Category: Mortgages

7 things to consider when choosing your mortgage

Whether you’re a first-time buyer or already a homeowner, choosing the right mortgage product for you is important. It could save you money as well as ensuring your mortgage fits your life plans. However, with hundreds of mortgage products to choose from and an array of lenders, how do you know which is right for you? These seven questions can help narrow down your search. 1. Do you want a repayment or interest-only mortgage? The first...
read more

6 reasons to use a mortgage broker

When you’re moving home, it comes with a lot of expenses and you may be looking for ways to reduce costs. However, paying a mortgage broker to work on your behalf can add value and mean you save money over the term of your mortgage. The mortgage market can seem complex at any time, but given the current situation, a mortgage broker is more important than ever. Following Covid-19 restrictions, UK mortgage applications reached a 12-year high and...
read more

How the surge in house prices could affect securing a mortgage

House prices have reached a record high following the introduction of the Stamp Duty holiday and viewings now being allowed after a temporary ban due to Covid-19. The Halifax House Price Index reports house prices have increased by 5.2% year-on-year; the strongest growth since 2016. Despite current economic uncertainties, the average house price is now more than £245,000. This is the highest ever average recorded by Halifax. This rapid...
read more

Older borrowers facing challenges securing mortgages

If you’re in retirement and have mortgage debt, research indicates it can be far more challenging to secure a mortgage. You may be forced to pay higher interest rates without a new deal, placing further pressure on your finances. It’s not uncommon to still be paying off a mortgage after retirement. And as the average age of first-time buyers is gradually rising, it’s a trend that’s expected to continue. In fact, in 2018, around a fifth of...
read more

Rise in flexible working could affect the housing market

The Covid-19 pandemic is expected to be the catalyst for significant workplace changes, including more flexible working options. It’s a trend that could affect the housing market as aspiring buyers shift their priorities. When searching for a home, ease of getting to work has long been a priority for buyers. Sellers with properties that have benefitted from excellent transport options or are located in commuter towns have benefitted from rising...
read more

5 things to consider before taking on a second mortgage

Are you thinking about taking on a second mortgage? Perhaps you want to purchase a holiday home for your family to enjoy, or maybe you want to invest in the Buy to Let market to provide an income in retirement. There are plenty of reasons why you may want a second mortgage, but it’s a big commitment that needs to be carefully assessed too. It’s easy to see why a second property can be attractive. Property prices have soared in recent decades...
read more

LTV and what it means for your mortgage

When it comes to finances and mortgages, language can be filled with jargon and acronyms. If you’re looking for a mortgage product, whether you’re a first-time buyer or stepping up the property ladder, you’ve probably come across LTV when searching. While it’s easy to overlook, it’s an important part of getting a competitive deal. What is LTV? LTV stands for loan-to-value. It refers to how much you’re borrowing through a mortgage in...
read more

What does the coronavirus mean for my mortgage?

Millions of Brits have faced losing their jobs or a reduction in pay as the coronavirus pandemic has forced businesses to take action. Some firms have been forced to close due to the nationwide lockdown, whilst others will have reduced working hours or laid off staff to minimise losses during uncertain times. For some, it may mean struggling to keep up with usual outgoings, such as mortgage repayments, but steps have been taken to offer...
read more

7 tips for securing a mortgage if you’re self-employed

Millions of people are now self-employed, and it could provide more flexible opportunities for those that are traditionally employed. But, as your income may fluctuate, it can be more difficult to secure a mortgage from high street lenders. If this is something you’re struggling with or have concerns about the future, there are things you can do to improve your chances. More than 4.8 million people are self-employed in the UK. This accounts for...
read more

6 areas where a mortgage adviser can add value

Taking out a mortgage is a big step. Whether it’s for your first home or as you’re moving up the property ladder. With the length of mortgage increasing and house prices rising considerably over the last few decades, getting the right mortgage is essential. It could save you money and come with other benefits. You may be thinking of going down the DIY route when choosing a mortgage. But there are reasons why choosing to work with a mortgage...
read more