cater to borrowers who have struggled with credit issues, such as missed payments, defaults, County Court Judgments (CCJs), bankruptcies, or Individual Voluntary Arrangements (IVAs). Due to the increased risk posed by these… Read more
Credit impaired customers and the impact on mortgages
In the context of UK mortgages, a credit-impaired customer (also known as an adverse credit customer) is an individual with a history of credit issues that may affect their ability to obtain a mortgage or result in them being offered less favorable mortgage terms. This status is typically defined by certain negative marks on their… Read more
Right to manage – all you need to know
The Right to Manage (RTM) in the UK leasehold system grants leaseholders of residential properties the legal right to take over the management responsibilities of their building from the landlord or managing agent. This process empowers leaseholders to collectively manage the property’s common areas, such as staircases, communal gardens, and shared facilities, without having to… Read more