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Hot Topics
- 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:
- How Much Deposit Do I Need?
- As a general rule of thumb, you need to make a deposit of about 5 – 10% of the total amount you are borrowing.
- How Do I Switch Mortgages?
- Switching mortgages (remortgaging) has been made very easy by the industry, in reaction to the fact that most people remortgage their homes on a regular basis i.e. every 5 years on average.
- Low Setup Cost Mortgages
- When you apply for a mortgage and to buy a property, there are certain initial costs that are, on the whole, unavoidable.
- What Happens If I Have Bank Defaults?
- If you have failed to meet payments on a credit agreement such as secured loans, unsecured/personal loans, credit cards, store cards or car finances etc, or you have failed to comply with your lender’s requirements, you will be described as having 'defaulted'.
How Much Is The Valuation Fee?
The Valuation fee covers the expense of the mortgage lender visiting your prospective property to ensure that it is worth what you are intending to pay.
This is to make sure that if you default on the mortgage and they have to sell the property, they will get their money back. You will not usually be able to see the results of the survey, and many lenders also have a non-disclosure clause, so you can't sue them if their surveyor has valued the property incorrectly.
The survey will not cover you in the event of any structural or other faults, it is purely a valuation depending on market value. If you have any doubt as to the state of the property you will need to get your own survey done in addition, which you will have to pay for.
- What Happens If I Am Refused A Mortgage?
- What is a remortgage ?
- How Is Interest Calculated On a Mortgage?
- What Will The Initial Costs Of Buying A House Be?
- How Is Interest Calculated On a Mortgage?
- Can I Take A Break From Making My Mortgage Repayments?
- What happens if i cant keep up the repayments ?
- How Do I Prove My Income?
- What Exactly is a Mortgage?
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