Latest news & advice

Although house prices have been on the rise, purchasing a property is still cheaper in the long run than renting and it’s always worthwhile trying to get on the housing ladder.

Tickets are now on sale for the upcoming Maidenhead & Windsor Business & Community Awards.

The awards aim to bring together the business community to celebrate outstanding talent and effort from both businesses and the community.

Here we have looked into SDLT in more detail and explored how the recent tax reduction can help people who want to buy a new home.

Whether you’re buying a home or remortgaging, taking out a new mortgage is a big responsibility and it’s crucial to ensure you’re choosing the right mortgage deal

To assist anyone who is about to remortgage or buy a new home, we have attempted to answer some of the questions we are frequently being asked about rising mortgage rates. 

Although the reason behind the base rate rise makes sense, it is still understandably concerning for anyone who wants to purchase a new property or remortgage their property in the near future.

Although the reason behind the base rate rise makes sense, it is still understandably concerning for anyone who wants to purchase a new property or remortgage their property in the near future.

Although the reason behind the base rate rise makes sense, it is still understandably concerning for anyone who wants to purchase a new property or remortgage their property in the near future.

If you’re a landlord & you’re unaware of the proposed upcoming legislative changes, see how this new bill could impact the UK rental market.

It has always been beneficial to speak to a mortgage advisor when you’re taking out a new mortgage, but this interest rate rise has made it even more important.

The term ‘mortgage salary multiplier’ is used when referring to multiplying your income to calculate the maximum amount a mortgage provider would lend to you.

Ultimately, a full structural survey provides you with peace of mind and removes some of the risks associated with buying a property.

IPFA stands for ‘Industry Panel for Financial Advice’ and this panel has come together to advocate on behalf of UK financial advisers and all of the customers we serve.

Before a mortgage provider agrees to lend you the money you need to purchase a property, they will conduct a mortgage valuation.

If you’re unable to buy a property outright and you need a mortgage to make the purchase, it’s important to be aware there are several fees associated with taking out a mortgage too. I

If your current mortgage deal is no longer competitive and you think you could save money by taking out a new mortgage product,

This fee is also known as an Early Repayment Charge and it is one of the largest fees associated with fixed rate mortgages.

we have put together a list of important things to consider whenever you’re comparing mortgage products from different lenders.

We have listed some of the most common reasons why people are unable to get the mortgages they’ve applied for

To help anyone who is interested in equity release, below we have answered three of the most commonly asked questions.

To help anyone who is interested in equity release, below we have answered three of the most commonly asked questions.

If you’re over 55 years of age and have considerable equity in your home, you may be wondering; ‘can I use equity release to buy a second home?’.

You may have heard of the term ‘equity release’ and simply put, this is the process of releasing some of the money that is tied up in your home.

Purchasing a property and then letting it out to tenants is a great way to earn additional income and the more properties you own, the more you can earn.

Purchasing a property and then letting it out to tenants is a great way to earn additional income and the more properties you own, the more you can earn.

Buying your first home comes with a mixture of emotions. Owning a property is a really exciting prospect, but the practicalities associated with actually buying a property can be quite daunting.

Although there is a huge range of different types of mortgages on the market, one of the most commonly required is a residential mortgage.

Once you have been living in your home for a few years, you may want to consider remortgaging. Switching mortgage providers is actually quite common and there are a number of different reasons why people choose to remortgage

If you’re still trying to get to grips with what a mortgage is, below we have covered all of the basics you need to know before buying a property. 

It is important to ensure that you’re aware of your credit score and you’re obtaining a copy of your credit report before applying for a mortgage. 

There are actually lots of different land mortgages available, from self-build mortgages and commercial development mortgages to agricultural mortgages.

If you’re wondering what can potentially stop you from getting a good mortgage deal, we have looked into some of the most common factors to be aware of. 

Nowadays 100% mortgages, also known as ‘no deposit’ mortgages, are not available and people who are looking to buy a home will require at least a 5% deposit to get a mortgage offer from a lender.

Getting a foot on the property ladder is becoming more and more difficult for people of all ages. Not only is the price of property in many parts of the UK continuing to rise, but the majority of businesses still only pay their employees minimum wage, so many fear that they will never be able to own their own home. 

The mortgage that you secured when buying your property may not be the best deal after a few years, especially if your home has gone up in value

If you’re new to buying a home, you may hear lots of familiar phrases that you don’t fully understand. One of these phrases commonly used is ‘the chain’. If you’re unsure what this is and why it’s talked about so much, we explain here.

A gifted deposit is a sum of money given to you by someone else, usually a member of your family. The money you are gifted must be given by way of a gift and not a loan.

There are a few reasons why you might be buying a property with a tenant still in occupation (a sitting tenant).

How does a first-time buyer get onto the housing ladder? Here we make a few suggestions...

Here are some other things to consider before placing your house on the market...

Perhaps an unexpected by-product of Covid is that many people have changed their priorities when it comes to ‘must-haves’ and ‘nice-to-haves’ in their dream new home.

The Help to Buy scheme allows first-time buyers to purchase a new-build property with just a 5% deposit.

If you increase the loan on your primary home, the mortgage lender will want you to be able to prove that you can afford the larger loan.

These long leases are sometimes referred to as ‘virtual freeholds’. The owner of such a lease might not own the freehold but he does have most of the rights associated with ownership of the freehold, such as the right to exclusive possession and quiet enjoyment.

With the new mortgage guarantee scheme, even if you only have 5% deposit, you may be able to obtain a mortgage on the remaining 95% of the purchase price

Rishi Sunak has announced that he is to extend the existing Stamp Duty Holiday until the end of June 2021.

A sinking fund is basically a savings account managed, usually, by the building’s managing agent.

A Debt Management Plan is a mechanism by which you can have a third party negotiate with the people to whom you owe money and set out a plan by which you will make a single, affordable monthly payment each month.

From the 1st of April, Landlords are now obliged to have an electrician undertake an Electrical Installation Condition Report (EICR).

Moneyfacts, the independent mortgage market monitor of all things ‘mortgage’ has reported that overall mortgage availability rose in January 2021, to 3,215 products!

There are still many reasons why the UK property market could be considered one of the best investment opportunities in the world. Here are ten reasons why.

The more complete a picture you can build both before and after you make your offer, the better protected you are from the unknowns in the transaction. Don’t be afraid to ask.

As with all professional services, the level of service will vary and therefore, it’s important that you ask some very specific questions when deciding which mortgage adviser to use.

Whilst a physical, in-person viewing is going to be necessary at some point, a virtual viewing can be very useful in the early stages and can save you a lot of wasted time.

Many properties are sold leasehold and subject to a ‘peppercorn rent’. This is effectively a notional rent that isn’t demanded or paid. It is purely a legal requirement of any contract.

If you feel you may have bad credit, you should obtain a copy of your credit report which will show all your credit, good and bad.

First-time buyers that wish to buy a new-build home will be able to apply for an Equity Loan from the government for up to 20% of the home’s value.

Here we list 10 things you should consider doing to enhance your return on capital.

With energy prices likely to rise in the long term, it makes sense to consider how you can make your home more efficient.

A second mortgage, as the name suggests, is a second loan that is also secured on a property.

The TA6 Property Information Form is a form designed to aid the seller in giving important information on the property being sold, to the buyer.

Selling your home in winter has its challenges. But there are some things working in your favour. Use these to your advantage.

A TA10 form is one of several forms a seller must complete during the conveyancing process. The TA10 sets out, in detail, what is or is not included in the sale of the property.

