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- Do I Need a Guarantor?
- If your lender is concerned about your ability to meet your mortgage commitments, they may ask you to provide a Guarantor.
- How Do I Prove My Income?
- When you apply for a mortgage you will normally have to provide proof of income. However, there are mortgages available, called Self-Certified mortgages, where this is not necessary.
- 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 is a Fixed Rate Mortgage?
- A loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate.
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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