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Hot Topics
- I Am Self-Employed. Can I Get a Mortgage?
- Whilst many high street lenders will exclude them our mortgage partners specialise in finding the best deals around for the self employed
- What Happens If Interest Rates Change?
- If you have some form of fixed interest rate mortgage you will be unaffected by changes in interest rates. Otherwise you can expect a change in the rate of interest charged on your mortgage.
- What Happens If I Can’t Keep Up My Repayments?
- It is very important that if you are having problems meeting your mortgage repayments, you talk to your mortgage lender straight away.
- What are Variable Rate Mortgages?
- A variable rate mortgage is when you pay a standard variable rate (SVR) that changes in line with the Bank of England's base rate. The SVR is usually between 2% and 4% higher than the Bank of England's base rate, but this will vary from lender to lender.
- I Have Been Turned Down For A Loan Or Credit Card, Will I Still Be Able To Get A Mortgage?
- If you have been turned down for a credit card or loan, then you need to find out why your application was rejected before you apply for a mortgage.
Can I Get a Mortgage With A Group Of Friends?
You are allowed to get a mortgage with up to three friends in the same way that you are allowed to get a mortgage with a partner – an idea that is appealing to more young professionals at the moment.
How much you will be able to borrow will depend on the lender, however there are mortgage lenders out there that will offer to lend three times the salary of each applicant.
Getting a mortgage in this way allows young professionals who cannot afford to buy alone, an opportunity to get onto the property ladder. However, it is very important that you and your group of friends are very clear on what will happen if one of you wants to move out, or one of you dies and your share is left to the next of kin. It may mean that the house needs to be sold, and that could happen when house prices are not as buoyant.
Another disadvantage is that if one of you cannot meet your share of the monthly mortgage payments, the others will still be liable to provide the full amount. And if one borrower has credit problems and has arrears on credit cards or loans, the credit records of others sharing the mortgage will also be adversely affected.
- How Does A Joint Mortgage Work?
- What happens during the mortgage application process ?
- How long are mortgages usually for ?
- What happens if i want to move home ?
- What happens if i cant keep up the repayments ?
- What happens if interest rates change ?
- Will I Have To Pay An Arrangement Fee And How Much Will It Be?
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