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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 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.
- What Is A Mortgage Indemnity Guarantee (MIG) And Will I Have To Pay It?
- The Mortgage Indemnity Guarantee is also known as a Mortgage Indemnity Premium or High Lending Fee. It protects the lender against the risk of you defaulting on your mortgage debt.
- 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
- Where Can I Buy a Mortgage?
- 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 is a Mortgage in Principle?
A Mortgage in Principle is a conditional offer made by a mortgage lender to verify that they will ‘in principle’ give you the mortgage loan you have discussed with them.
If you get a mortgage in principle before you start looking for a house, it will speed up the process a lot. It means that when you find your chosen home, you’ll be able to get the mortgage quicker and hopefully win the property race!
Applying for a mortgage in principle is similar to the final mortgage application process – you still need to consider and choose what type of mortgage you want and shop around to find the mortgage lender that will offer you the best deal. From the information you provide (earnings etc) the lender will make you the offer of a mortgage in principle – it is only when you are applying for the actual mortgage that you will need to provide proof of earnings and other necessary documentation.
- How long are mortgages usually for ?
- What happens if we have a join mortgage but one of us wants to leave ?
- What if i die before my mortgage is paid off ?
- What are redemption penalties ?
- Is there any way to lower my repayments without switching mortgages ?
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