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- What Happens If I Have No Proof Of Income?
- If you are self-employed and cannot provide any proof of income – you will have to self-certify your income. In most cases you will need to provide an accountant’s certificate as proof of income.
- What Happens If I Want To Move Home?
- Moving home is basically the same as moving into your first home, in mortgage terms. You are free to find yourself another mortgage with either your existing lender or another lender – and can shop around for the best deal on the market.
- What Happens If I Can’t Keep Up My Repayments?
- It is very important that if you are having problems meeting your mortgage repayments, you talk to your mortgage lender straight away.
- What Are Flexible Mortgages?
- Generally, people rebroke their mortgage deal once every five or six years. They also may change their mortgage lender at the end of a discounted or fixed period. Chances are in that in the time between their last remortgage, the mortgage market will have changed a great deal.
- 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 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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