Here we look at what might happen to mortgages if the Bank of England take the unprecedented step of reducing mortgage rates below zero!

There are largely two main factors that drive interest rates in the UK mortgage market. They are The Bank of England’s Base Rate and LIBOR.

Flats, in particular, are usually owned leasehold because in very simple terms, to own the freehold of a property is basically to own the land below and the air above and, in the case of a flat, clearly this isn’t possible.

SMI or Support for Mortgage Interest is a loan paid by the government to help you pay all or part of the mortgage interest during times when you are unable to do so.

Whilst a Zero Hours Contract is a more precarious type of employment and does make obtaining a competitive mortgage offer more difficult, it is possible.

The Government's New First Homes Scheme is aimed at first-time buyers, key workers and veterans looking to buy a new-build home.

It’s easy to assume that once you’ve agreed to sell your home, it’s just a matter of your solicitor or conveyancer ‘doing the legal stuff’ and that’s that. Unfortunately, your job is still only partly done.

The process of obtaining a buy to let loan usually takes between 4 - 6 weeks, although, as with all purchases, there are a variety of steps to the process which will delay or even stall the process.

The benefits for expats retaining property in the UK whilst working abroad can be significant. Especially if you expect to return at some time in the future.

There is some good news for those keen to use the government’s existing Help to Buy scheme which is due to be replaced by a more restrictive scheme in April 2021.

Each mortgage lender seems to be approaching this issue in a different manner. Some lenders are taking each case on its own merits.

What is the Family Springboard Mortgage?

If you have applied previously, but would like to extend the holiday then you may do so but there is no guarantee that an extension to such a holiday will be granted.

The government's Green Home Grant will allow you to receive up to two-thirds of the costs spent on making your home more energy efficient.

What can you do to improve your negotiating position? Here are a few simple tips that too many people ignore.

Regularly referred to as an EPC, the Energy Performance Certificate was introduced by the UK government to audit the UK’s built environment and to assess its energy efficiency and nudge/require owners to improve the energy efficiency of their property.

The definition of a first-time buyer has been set out by the government in a guidance note published in 2018. It states the following...

Recent events have led the Bank of England to drop the Bank of England’s Base Rate twice in a month to an historic all-time low of 0.1%.

The regulations apply to new tenancies commencing on or after 1 July 2020 and inspections relating to properties subject to existing tenancies must be undertaken before 1. April 2021.

The chancellor has announced a temporary holiday on stamp duty up to £500,000 as part of a number of measures to help stimulate the economy. We have listed below the key facts following this announcement.

One thing that has come out of lockdown is a steady stream of First Time Buyers ready to get on the housing ladder.

Applying for a mortgage can seem an intimidating and complicated process. Thankfully this is something we do every single day, so we can do much of it for you. Simple.

You must have an Energy Performance Certificate before you start marketing your property. Buildings that don’t need an EPC include...

The government had intended to abolish the scheme completely in 2023, but are now being asked to reconsider in the light of current events.

The ‘LISA’ may be opened by anyone between the ages of 18 and 39. As with other ISA’s, the annual investment limit is £20,000 per annum and return on the sum invested is tax-free.

Like every utility bill you pay, it makes perfect sense to regularly check whether you have the right mortgage for you.

HSBC managed to keep their 90% lending going throughout and this week Accord mortgages, Virgin Money and the Clydesdale bank all announced the welcome return of their 90% products.

Mortgage payment holidays for borrowers struggling as a result of the coronavirus crisis is to be extended by three months under new proposals announced by the government.

April 2020 brings with it the end of this phasing. Landlords no longer enjoy tax relief on interest and instead will be faced with a flat tax credit of 20% for mortgage interest.

With the Bank of England record low base rate to help protect the economy from the impact of the worldwide pandemic, now is potentially a great time to remortgage!

If you are self-employed, a mortgage lender may ask you to provide a copy of your SA302.

Generally referred to as ‘the base rate’, when it falls it is usually (but not always) an indication that lending rates generally will also fall.

If you can’t come to us we can quickly set up a video or phone appointment.

Whether you are an owner-occupier or a private landlord, the most important thing is not to panic or put your head in the sand.

The FCA have issued new guidance on how they expect mortgage lenders and administrators to treat customers fairly during this coronavirus (Covid-19) situation.

We have put together some key mortgage and protection FAQs from the questions we have been fielding from clients. Please do feel free to call if you have any other questions, we are here to help.

Here we look at just a few of the great books out there that might interest the buy-to-let landlord or property investor.

Information for mortgage holders affected by Coronavirus from Tracy Gordon, Director of Operations and Compliance.

The difficulty many contractors, freelancers and the self-employed find proving their income and illustrating it is predictable and stable.

There are a few ways to help reduce the risks of being gazumped. Here are some ideas...

When choosing a conveyancer, here are a few top tips to help make sure everything goes smoothly.

Indemnity insurance, like all insurances, covers risk. Indemnity insurance ‘indemnifies’ someone against the consequences of a known, but perhaps unquantifiable, risk.

A restrictive covenant is an obligation based upon the owner of land to stop him from using that land for a specific purpose.

Choosing an estate agent should be a relatively straightforward task. There are some simple parameters to consider.

Maidenhead business Mortgage Required has been awarded “Best Mortgage Firm” by leading Industry body Premier Mortgage Services.

A mortgage ‘stress test’ revolves around predicting future ‘affordability’. It is seen by many borrowers as just another hurdle to overcome, but it’s important to understand why it was introduced and who it is meant to protect.

It’s easy to spend money on your home. But knowing where to spend it to best improve its value is slightly trickier.

The Financial Ombudsman is there to help mediate when a client and a financial services company, such as a bank of IFA, have a difference of opinion that can’t be resolved through other means. The process is relatively straightforward and we have set it out below.

Critical illness cover usually covers against a myriad of critical illnesses including, heart attack, stroke, MS, certain stages of cancer and perhaps even injury incurred as a result of a car accident.

Lifetime mortgages are becoming more popular as a generation of people with all or most of their lifetime wealth tied up in their homes.

Here is Maia from our protection team taking about mortgage protection and the different types of insurance and why you should speak to a specialist adviser when buying insurance.

Here is Katie, senior mortgage adviser taking about a second charge on a property. A second charge can be taken out against a property for a number of reasons and it's important to understand the most cost effective options available to you.

Here is Maia from our mortgage protection team discussing the different types of insurance to ensure that you are correctly protected using the most suitable provider.

Here is Maia, protection adviser here at Mortgage Required talking about the importance of Life Insurance and how your family would cope financially if you were to pass away.

The mortgage lending criteria is information used to establish if mortgage lender will lend you the funds and how much they will lend to you.

Retirement Only mortgages are generally aimed at borrowers who are too old for standard mortgages and too young for Equity Release.

Here is Katie, senior mortgage adviser discussing the mortgage process when buying your dream home.

Here is Katie, senior mortgage adviser discussing Government schemes available to help first time buyers get onto the property ladder. These include - Help to Buy, Help to Buy ISA, Help to Buy Shared Ownership.

Here is Katie, senior mortgage adviser discusses mortgage affordability criteria and how a mortgage lender will base the size of your mortgage on your income.

Here is Katie, senior mortgage adviser answering frequently asked questions from our first time buyers.

We have recently seen an increase in the number of people buying homes together, even though they are not married. If you are one of these people, here are a few tips to consider.

After receiving your mortgage offer there are a few things you should do - or rather, not do. They include...

