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Category: MORTGAGE APPLICATION
MORTGAGE APPLICATION
Expenditure considerations when applying for a UK mortgage
When applying for a mortgage in the UK, lenders conduct a thorough assessment of your financial situation to determine your affordability and ensure you can manage the repayments. This assessment includes a detailed look at your income, credit history, and expenditure. Understanding the types of expenditures that lenders take into account can help you better… Read more
Let to buy explained
“Let to buy” (LTB) is a property strategy where a homeowner rents out their existing home in order to purchase a new one. It is popular in the UK among people who want to move to a new property but don’t want to sell their current one. Here’s how it works: Key Benefits: Key Considerations:… Read more
Understanding subsidence: Causes, management, and implications for UK mortgages and building insurance
Subsidence is a concern that strikes fear into the hearts of homeowners, landlords, and insurers alike. It’s a phenomenon that can cause significant damage to properties and, if left untreated, can lead to costly repairs and insurance claims. In this article, we’ll explore what subsidence is, why it happens, how to deal with it, and… Read more
What survey should I choose? A comprehensive guide to home surveys for UK buyers
Buying a home is one of the most significant investments you’ll make in your lifetime, and ensuring the property is in good condition is crucial to avoiding costly surprises down the line. That’s where home surveys come in. From basic condition reports to comprehensive building surveys, there are several types of surveys available to UK… Read more
What is a discounted rate mortgage?
A discounted rate mortgage is a type of mortgage product where the lender offers borrowers a temporary discount on their standard variable rate (SVR) for a specified period at the beginning of the mortgage term. This discount typically lasts for a predetermined introductory period, often ranging from two to five years, although longer or shorter… Read more
Capped rate mortgages – what you need to know
A capped rate mortgage in the UK is a type of mortgage product that combines elements of both fixed-rate and variable-rate mortgages. With a capped rate mortgage, the interest rate fluctuates in line with the lender’s standard variable rate (SVR), but there is a limit, or cap, on how high the interest rate can rise… Read more
Exploring mortgage protection products in the UK: Safeguarding your home and finances
Purchasing a home is often the most significant financial commitment individuals make in their lifetime. With this in mind, ensuring that this investment is protected against unforeseen circumstances is paramount. Mortgage protection products offer a range of options to safeguard homeowners and their families in the event of illness, unemployment, or death. This article delves… Read more
Tracker mortgages – all you need to know
Tracker mortgages are a popular type of mortgage product in the UK, offering borrowers the opportunity to benefit from changes in the Bank of England’s base rate. This comprehensive guide aims to provide a detailed overview of tracker mortgages, including how they work, their features, benefits, considerations, and their suitability for different types of borrowers… Read more
Do I need an EWS1 form for my property?
Understanding the EWS1 Form: What It Is and Which Properties Need It In recent years, the External Wall Fire Review process, commonly known as the EWS1 form, has gained prominence in the UK property market, particularly in the wake of the Grenfell Tower tragedy. This article aims to provide clarity on what the EWS1 form… Read more