Saving a deposit to buy a home can take a long time, but there are ways you can speed up the process. One of those is to use an Individual Savings Account (ISA) that’s designed for homebuyers so that you can receive a free 25% bonus from the government.
The choice between a newly built or older home is a personal one, and there are advantages and disadvantages on both sides. To help you decide, here are some of the major factors to consider.
With the coronavirus pandemic affecting not just the nation’s health but our incomes, many people are concerned about how they’ll keep up with monthly costs like rent and mortgage payments. Whether you’re a homeowner or renter, we have some information that may help.
Buy-to-let property investments can still be an attractive investment but you need to understand exactly what’s involved, remember making a profit isn’t guaranteed. The buy-to-let sector is also amidst a period of considerable change and controversy, with many new regulations, tax changes and legislative reforms to consider.
Your mortgage is likely to be one of if not the biggest expenditure of your household, and most people would struggle to pay if they were unable to work, putting them at risk of losing their home.
Saving a deposit for your first home isn’t always easy, so you may think that buying a home without a deposit sounds unrealistic, but a Family Springboard Mortgage could make it possible.
High street lenders tend not to offer mortgages to the self-employed, contractors and freelancers without considerable paperwork and delay, so finding the right mortgage lender for your circumstances can be daunting.
Don’t be disheartened if you have been turned away by high street banks and lenders. It may be possible to get a mortgage with bad credit, although you’ll probably pay higher interest rates and you may need to come up with a larger deposit.
After you’ve made an offer on your new property, but before you’ve signed the contracts, it is usually advisable to appoint a qualified surveyor to look at it and identify any major repairs or alterations needed. There are various survey options available with different levels of detail.
Overpaying on your mortgage can cut down the time it takes for you to repay the loan, and therefore the amount of interest you pay in total. If you’re beyond an introductory deal and are paying your lender’s standard variable rate (SVR), you can usually overpay by as much as you want.
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