Hot Topics
- What Happens During The Mortgage Application Process?
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The mortgage application process, once underway, does not take very long. Once you have decided to go with a certain lender and signed a purchase contract, the lender will run a full credit check verifying your income, liabilities and your ability to repay the loan.
- What Is Conveyancing?
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Conveyancing is the name of the legal process of transferring ownership from the seller to the buyer.
- Where Can I Buy a Mortgage?
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Many, but not all financial services companies offer mortgages. If you are looking for a mortgage the traditional approach is to speak to you bank or a building society. However, you are most likely to find the cheapest deals by speaking to a Mortgage Broker.
- What Happens If I Can’t Keep Up My Repayments?
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It is very important that if you are having problems meeting your mortgage repayments, you talk to your mortgage lender straight away.
- What are Variable Rate Mortgages?
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A variable rate mortgage is when you pay a standard variable rate (SVR) that changes in line with the Bank of England's base rate. The SVR is usually between 2% and 4% higher than the Bank of England's base rate, but this will vary from lender to lender.
What Is Conveyancing?
Conveyancing is the name of the legal process of transferring ownership from the seller to the buyer.
This is always carried out by a solicitor or licensed conveyancer, and when your offer on a property has been accepted, the seller's estate agent will need your solicitor's details so they can carry out the conveyancing process.
You have to pay all the solicitor’s costs, so before agreeing to use a particular solicitor, it is a good idea to obtain quotes from a number of solicitors to decide which firm you wish to use. You are perfectly within your rights to do this, as the procedure can be quite expensive, and shopping around is easy, simply ring up three or four solicitors for a quotation, or look on the internet and get an online quote.
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