In most cases a mortgage lender will insist of life cover to cover the debt secured on the property. In addition, you might decide that you want to leave a lump sum to cover for expenses in the immediate months or years after your death.

With most Equity Release mortgages it’s likely that the loan is increasing in size as interest on money you have borrowed on the mortgage accrues. However, this doesn’t mean that you can’t port your mortgage to another, perhaps smaller, property.

Of course, buying your dream home means, by definition, that your heart is driving this at least as much as your head. You need to suppress your desires and keep a cool head. Don’t allow the day dreams and wishes to cloud your judgement.

When shopping for a new mortgage, it might seem sensible to stick with the devil you know - namely, your bank. But is this really the right thing to do?

To minimise the risk when investing in property there are a variety of measures you should take and precautions you can make. Here are just a few...

Bridging loans can be taken to meet inheritance tax liabilities, which can become payable on inherited property very quickly.

A Home Reversion Plan allows you to access all or part of the value of your property whilst, at the same time, retaining the right to remain in your property, rent free, for the remainder of your life.

Repossession proceedings are extremely stressful and upsetting. It’s important that you take advice early and keep your head.

Buying your first property can seem complicated but if you understand the process you can save time and money. Here is a brief guide to the process of buying your new home.

As mortgage products become ever more complex and competitive, the market of lenders grows. This is good for borrowers as it increases competition for their business

LIBOR stands for London Interbank Offered Rate. It is the level of interest that banks use when lending to each other and LIBOR is set every day in London by the British Bankers Association.

With an ISA you’ll earn tax-free interest on your savings or a return on your investments. You can only open one ISA per year, but it is possible to transfer to another with another provider.

An Income Multiplier is the number by which a mortgage lender will multiply your sole or joint incomes when calculating the maximum amount they are prepared to lend to you.

More of us are buying their first property with one or more friends as a first step onto the property ladder.

Here are a few tips to consider when buying a home;

A Guarantor Mortgage allows a third party (maybe your parents) to underwrite your mortgage repayments and obligations. But why would you want that?

Once the lender has evaluated all the information you provide, they may make a mortgage offer which is, at this stage, subject to status.

The campaign urges you to stop and consider whether a situation is genuine – and to stop and think if what you’re being told really makes sense.

The Financial Ombudsman is an organization set up by Parliament. It was created to help ‘sort out’ problems and disputes that might arise when using financial services in the UK.

Almost all, if not all, lenders will either prohibit you from letting your home to a third party or they’ll set restrictions and have formal requirements around notification, etc.

A Lifetime ISA, like other ISAs (Individual Savings Accounts) is a savings account, the interest on which is shielded from tax.

The Mortgage lender will require an independent valuation of the property to make a decision to lend.

The simple answer is yes - you can borrow money for a mortgage deposit. But there are strict rules and good and bad ways to do it. Let’s take a look.

An Early Repayment Charge or ERC is a charge made by a mortgage lender when you repay all or part of the loan amount sooner than the agreed redemption date.

When considering mortgage alternatives, most people will simply look at the interest rate at the start of the loan and make a decision based on the lowest interest rate. This is understandable - but a big mistake.

The UK Government defines the FCA or Financial Conduct Authority as being the body responsible for...

The simple answer is no. At least, you can, but it’s a very bad idea.

The RICS stands for the Royal Institution of Chartered Surveyors. Qualified members of the RICS may use the title ‘Chartered Surveyor’ and use the designation MRICS, or FRICS if they have progressed to become a Fellow.

Equity release is a way to release money by way of a loan secured on your home or through the sale of all or part of your home, subject to certain rights to remain in occupation.

Most of us need a mortgage to buy our next home so how much you can realistically expect to be able to borrow is critical to the process.

When buying or selling your home, understanding the difference between exchange of contracts and completion will help you to control the process, manage expectations and reduce stress.

A Mortgage Agreement in Principal usually last between 60 days and 90 days so it’s important that you don’t apply too soon - or too late.

Whatever your politics, headlines warning of the “Unchartered Territory” and predictions on the vote around the “Withdrawal Agreement” mean we are heading into uncertain times.

Due to the more complex nature of the self employed mortgage applicants, different mortgage lenders apply different criteria to assessing their income.

These figures should encourage first-time buyers looking to obtain a mortgage offer, although it is also worth noting that these figures refer to applications made through an independent intermediary, such as Mortgage Required.

Mortgages are usually repaid over a considerable period of time, perhaps 15 - 30 years and whilst many mortgages are ‘repayment mortgages’, some are ‘interest-only’.

If you are currently looking at mortgages, no doubt you’re starting to get just a little frustrated by exactly what is available and what is the best choice for you. At Mortgage Required this is what we do.

Unfortunately, fixed interest rates will eventually come to an end and when they do the cost of your mortgage may change - sometimes dramatically.

It can be a mind field when you are buying a new home, especially if it’s in an area you don’t know well. Here is our list of things to consider when buying your next home.

Bridging finance is usually used when you want to buy a property before you sell or refinance an existing property.

Here are a few of the primary reasons most mortgage applications are refused.

Paying off your mortgage faster might be desirable for a variety of reasons but whatever your reasons there are a few facts worth considering.

A Mortgage valuation will include summary notes made by the valuer after a short inspection of the property inside and out. It will make recommendations with regard to...

Over the past two days, both Barclays and Nationwide have notified us that they will be increasing their interest rates for new borrowers.

Most mortgage lenders want to see a deposit of 10% and even after help from the Government, it’s likely that you will need to scrape together yourself a deposit of 5% if you are to borrow at a reasonably competitive rate.

‘Remortgaging’ is simply when you either change the type of loan you have, or the mortgage lender, or the terms upon which you borrow. There can be many reasons to do this but here are the three main reasons.

When struggling to meet mortgage payments it can make for an unhappy and stressful life. It’s important to maintain perspective of course and then decide what you can do to improve matters. Sometimes there will be plenty - usually your options are limited.

Many buyers are confused by the difference between a Mortgage Valuation, a Homebuyers Report and a Structural Survey. If you don’t work in the industry, it’s understandable, but there’s an easy way to clarify.

Buying your home is probably the most expensive asset you’ll buy in your life. It’s therefore important that you get it right.

One of the most common reasons for a delay in the mortgage application process is missing information.

A mortgage in principle is an initial mortgage offer made by a lender to a borrower. The offer is conditional upon checks and other criteria (including an acceptable mortgage valuation) but it has several benefits for the borrower.

In simple terms, Equity Release lending enables you to release and use some of the equity tied up in your home whilst still allowing you to remain living there during your lifetime.

The Rental Exchange is primarily a database which aims to better record and score a tenant applying for a mortgage.

Some buyers will decide to obtain an RICS Survey Report which generally covers a rudimentary report on the fabric of the property.

Those of you that read our weekly articles here at Mortgage Required will recall that we warned of the widely-predicted rise in the Bank of England Base Rate back in the first quarter of 2018. Well, this week it has happened.

If you think you might want to switch mortgages first you need to establish what it is going to cost.

The Ministry of Housing, Communities and Local Government have recently introduced new guidelines for HMO landlords.

When buying a home most of us need to borrow money. This loan is secured on the property you are buying and should you fail to stick to the terms agreed it’s possible that the lender will take possession and then sell the property to pay off what is owed.

A mortgage lender will look at several things when deciding how much you can borrow. They are...

It’s no surprise to many homeowners that mortgage repayments in the UK are the most affordable they have been for a decade but now Halifax have brought facts to prove it.

