Mortgage Information

 

If you are in the market for your first home you may well have heard people talking about LTV (or Loan to Value) and wondered just what it means.

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.

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...

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.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be £399.

Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at www.fca.org.uk.

The Financial Ombudsman Service is an agency for arbitrating on unresolved complaints between regulated firms and their clients. More detail can be found on their website: www.financial-ombudsman.org.uk