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Hot Topics
- What is a Mortgage in Principle?
- A Mortgage in Principle is a conditional offer made by a mortgage lender to verify that they will ‘in principle’ give you the mortgage loan you have discussed with them.
- How Is Interest Calculated On a Mortgage?
- Interest is charged in different ways depending on what kind of mortgage you have.
- Unusual Properties
- What happens if I have an unusual property?
- What Are Buy To Let Mortgages?
- A buy to let mortgage is an excellent opportunity to cash in on the property boom at the moment – because while many homeowners can afford a 2nd home, there’s also a booming market for those who cannot afford to get a mortgage, and need to rent. Find yourself a good location and reliable tenants and your monthly repayments on your mortgage will be covered by their rental yield.
- Right To Buy Mortgage
- What is ‘Right to Buy’?
Can I Take A Break From Making My Mortgage Repayments?
The ability to take a break from mortgage repayments is a feature of the Flexible, Current Account and Offset mortgages.
You also have the freedom with an ISA mortgage to have payment breaks, as ISA’s allow you the flexibility to save as and when you like.
If you would like or need a break from your mortgage repayments, and your mortgage does not have the inbuilt flexibility to allow you to do so - you will need to contact your lender to see if you can come to an arrangement.
If you are granted a break - you will need to increase your subsequent payments to make up for the lost capital, so that you are back on track afterwards to pay the mortgage off at the end of the term.
Always discuss a payment break with your mortgage lender first - never cancel your direct debit without any communication.
- How Does A Joint Mortgage Work?
- How Do I Switch Mortgages?
- How Do I Prove My Income?
- What happens if i cant keep up the repayments ?
- How Much Is The Valuation Fee?
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