When using an advisor to find your next mortgage on the best terms - for you - make sure to check that they are whole market advisors.

We do not recommend any specific conveyancer but here is a list of local conveyancers in Maidenhead.

If you own the business and it is healthy and profitable there should be no problem.

As with all decisions in life, timing is usually critical. Perhaps now is a good time to re-appraise your own mortgage deal and consider options for the future?

With interest rates having been at historical lows for over a decade it is, perhaps, unsurprising that a recent report by the Halifax has concluded that the proportion of the average UK homeowner’s income committed to paying the mortgage is currently well below the historical average of the last forty years.

What are the advantages and disadvantages of using an FCA qualified and accredited mortgage broker over, say, doing it yourself?

Buying a property at auction can be fun but you need to know what you are doing if you aren't to make some very costly mistakes.

Yes. But usually on a good way, in the long term anyway.

Whilst predicting the future is a precarious business it is worth noting that The Base Rate has been rumbling along at next to nothing for a decade now and at some point rises are inevitable.

If you are one of the estimated 2.6 Million people with an interest-only mortgage that expires within the next 10 years, now is the time to at least consider how you are planning to repay it.

Mortgage rates remain low but with first-time buyers now regularly in their thirties and older, the monthly cost of borrowing is still sometimes relatively high. This is because most mortgage lenders will not extend a loan past a borrower’s retirement age.

When moving home most of us will have an existing mortgage to consider and, of course, we have to make provision for the mortgage on our existing home to be cleared before someone else can buy it.

The Equity Release Council is a not-for-profit organisation and is the recognised industry body for the equity release mortgage sector.

For many of us who took out a Mortgage in the 90’s the end of the term is coming. For some, this is a cause for celebration as they will pay their final mortgage payment but for others who took out an interest only mortgage, it can be a worrying time.

With recent rises in The Bank of England base rate and more in the pipeline, many are being tempted by the stability that a five year fix brings.

We have continued our sponsorship of Maidenhead United FC, as they enjoy their first season in the national League.

The FCA has published guidance to help set out what is expected of lenders and brokers when dealing with borrowers that have an interest-only mortgage.

A lifetime mortgage is a loan made to older applicants which is secured on their home. You have the option not to repay it on a monthly basis but, instead, the interest can be rolled-up over the remainder of your life.

The Help to Buy Schemes continue to be used by home buyers keen to get into the housing market. 2017 was an busy year with over 32,000 new-build homes purchased.

Mortgage Lending Criteria vary from lender to lender and they change fairly regularly. Set by the lender’s underwriters, the criteria are decided upon as part of the lender’s risk management of their entire ‘lending book’s’ portfolio.

No matter where you live, property in the UK is now relatively expensive with the average house price having nearly trebled since 1995. So, what can you do to get on the housing ladder? Here are three ideas to consider.

There is little that can be done to speed up the process and, frankly, you should not want to do so. However, there are some simple things you can do to help smooth the process.

Equity release records broken as unprecedented Q4 activity sees 2017 lending reach £3.06bn with annual growth at a 15-year high.

The conveyancer that you instruct must be properly qualified and authorised to act as your representative in the conveyancing process.

Apps are now playing a greater and more sophisticated role in the life of the homeowner and new home buyer. Here are a few of our favourites UK property apps for your mobile gadgets.

Shared ownership is nothing new but it is becoming more popular as house prices continue to grow out of the reach of even well paid individuals - especially in the South East of England.

At Mortgage Required we are authorised Help to Buy agents and also offer a specialist service to members of the armed forces.

Everyone with a mortgage should check if they are on the SVR now, as the rates will rise from historic lows this month. Everyone with a mortgage should check if they are on the SVR now, as the rates will rise from historic lows this month. 

When most people now buy a new home, the Government recently introduced relief for first time buyers purchasing a home on or after 22 November 2017.

With property prices in many parts of the UK continuing to rise, many young people could be forgiven for assuming that they will never become a homeowner in their own right. However, this is not necessarily the case. 

A mortgage is no more than a secured loan against an asset by way of a lien. A second charge works in exactly the same way. 

We are delighted to be able to announce that Mortgage Required has joined the Equity Release Council.

On 2^nd November, The Bank of England has voted to raise the base rate to 0.5 %, the first increase in more than ten years.

More recently, the UK government introduced a relatively complex scale of tax bands aimed in large part at discouraging the purchase of second homes and property used for buy-to-let investment.

The UK Government have been keen to discourage the small private buy to let investor. From April 2016, anyone purchasing an additional buy to let property must pay at least an extra 3 per cent in stamp duty land tax.

As part of a portfolio of measures aimed at cooling demand from the buy-to-let market, the UK’s Government have recently introduced several fiscal measures aimed at achieving a reduction in those interested in entering the private buy-to-let market.

The Buy to Let landscape is changing. The government fully intends to collect more tax from landlords and the option to buy and rent out property may no longer be open to just anyone who can raise a deposit.

A mortgage broker is an intermediary whose primary function is to advise his client on the mortgage best suited to his or her individual circumstance and specific needs.

If you use an experienced mortgage broker you may find that as long as you have an otherwise good credit history, there is hope. In order to give yourself the best possible chance, you should do some early preparation.

The mortgage process is relatively swift these days, but only if you have already spent some time getting together all the information you need. 

It looks like mortgage rates are on the increase. Scottish Widows, Halifax and NatWest have all announced they are withdrawing rates this week and new products will have higher rates.

In today’s lending market there are a large variety of mortgage types. For the purposes of this article, we’re looking simply at repayment and interest-only mortgages.

An unsecured loan is a loan made to a party without any particular asset offered as collateral. A secured loan on the other hand is secured on your property, which has very different implications. 

For the second time, Mortgage required will be attending the enormously successful Help to Buy Show in Reading.

Mortgage Required were delighted to take 50 suffers of Altzeimers and their carers on a fantastic day on the River Thames.

We are delighted to continue our apprentice programme with the arrival of our latests employees Jack and Joe

Mortgage Required are once again the title sponsor for the annual ADS Santa Fun Run held at the famous Olympic rowing lake at Dorney.

Many consider life insurance to be a mere ‘bolt-on’ to the mortgage itself but where the life insurance sum is large the selection of the right policy is worth taking some time to consider.

There have been so many changes in the Buy to Let sector, that I thought it was time for a general round up.

The 1st April 2018 will see any properties rented out in the private rented sector requiring a minimum energy performance rating of E on an Energy Performance Certificate (EPC). If you don’t have this rating, you are unlikely to be able to legally rent out your property after this date.

There are a variety of different types of protection available to you and if you have a mortgage it’s worth considering which type best suits you and your family.

Here are the costs you may incur when buying a house.

A Homebuyer’s Report is one of several different types of report that can be purchased by the buyer of a property.

Around 14.5 million UK adults have a mortgage but only 50% hold any sort of Mortgage Protection, leaving the rest at risk of losing their home if they are affected by unforeseen events…

If you own more than one property (e.g. a holiday home or buy to let) you must elect one as your primary residence for tax purposes.

Most of us need a mortgage to buy our first home and. But the types of loan available to the home buyer are wide and varied.

Whether you serve in the Army, Air Force or Navy, whether in a regular of Territorial capacity, we at Mortgage Required recognise your very particular needs and we’re here to help.

A Mortgage in Principle is something we recommend. It certainly helps strengthen a buyer’s position when they are making an offer on a property. So what is a Mortgage in Principle? 

