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Author: amoore70
Will I be liable for the mortgage after separation?
Whether you will be liable for the mortgage after separation depends on several factors, including the nature of the mortgage agreement, the ownership of the property, and any legal agreements made during the separation process. Here’s a detailed breakdown of what you need to consider: Key Factors Determining Liability: Options for Handling the Mortgage After… Read more
Am I excluded from getting a mortgage?
In the UK, certain individuals may face exclusions or significant difficulties when attempting to take out a mortgage. These exclusions can be based on various factors including financial history, residency status, age, and employment status. Here are some groups of people who are typically excluded or face substantial challenges: Additional Considerations: Steps to Improve Mortgage… Read more
Restrictive covenants explained
A restrictive covenant is a type of legal obligation imposed in a property deed or title, which restricts the use or development of the land in some way. In the UK, restrictive covenants are used to control the use of property and maintain certain standards within a development or neighborhood. Key Points About Restrictive Covenants:… Read more
Can I withdraw from my house purchase after exchanging contracts?
In the UK, exchanging contracts in a house purchase is a critical point in the property transaction process. It signifies a legally binding agreement between the buyer and the seller. Once contracts are exchanged, both parties are committed to completing the sale on the agreed completion date. Withdrawing from the purchase after this stage can… Read more
What is land transaction tax?
Land Transaction Tax (LTT) is a tax on property transactions in Wales. It was introduced on April 1, 2018, replacing the Stamp Duty Land Tax (SDLT) in Wales. LTT is administered by the Welsh Revenue Authority (WRA) and is applicable on the purchase or lease of land or property. Key Points of Land Transaction Tax… Read more
What is land and buildings transaction tax?
Land and Buildings Transaction Tax (LBTT) is a tax on property transactions in Scotland. It was introduced on April 1, 2015, replacing the Stamp Duty Land Tax (SDLT) in Scotland. LBTT is administered by Revenue Scotland and applies to residential and non-residential property purchases and leases. Key Points of Land and Buildings Transaction Tax (LBTT):… Read more
Can child maintenance payments count towards a mortgage application?
Child maintenance payments can sometimes be considered by UK mortgage lenders, but it depends on the lender’s policies and the consistency and reliability of the payments. Here are some general guidelines: To get a clearer picture, it’s advisable to speak directly with a mortgage broker or lender. They can provide specific information based on your… Read more
Understanding Inflation and Its Impact on Interest Rates
What is Inflation? Inflation refers to the general increase in prices of goods and services over time, leading to a decrease in the purchasing power of money. In simpler terms, when inflation occurs, each unit of currency buys fewer goods and services. It is usually measured by the Consumer Price Index (CPI) or the Retail… Read more
What You Need to Provide to Get a UK Mortgage if You Are Self-Employed
Getting a mortgage in the UK can be a complex process, and it often requires more documentation and scrutiny if you are self-employed. Lenders need to be assured of your ability to repay the loan, which involves providing detailed proof of your income and financial stability. Here’s a comprehensive guide on what you need to… Read more
Why you need to make a will
Creating a will is one of the most important steps you can take to ensure your wishes are respected after your death. Despite its significance, a surprising number of people in the UK either delay making a will or overlook it altogether. This article highlights the critical reasons why you should consider making a will… Read more