Mortgage Information

 

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. 

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. 

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. 

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.

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.

Loan to Value refers to a ratio between two figures, namely the amount of money lent (the mortgage) and the value of the home you are buying (the value).


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

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.

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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