Mortgage lenders have put together a number of criteria by which they can rank their borrowers in terms of potential risk.

Securing the right mortgage for you - on the best terms available - can be a complicated business. That is why you should use the best mortgage broker you can find.

There are several reasons why porting your existing mortgage loan might be advantageous, especially if you currently benefit from beneficial loan terms.

Capital Gains Tax (CGT), as the name suggests, is charged upon the increase in value of an asset held by an individual. It is payable only when the gain is realised (i.e. a property sold or, in many cases, transferred) by that individual.

A large part of a mortgage lender’s decision-making now comes from what are known as ‘affordability tests’ or ‘stress tests’. These calculations are based around the lender’s personal circumstances.

More than a third of all first-time buyers now rely on help from “The Bank of Mum and Dad”. According to research, parents now part-fund 34.1% of property purchases, up from 20% seven years ago.

Equity release is a way for pensioners to release money by way of a loan secured on your home or through the sale of all or part of your home.

Contrary to belief, you do not need to use a lawyer in order to write your own will. It must simply be in writing and be properly witnessed by two independent third parties when you sign it.

The Prudential Regulation Authority (PRA) is a part of the Bank of England and is responsible for the regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. 

As one of the area’s largest Independent Mortgage Firms, Mortgage Required are delighted to announce we will be exhibiting at Berkshire’s biggest ‘Help to Buy’ Home Show on Saturday 8 April.

Article 50 has been triggered/ sent / delivered and negotiations have begun. If you haven’t taken advantage of the extremely low mortgage rates on offer, now is the time to grab one as Brexit or no Brexit, the only way is up.

When buying your home one of the critical points referred to by everyone is ‘exchange of contracts’. But what is it and why is it important?

Once you have made the decision to invest in a residential Buy to Let property, it’s worth sticking to a few basic rules. This is likely to make the whole process simpler and easier to manage further down the line.

Mortgage Required are approved Help to Buy Mortgage Advisers and have helped lots of clients to buy a home through this government fantastic scheme.

The scheme works on the basis that rather than having to put together a deposit and mortgage to purchase the whole of the property, a buyer can now purchase part of the property with the other 25 - 75% of the home being owned by a third party under the terms of this scheme.

A help to buy equity loan is part of the Government’s initiative to help both existing homeowners looking to move and first-time buyers trying to get onto the housing ladder.

All of us at Mortgage Required were delighted to receive confirmation earlier this month that our head broker, Craig Head, was nominated by Nationwide’s Business Development Manager.

The Insurance giant Prudential recently carried out research which found that 25% of 2017s retirees will retire in debt. This is at its highest level for seven years.

The shared ownership and Help to Buy schemes are only available through recognised and authorised agents. Mortgage Required is delighted to announce that we are now able to offer our clients mortgages for both schemes as approved Help to Buy mortgage advisers.

Since the introduction of mortgage affordability tests the lender will ask detailed questions about the your income, employment status, age, personal circumstances, other debts and liabilities and lifestyle.

More and more lenders are agreeing to mortgages where customers have had blips on their credit profile. The main questions are, How big was the blip? How many blips do you have? and How long ago was the blip?!

Critical illness insurance usually pays out in the event that you suffer from one of a variety of serious conditions including heart attack, stroke, certain types and stages of cancer, multiple sclerosis, etc or injury

Maidenhead Council tax is a local tax to help pay for local services. These services include police and fire services, upkeep of local roads and street lighting, drainage, etc

Most lenders contribute to the re-mortgaging costs and the process is really not as complicated as people think –as long as you have a good broker acting for you.

Part of the review requires lenders to implement a financial ‘stress test’. This means that lenders will want to make sure that even if (and when) interest rates rise their borrower will still be able to pay the increased mortgage repayments.

As Landlord you inherit several responsibilities around the need to secure your tenant’s safety. One of these includes the requirement for an annual Gas Safety Certificate.

Long-term income protection is an mortgage insurance policy that is designed to cover you if you're unable to work due to injury or illness.

If you are still working, there are plenty of lenders happy to extend terms on a interest only mortgage. 

Mortgage lenders are looking for a clear picture of your finances over time. They need to see that you are regularly profitable and that the business is stable.

New research shows that 75% of borrowers could be missing out on the opportunity to pay less for their mortgage.

With banks offering tiny returns on cash savings and ISAs and the fairly recent stock market volatility still fresh in people’s minds, investing in property is still considered by many to be the best way to invest their money.

Terminal illness cover pays when the policyholder is diagnosed as having an illness which is likely to cause death in the near future. The ‘near future’ can vary but it’s usually either six or twelve months. Many life insurance policies include terminal illness cover for no additional charge.

Most of us have everything we own in our homes and the idea that it could all be lost to fire, theft of some other calamity that could otherwise have been insured is a sobering thought.

As with all tax matters, you should consider your personal tax status and that of your spouse. Whilst you may expect to be liable (or not liable) for tax in certain circumstances, personal tax status and previous behaviour might result in a different outcome.

When a company director dies, it is usual for his shares to pass to whomever inherits his shares through his will. The mechanism by which the deceased’s executor might implement this transfer will, unless otherwise stated, be set out in the company’s articles.

Equity release is a term given to the mechanism by which a homeowner can raise either a cash lump sum or a regular periodic income in return for either selling or mortgaging all or part of their home. 

It looks like the Government’s Help to Buy 2 scheme will come to an end on 1st January 2017 as planned.

A stress test is the term given to the process by which lenders assess the sustainable affordability of a loan to a buyer. Required by law to undertake such affordability tests as a result of legislation following the 2008 credit crunch and housing crisis, stress tests are there to protect the borrower (and the lender) for entering into ill-conceived or risky loan arrangements.

Sometimes, the terms life insurance and life assurance are used interchangeably but it is important to realise that they are very different products.

Nowadays, obtaining a mortgage is a complicated thing. We all have credit scores, whether we know it or not, and our chances of obtaining a mortgage offer will be largely determined by that score.

The solution for some seems to be to set up a limited company within which to purchase the buy to lets.

With ‘Help to Buy’, the Government lends you up to 20% of the cost of your newly built home, so you may only need a 5% cash deposit and a 75% mortgage to make up the rest.  To reflect the current property prices in London, from February 2016 the Government is increasing the upper limit for the equity loan it gives new home-buyers within Greater London from 20% to 40%.

A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other.

There are a variety of criteria that a mortgage lender will set before they will consider lending. Some lenders will not lend to a borrower with previous CCJs but others will, dependent on the facts. Of course, the riskier a borrower is deemed to be, the more expensive the mortgage is.

CCJs are a black mark on your credit file and can stop someone getting a mortgage or even qualifying for a mobile phone contract. The main problem with CCJs is that a lot of people simply don’t know they even have them, until they are turned down for credit.

August 2016 ushered in the lowest ever Bank of England Base rate at a staggering 0.25%. To put this in perspective, the highest Bank of England Base Rate was set at 15% during the Summer of 1990.  But why is the Bank of England Base Rate relevant to the homeowner?

It’s perhaps one of life’s ironies that most of us are keen to get on the housing ladder and yet, almost as soon as we get there, we are just as keen to get rid ourselves of the debt burden we were so keen to take on to buy our dream home.

One benefit of the current tax regime is that life cover, if taken out by the company, can be treated as an expense for tax purposes and is therefore allowable against corporation tax. 

