Catch-up with what’s been going on in the news on everything from interest rates and mortgages to updates on the housing market and the latest from the Bank of England.
What are my mortgage options if my circumstances change?
No-one can foresee what will happen in the future, but you do not need a crystal ball to see that a change in your financial circumstances may affect your ability to make repayments on your mortgage. Firstly, let’s take a look at what you may be able to do if things have changed for the... Read more
How can I finance a house extension?
Are you looking to add an extension, convert your loft or even dig beneath your property to create more space? You are not alone. Five times as many homeowners are opting to stay and upgrade than move to another property1. Increases in planning applications over the last five years reveal popular ways of adding more... Read more
Can filling out a tax return late affect my mortgage application?
Over 5.5 million UK taxpayers have less than a month to submit their Self-Assessment tax return. The deadline is 31 January and HMRC has warned that a penalty will apply for those who do not meet the deadline. The tax authority has said that millions of taxpayers are at risk of an immediate £100 fine... Read more
Schemes for first-time homebuyers and existing homeowners
If you are finding it a bit of a struggle to get onto or move up the property ladder, do not give up on your plans just yet. There may be government homebuyer schemes that could help you: Help to Buy: Equity loan scheme (England version, due to end March 2021) This homebuyer scheme is... Read more
Is this the beginning of the end for so-called ‘loyalty penalty’ charges?
You would probably assume that most businesses would reward their most loyal customers by giving them the best deals. Yet the opposite is often true, with many reserving their most attractive offers for new customers whilst leaving the existing ones with uncompetitive rates. This has become such a common practise that it has prompted Citizens... Read more
What is an offset mortgage and is it for me?
An offset mortgage can help you to save money on your mortgage by enabling you to either shorten the term so that you become mortgage-free sooner than you would normally be, or by reducing the amount needed for your monthly repayments. We take a look at how they could save you thousands of pounds. How... Read more
Gifted deposits: What are they and what do I need to know?
A gifted deposit is an amount of money that is typically given by one member of family to another (but can be from anyone from a friend to an employer) with the aim of forming all or at least part of the money needed for a deposit on a home. This sounds like a straightforward... Read more
What is the best mortgage term for me?
A ‘term’ means the length of time you spread your loan repayments over. When people are looking for a mortgage, many don’t realise there are other options than the ‘standard’ 25 year term. In fact, very often this is the ‘go to’ term for many mortgage providers when discussing options with potential customers. While for many... Read more
The 7 benefits of getting a mortgage via a mortgage broker
So, you’re looking for mortgage deals to help you buy a property, but with so many mortgage companies and mortgage lenders out there, it can be hard to know where to start. Or, perhaps you feel it’s fine to do without a mortgage broker because you’re focussed on trying to save money. After all, there... Read more