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- What Will The Initial Costs Of Buying A House Be?
- Before you actually move into your new property – you will have to pay a series of initial costs to cover the following:
- Company Directors
- Are you a company director and looking for a mortgage, or remortgage to refinance your home? Our mortgage partners can arrange a mortgage for directors and the self employed, even those with less that two years accounts & low profits.
- The Mortgage Glossary
- APR - This stands for Annual Percentage Rate and should be used to compare the costs of credit.
- What Are ISA Mortgages?
- If you take out an intrest only mortgage your lender will expect you to put in place a ‘financial vehicle’ capable of repaying your mortgage at the end of the mortgage term.
- Equity Release
- Equity Release is a means of using the value of your home to receive either a lump sum of cash or regular monthly instalments.
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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