Mortgage Information

 

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.

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 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.

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.

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.

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...

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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

Call: 01628 507477