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- 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.
- What Happens If We Have A Joint Mortgage, But One Of Us Wants To Leave?
- This area of the law is an extremely complex one – and it all depends on who is the legal owner of the property. You can read about this matter further on http://england.shelter.org.uk/advice/advice-469.cfm
- Refinance Mortgage
- What is a Refinance Mortgage?
- What Are Capped Rate Mortgages?
- A capped rate mortgage puts a limit on maximum interest payable on your mortgage over a predetermined period. If the mortgage rate is BELOW the cap the borrow will enjoy the lower interest rate available.
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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