Our brokers are professionally trained and qualified to offer you the best quality advice. We work on your behalf. You are our client and as such we owe you a legal duty of care to act in your best interests. At Mortgage Required, we are on your side, we know the market and we are here to help!

Both Payment Protection Insurance and Mortgage Payment Protection Insurance are forms of ASU. Accident, Sickness and Unemployment Insurance is usually taken when someone is concerned about how they would meet their obligations were they to be incapacitated by accident, sickness or unemployment.

The Bank of England’s Monitory Policy Committee voted unanimously to reduce the Bank of England base rate to 0.25%, in order to stimulate growth in the economy post Brexit. This is the lowest the bank rate has been in its history.

Before you change mortgage provider, if it is to obtain a cheaper deal than your existing one, consider asking your provider about their ‘product transfers’ before you commit to moving.

Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.

One of the biggest fears of any parent is that they die leaving young children. Of course, we all want to leave our children what we can in financial terms, but if they are under 18 then they will also need a guardian to look after them.

It has long been recognised that the best way to secure the right mortgage deal is to fully explore the market and what is on offer to whom. As the financial markets have expanded and matured, it has become harder for the layperson to interrogate the market completely and with the level of forensic understanding required if the best informed decision is to be made.

As a professional, responsible company Mortgage Required believe all clients should be aware of the risks associated with every loan. With this in mind we offer all customers a free protection review.

If you die without a Will in place then you are said to be ‘intestate’ and the laws of the land will decide what happens to your estate.

One of the silver linings of Brexit — for now — is that mortgage rates remain very competitive My advice on what to do now is to Remortgage to an excellent deal without delay, in case these deals  are replaced or withdrawn.

Dying without a Will is a very bad idea.. However, what if you don’t die? What if you are simply incapacitated and unable to either work and/or make your wishes known in respect of child care or the management of your assets?

A ‘sealing fee’ is sometimes also referred to as a ‘discharge fee’, ‘redemption fee’ or ‘exit fee’. The fee, when charged, is usually between £100 to £300 and is stated in your mortgage’s terms and conditions.

Whilst the legal systems of Scotland and England vary and there are some specific differences with respect to the purchase and sale of property, both systems have advantages and disadvantages.

A will is a means by which a person may set out their wishes in respect of their estate in the event of their death. It might detail the deceased’s wishes for funeral arrangements and go into as much or as little detail as required, perhaps even detailing music and a venue for the wake!

To specify exactly what is included in the sale of property in a short blog is impossible. However, for the purposes of this item, we’ll exclude mineral rights and the legal definition of Freehold and Leasehold interests and look at something more basic!

If you have anything of value to leave when you die, or you have dependents or children that are under the age of majority, then you should have a Will that appoints guardians and allocates your wealth appropriately.

If you go to an independent mortgage adviser like Mortgage Required who are not restricted to just one lender, then you will see lots of different mortgages, all with different terms.

Barclays have re-launched their ‘Family Spring Board Mortgage’ which effectively allows borrowers access to 100% mortgages.

The term ‘overpaying’ your mortgage refers to the voluntary additional payment of cash into your mortgage account over and above the agreed monthly sum.

The Bank of Mum and Dad (or as it is affectionately know at Mortgage Required – BOMAD) is now equivalent to one of the UK’s top 10 mortgage lenders and is set part with over £5bn in 2016.

Conveyancing is the name given to the field of law that specialises in the sale and transfer of land and buildings.

Until such time as all the terms of a legally binding contract have been agreed, recorded in a document and that document has been signed by both parties, then the deal is no more than a ‘gentleman’s agreement’ and has little or no force in law.

Borrowing money for a ‘buy to let’ investment is different to borrowing for your own home. The interest rate is usually higher in comparison and the deposit required is usually between 20% and 40% of the property’s value.

After the 2008 mortgage bubble and crash, mortgage companies have been under a greater duty to make sure that borrowers are able to pay their monthly payments even if mortgage rates increased significantly.

From the 1st October 2015 regulations require smoke alarms to be installed in rented residential accommodation and carbon monoxide alarms in rooms with a solid fuel appliance.

If you are a buy to let investor, you might be forgiven for feeling just a little bit picked on recently. What with the increases in SDLT (Stamp Duty Land Tax) aimed squarely at you and the upcoming removal of mortgage interest tax relief, the ‘cons’ are starting to outweigh the ‘pros’ for many investors looking for a home for their money, especially highly geared, high rate tax paying Landlords outside London’s ‘magic circle'.

If you are selling a house you will incur significant costs including the procurement of an EPC (Energy Performance Certificate), your estate agent’s disbursements, advertising and marketing costs and their sales commission, your conveyancer’s fees and their disbursements, your removal costs and any additional expenditure that might be incurred including, perhaps, all the other costs incurred by you in the purchase of your new home!

Budget 2016 - Key Points For You:

Insurance Premium Tax, Stamp Duty,  Income Tax, Capital Gains Tax, Inheritance Tax, Individual Savings Account (ISA).

On the face of it, persuading the Chancellor of the Exchequer to pay a large lump sum into your personal savings account seems like the stuff of fairytales but, after yesterday’s budget announcement, it seems that if you are currently 17 or under and will be 18 in April 2017, you will qualify to open a new ‘Lifetime ISA’ that will accrue up to £32,000 in government contributions up until to your 50th year.

As part of the house buying process, your legal representative will undertake several ‘searches’ on your behalf. The cost of these searches will be charged back to you as expenses (disbursements).

A Mortgage Indemnity Guarantee (MIG) is an insurance policy that protects lenders if the mortgage repayments cease for some reason, perhaps due to death or a homeowner being made redundant at work. The MIG is NOT insurance protecting the borrower but is there to reduce the lender’s losses as a result of mortgage default.

Rather than try to give you a definitive timeframe to buy a house, it is probably best if we give you an idea of the potential pitfalls you may encounter. This way, you are best prepared to avoid them and speed the process.

There is only one subject for me to write about this week and that’s “Equity Release.” At Mortgage Required, we get all sorts of enquiries, but never before have we had so many enquires of this nature.  It seems that so many retired people are “asset rich/ penny poor” and they are looking for a way to get their hands on some of their equity.

Unless otherwise agreed, either party may withdraw from a transaction at any time before the purchase contract has been signed by both parties (or their authorised representatives) and exchanged. At this point a deposit is normally paid in consideration of the agreement and the deal becomes legally binding on both parties in according with the contract terms.

Once a sale has been agreed, specialist legal representatives (conveyancing solicitors or licensed conveyancers) will be instructed by the buyer and seller. It is usual for the seller’s representative to raise a contract for sale of the land, provide answers to what are called ‘pre contract enquiries’, offer proof of title and set out a schedule for what is included in the sale and when the sale will take place.

On the 1st of December 2015, the Help to Buy ISA savings account was launched. Since then, at least 140,000 people have opened one. This is great news for first-time buyers, who can now earn up to 4% tax-free interest on their savings.

Yes, but unfortunately, because of the various misdeeds and over zealous behaviour of both some borrowers and some lenders in the run up to the Great Credit Crunch of 2008, it is now rather more difficult for freelancers and the self employed to obtain a mortgage offer.

If you are looking to rent out your property in Maidenhead after 1. February 2016 the UK will require Landlords to undertake ‘Right to Rent’ checks on all tenants.

An Offset Mortgage simply allows you to set the balance of a savings account you might have against the outstanding loan balance when calculating interest charged on your mortgage.

