Mortgage Information

 

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.

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.

 
 
 
 

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