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Hot Topics
- Income Multiples Explained
- If you are an employee, the majority of mortgage lenders will calculate the maximum size of a mortgage loan based on your salary.
- 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 There’s A Shortfall At The End Of My Mortgage Term?
- There has been a lot of publicity lately about endowment policies that have not been sufficient to pay off the mortgage at the end of the term. As an investment vehicle for new customers, they are virtually obsolete, as with a fluctuating economy there is no guarantee that the resulting balance will cover the mortgage requirements.
- Information For 1st Time Mortgage Buyers
- Your first mortgage will be the most significant financial undertaking of your life so far, but how exactly do you go about getting a mortgage?
- Right To Buy Mortgage
- What is ‘Right to Buy’?
How Much Deposit Do I Need?
As a general rule of thumb, you need to make a deposit of about 15 – 30% of the total amount you are borrowing.
The more you can give as a deposit, the more favourable your mortgage terms will be, as your loan will not be perceived to be as much of a risk. This means better interest rates, and in general, because of the size of your deposit you will not have to pay as much interest back.
If you cannot make a deposit, you will need to get a 100% mortgage ( currently not available ). These are harder to come by and the interest rate will not be favourable, you may also find that you have to provide a Guarantor to satisfy the lender’s concerns that you might not be able to meet your mortgage commitments.
- What Happens If I Am Refused A Mortgage?
- What Exactly is a Mortgage?
- How Is Interest Calculated On a Mortgage?
- What happens if i want to move home ?
- What are redemption penalties ?
- Can I Get a Mortgage With A Group Of Friends?
- Will I Have To Pay An Arrangement Fee And How Much Will It Be?
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