Mortgage Information

 

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.

The Help to Buy Scheme was set up by the government to help people with little deposit, wanting to buy a home. It’s available to those that don’t own a home and are in the market for a new build home.

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 are lots of terms thrown around the housing market but one that regularly comes to the fore, especially in a good market, is Equity Release.

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.

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.

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. 

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.

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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