It’s been an interesting month at Mortgage Required, as we launched our 2016 campaign,” Saving Britain, one Mortgage at a time.” As well as making the staff dress up as Superheroes (yes really), we hit the road to take the message round the Thames Valley, that just like any other household bill, homeowners can also save money on their mortgage.

The house buying process can seem very long-winded and complicated but in reality it is just that so many different things need to be checked before the mortgagee will hand over the monies to the buyer’s solicitor and the buyer’s solicitor will hand over the monies to the seller.

In the past, when purchasing a property it was necessary to employ the services of a solicitor. Like many other professions, solicitors may specialise and most people only ever use a solicitor when buying or selling their home or when drafting a Will.

Home insurance may cover a variety of ‘risks’. Most standard policies will list the risks covered and crucially which risks are either excluded or treated differently.

‘Gazumping’ normally becomes newsworthy as each property boom gains momentum, as prices start to rise fast. That said, it can happen at any time.

The equity in a property is best defined as the net surplus value that remains after any secured loans against the property are deducted from the property’s market value. 

The Standard Variable Rate quoted by a lender is the interest rate that a lender chooses to apply to mortgages, typically when a customer’s fixed rate or tracker rate ends. Unlike a tracker, the Bank may choose not to follow the specific indices linked to the tracker mortgage (usually the Bank of England’s Base Rate) when adjusting their Standard Variable rate.

Despite the weather doing its best to disrupt the annual ADS Santa Fun, sponsored by Mortgage Required it was the biggest and best yet.

The Government has launched an “Own your Home Campaign,” offering various initiatives to help people onto the property ladder. 1st December 2015 sees the launch of the government’s Help to Buy ISA scheme for first-time buyers.

Anyone buying a 2nd property will see an additional 3% on their stamp duty rate from April 2016. This means that tax bill on a buy-to-let property costing £250,000 will jump from £2,500 to £8,800. 

In the UK, at the time of writing, Inheritance Tax may become payable where the value of ‘the estate’ (effectively the net worth) of an individual resident in the UK exceeds £325,000. If IHT is payable, it is usually paid out of the Estate by the Executor of the Estate or the Administrator of the Will.

As part of the Government’s stated policy of helping first time buyers into the housing market, a new initiative is launched at the end of this month.

From December 1st 2015 first time buyers can advantage of the new Help to Buy ISA scheme which gives every individual a cash boost towards the deposit on their first home.

The Building Society Association (BSA) announced that they are reviewing age limits on mortgages as more customers demand longer mortgage terms in order to keep monthly costs down. Older homebuyers may soon find it easier to get a mortgage as many lenders currently insist mortgages are repaid prior to the borower’s planned retirement dates.

A tracker mortgage is very much like any other mortgage in most ways. However, whereas the standard variable rate mortgage mortgage interest rate is set by the lender, a tracker mortgage has its interest rate set with reference to in most cases, the Bank of England’s Base Rate.

If you have a mortgage, you are required to insure your house against potential damage, subsidence, fire and other risks. You will also want to protect the value of your contents against these risks and theft.

Interest rates are so low that mortgage lenders can’t really cut them any more in order to win business. Instead of fighting it out in a rate war, providers are looking for new markets or niche areas for lending.

As the name suggest, a ‘fixed rate mortgage’ is a mortgage that has an agreed rate of interest fixed at the start of the loan. It won’t vary in line with the Bank of England Lending Rate, LIBOR or the mortgage company’s Standard Variable Rate (SVR) for the fixed rate period

According to the latest credit conditions survey, swap rates (money market rates) are falling, and mortgage lenders therefore expect interest rates to fall in Q4.

Buy-to-let is expected to see even greater falls in pricing in the coming three months, after significant drop in the cost of loans in Q3.

Her Majesty’s Land Registry is a non-ministerial Government Department, Executive Agency and Trading Fund according to the Land Registration Act 2002. “So what does it have to do with buying and selling your home”? you might ask.

How long is a piece of string? There are many variables at play when considering the ideal deposit to make your house purchase, but the primary one is most likely to be “What is the minimum deposit I can get away with to buy this house?”

This month saw Nationwide Building Society launch a range of self-funded 95% mortgages, its first since 2008.

A self-certified mortgage or ‘self-certification’ was a popular way for the self-employed to obtain a mortgage pre Credit Crunch. The process was generally reliant on an applicant being truthful in their statements in respect of personal income and it was aimed at the self-employed and people with a variable and unpredictable monthly wage packet.

Mortgage Required are delighted to have partnered with Northwood of Maidenhead, to supply mortgage advice to their clients.

Whilst a stable employment history, good salary and large deposit are all good starting points when applying for a mortgage, your application is still likely to be refused by many lenders if you have a poor credit rating.

Despite the terms you have agreed, in some cases you might be able to persuade your lender to let you delay or reduce your monthly payments for an agreed period of time. This is generally referred to as a ‘mortgage holiday’.

The Family Building Society is the brain child of the Chairman on the National Counties Building Society, and was set up specifically to “help families who can work together to use their money and their assets more successfully.

As the name suggests, an interest only mortgage requires that you only pay the interest element of your mortgage in your monthly mortgage repayment.

Mortgage Brokers’ market share is now at its highest ever level, with adviser-introduced loans accounting for 69 per cent of new mortgages in 2015 year to date, and it’s rising!

In the context of mortgage advice, a ‘Whole of Market’ broker is not necessarily able to look at all mortgages available in the UK from UK Lenders, they only need to have a panel of lenders who represent each sector of the mortgage market.

Just as all memories of the “Help to Buy” ISA announced in the last budget were fading, the Treasury has named the first six banks and building societies that will offer first time buyers said “Help to Buy ISA.” The Treasury has confirmed that the list is not intended to be exhaustive and that there is still time for other providers to join the scheme and offer the account to savers.

Bridging loans are a short-term funding option, usually required to 'bridge' a gap between the purchase of one property and the sale of another.

A recent review of Mortgage Required clients revealed that more and more customers are taking up the option of protecting their mortgage.

A transfer deed is a document used in conveyancing in England and Wales to transfer real property from its legal owner to another party, and is the document used when residential property is sold.

Where property is registered with HM Land Registry the Charge Certificate will prove the ownership or transfer of land. This includes Freehold and Leasehold Interests.

Katie Lavender one of our Mortgage Advisors has just passed her Ce-map 2 exam meaning she is only 1 exam away from becoming fully qualified.

Following Mark Carney's comments last week that base rates may rise as early as the end of this year, followed by increased press coverage on the subject, we are receiving calls daily asking "when should I sign up?"

Title deeds are paper documents showing the chain of ownership for land and property. They can include: conveyances, contracts for sale, wills, mortgages and leases.

Tim Managing Director of Mortgage Required ticked a box in his bucket list in June when with two other sailors on a 42 foot Yacht he crossed the Atlantic.

Earlier this month the Governor of the Bank of England, Mark Carney hinted that interest rates could rise as early as the end of his year.

The Financial Conduct Authority (FCA) have strict rules about consolidating debts into client’s mortgages on the basis that if you default on your car loan, the finance company will come and reposes your car, but default on your mortgage and you may of course lose your home!

Buying property as an investment has proved to be a successful and lucrative investment decision for some and here we will address some of the benefits and pitfalls those new to the market should consider.

The Chancellor has largely left mortgages alone in recent budgets, but last week he came out fighting.

These charges can add up to thousands of pounds so make sure you think carefully about how long you tie in for in the first place. We can help you find the right deal for your circumstances.

