The critical steps required in securing a mortgage agreement in principle: 1. Obtain a copy of your credit file: Your credit file is your financial CV. This is the first document a lender looks at before they make a decision to lend you money. Therefore, at least make sure it contains accurate information. You can obtain a copy of your credit file from Experian, Equifax, or Call Credit. It’s... »
The Family Building Society and Barclay’s have created niche products for first time buyers and the bank of mum and dad. Both lenders offer highly competitive 95% LTV products. Mortgage rates are more expensive once you exceed 75% LTV. But these lenders have created innovative products to mitigate the cost of lending. The Family Building Society has developed a product that enables first tim... »
The Bank of England base rate was at 0.50% from March 2009 to June 2016. It was reduced to 0.25%, August 2016. And it was increased back to 0.50%, November 2017 Question: Where do you see the Bank of England base rates in 2018? If there is one thing I am 100% certain of, it is that there will be areas of uncertainty. No one has a crystal ball; as an example, very few people predicted the global cr... »
Under permitted development rights, you are allowed to extend or change your home without the need for planning permission. If you live in a designated area, then you will be restricted or prohibited from carrying out any changes. However, the general advice is that you consult your local planning authority about your proposed development before commencing any work. You might be looking to purchas... »
Unfortunately, once you get close to retirement age, your mortgage options reduce significantly. As a result of the new rules that came into force in April 2014, lenders have decided to close the shop on lending to older borrowers. It’s all about affordability! It’s very easy to jump on the media band wagon and accuse lenders of adopting an ageist policy to anyone over the age of 35, but let’s not... »
Japanese Knotweed is an invasive alien plant that can take over your property and destroy it. This plant can grow through concrete foundations, tarmac, and roads, and can cut through the foundations of your house like a knife through butter. It’s been listed by the world’s conservation society as one of the world’s worst invasive species. Forget Jack and the beanstalk, this is the real McCoy! It ... »
Kevin McCloud: “Building your own home isn’t a dream limited to just the rich or adventurous. Anyone can do it! Young couples, retired people, people working together in a group, the disabled – anyone, and the rewards are fantastic. The home you really want, designed to exactly match your needs and, typically, savings of between a quarter and half of the costs.” There are a... »
The traditional way is to sell your property and use the proceeds as the deposit for your new home. But what happens if you have not been able to sell your property and you have seen a property that you absolutely don’t want to lose. Are you in a position to proceed with the purchase of a new residential home when all your money (equity) is in your existing home? Subject to a number of factors ... »
If you are looking to invest in property, the experts will suggest you have a clear strategy from the outset. Once you have mastered a particular investment strategy, then you can start to diversify. Sometimes it’s best to just focus on one strategy and become an absolute expert. As they say: practice makes perfect. A particular property investor decided from the outset that his BTL strategy was H... »
If you’re moving home and about to apply for a mortgage then it’s fair to say that you are not a complete novice regarding how a mortgage works. Two year mortgage deals are always the cheapest. When you work out your monthly mortgage cost on a two year product, it will always look like a more attractive and enticing option as the monthly payments are lower. But just because something is cheaper do... »