Hot Topics

Income Multiples Explained

If you are an employee, the majority of mortgage lenders will calculate the maximum size of a mortgage loan based on your salary.

What Happens During The Mortgage Application Process?

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 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.

Interest Rates Explained

APR is used to identify the true cost of borrowing and to provide you with a method of comparing the true costs of a loan.

What Happens If There’s A Shortfall At The End Of My Mortgage Term?

There has been a lot of publicity lately about endowment policies that have not been sufficient to pay off the mortgage at the end of the term. As an investment vehicle for new customers, they are virtually obsolete, as with a fluctuating economy there is no guarantee that the resulting balance will cover the mortgage requirements.