We enter a team every year in what is fast becoming a Mortgage Required tradition. The Round the Island Race was first run in 1931 with just 25 entries. It is now a firm part of the British Summer Season and Social Calendar

A remortgage is the term used when you raise a secured loan (a mortgage) on a property that either is currently free of mortgage or has an existing mortgage and you switch to another lender.

A Local Authority Search is usually submitted by your conveyancer / lawyer. The search will be submitted to the appropriate Local Authority and will ask about any details relating to planned development in the immediate area & disputes and road works that might affect the property.

By far the most dramatic and exciting way to buy a property is by auction.

Offering to be a Guarantor on a mortgage agreement should not be entered into lightly. If the borrower defaults in their payments or otherwise breaches the terms of the mortgage agreement, the lender will soon be looking to the Guarantor to step in and take over the obligations in accordance with the Guarantee Agreement.

When someone says they own their home it usually means they own a Freehold Interest in the land and buildings. Freehold (or Fee Simple Absolute in Possession to give it its proper legal definition) is a fairly extensive ownership and, subject to any restrictions or obligations placed upon your Freehold interest, such as rights of way, you are as close as you will ever get to ‘owning’ your very own ‘castle’.

One of the most important criteria is the lender’s maximum Loan to Value (LTV) ratio. So, what is Loan to Value?

A Buy to Let mortgage is a loan which, as the name suggests, is lent to the buyer of a residential property for the purposes of investment rather than personal occupation. Both loans are used to buy houses or flats but the Buy to Let mortgage is different in some subtle but important ways.

When you are considering buying property, your first call should be to a mortgage adviser. An adviser can guide you through the maze of financial products available to home buyers and ensure that you are best placed to buy the property you want on the best terms available to you.

Stamp Duty is a charge levied in England and Wales by the Government and the cost of Stamp Duty is payable by the purchaser. It is a charge levied on all property transactions over certain transactional values

The results of the election certainly left the mortgage market… well exactly where it was before the election, but with the added bonus that everyone feels we were in a period of stability.

Here at Mortgage Required, we have noticed that uncertainty over the General Election has failed to put a substantial dent in mortgage lending. My guess is that there are a few of good reasons for this.

The Chancellor took me by surprise last week when he announced the “Help to Buy ISA”in the budget. After the help he’s already given first time buyers when he adjusted the Stamp Duty thresholds last year.

Two years ago the Government launched the first phase of it’s "Help to Buy" scheme, which has now seen more than 80,000 borrowers purchase a home.

Through the first phase of Help to Buy, (let’s call it H2B1), the Government provides an equity loan worth up to 20 per cent of the value of a new build home, interest free for the first 5 years, which can be repaid at any time or when the home is sold, with the borrower putting up a 5 per cent deposit.

Its seems that every time I turn on the TV, there is someone telling me to check I have the best deal on my car insurance / energy tariff / bank account etc etc. Finding a better deal can always save you a bob or two, but the best financial switch anyone can make is the switch from a higher to a lower-rate mortgage.

As an Independent Mortgage Broker, I am a massive fan of new lenders joining the UK mortgage market, it keeps the other banks awake and forces competition.

Last week Barclays lunched the UK’s lowest ever 10 year fixed rate mortgage at 2.99%, available to anyone with a deposit of 40%, for a fee of £999. This is about 1.41% below the average mortgage rate currently being paid in the UK.

I think anyone with an interest only mortgage without a repayment vehicle, will by now have a letter from their lender, warning them to make arrangements to repay their capital.
Nowadays, banks and building societies are reluctant to give mortgages to customers unless they pay capital as well as interest, but back in the day, interest only mortgages were as common as muck!

Mortgage complaints have increased by 55 % compared with the same period in 2013, data from the Financial Ombudsman Service has revealed.

There’s nothing like a TV program on interest rates to get the Mortgage Required Office riled and ITVs Tonight program last week was no exception.  “How prepared are British homeowners for a rise in interest rates?” was the title, which looked at the impact of increased interest rates on 4 very different families.

Competition in the mortgage market intensified this week as a fresh mortgage price war erupted with a string of major lenders slashing their rates. 

Anyone in the “mortgage know” will be aware of the new affordability checks which came into effect at the end of April this year.

The changes were brought into effect following the “Mortgage Market Review (MMR), which was ordered by the government to avoid a repeat of the 2008 housing recession.

It’s been a while since I wrote about a new mortgage lender entering the mix, but the RBS funded Magellan Home Loans gained permission to trade from the Financial Conduct Authority (FCA) in 2013 and crept quietly into the market in August last year.

A credit score is basically a lender’s way of rating us and trying to determine the likelihood of us paying our mortgage each month. All Mortgage lenders, Finance Houses, Loan Companies and Credit Card Companies share information about our credit histories on the credit register.

The Royal Bank of Scotland (RBS) have introduced tighter restrictions on mortgage lending in an effort to make sure customers can afford their loans.

Well that’s the official line anyway, although personally I think there may be hidden agenda….

In response to the strength of economic recovery and increasing house prices, Mark Carney, the Bank of England’s Governor, indicated that interest rates may rise sooner than anticipated, but the “action would be gradual and limited.”

We are now well and truly into the Financial Conduct Authority’s new set of mortgage rules (Mortgage Market Review or MMR)– the last few weeks have been interesting but also somewhat frustrating.

Mortgage lenders will now have to pay closer attention to applicants spending habits and check everyone’s income in 100% of cases. Banks will be responsible for “Stress Testing” applications to make sure repayments can be met if the interest rate rises three or fourfold.

Arranging masses of Interest only mortgages seems like a dim and distant memory, but 25 years on from the endowment boom there are still around 4 million of them around.

The Bank of England Governor Mark Carney has confirmed that although unemployment is fast heading towards its trigger point of 7%, lack of growth in other sectors of the economy means the Bank of England base rate is unlikely to rise when it finally does hit 7%.

Scottish homeowners have been warned that a “Yes” vote for independence on September 18th will mean that Scotland would possibly have to create a brand new currency. This would have dramatic consequences for their monthly mortgage repayments.

Thankfully, some banks have announced a range of support for flood victims; Santander said it would offer free overdraft extensions and mortgage payment holidays to customers who have been affected by the flooding

Reading that the former English Defence League leader Tommy Robinson was last week jailed for 18 months for mortgage fraud got me thinking that it’s been a while since I have read a decent mortgage fraud story.

I know we have only just welcomed in the New Year, but with so many economic commentators suggesting 2015 as a likely time for an interest rate rise, my top tip is for borrowers to look at their mortgages in 2014, as lenders will no doubt start to eek up their rates this year.

At the end of each year I ask the Consultants to write a summary of the mortgage market over the past 12 months and predictions for the coming year.  This helps to focus the mind on the various debates / discussions they will be having with clients, who always want to know our opinions on rates and on what they are based.

I understand that many mortgage lenders are in the process of writing to borrowers who are only paying interest on their mortgages and not currently chipping away at the capital.

I was delighted to see that Accord Mortgages have entered the 95% mortgage arena, but fairly gobsmacked to find that the products don't form part of the Government’s Help to Buy scheme or require any family guarantee.

Back in the day, “Shared Equity” was considered a little down market, perhaps where one might go as a step up from renting – a helping hand onto the housing ladder.

Let to Buy tends to be seen as a Plan B – a product for reluctant landlords who have entered Buy to Let accidentally, and usually because they could not sell their previous residential property prior to buying another. Let to Buy, the conventional wisdom goes, is what you do with the house you could not sell.