Shared Ownership Scheme Explained
The Shared Ownership Scheme has been around in various forms since the 1980s. It allows people who can’t afford to buy a home to partly own one instead and work towards full ownership over time. Around 150,000 households in England currently use the Shared Ownership Scheme and it will continue to run until 2026 in […]
Deposit Unlock Scheme Explained
The Deposit Unlock Scheme was initially launched in 2021 in the UK to try to fill the gap when the Government’s Help to Buy Equity Loan Scheme ended. Unlike most property buying schemes, this scheme was implemented by mortgage lenders and home builders rather than the Government. The Deposit Unlock Scheme helps First Time Buyers […]
95% Mortgage Guarantee Scheme Explained
The 95% Mortgage Guarantee Scheme was initially launched in 2021 to encourage lenders to bring high loan-to-value mortgages back to market following the pandemic. These products allow buyers with a deposit of as little as 5% to purchase a home, so the scheme may be helpful if you’re struggling to save a large deposit. Over 41,000 […]
How Much Will My Mortgage Go Up if Interest Rates Rise?
Mortgage rates have been particularly volatile in the UK over recent years. The Bank of England increased the base rate to try to get a handle on inflation, which caused mortgage rates to soar. Understandably, this has created anxiety for many homeowners, who worry that any further increase could push them over the edge. As […]
Buy To Sell Mortgages Explained – How to Make Money Flipping Houses
Flipping houses in the UK can be an exciting and rewarding way to make money. There are inherent risks to be aware of, but if executed correctly, and assuming there are no prolonged downturns in the property market, it can make for a profitable career or side hustle. As with any type of property investment, […]
Can I Get a Buy To Let Mortgage as a First Time Buyer?
Are you thinking of buying a rental property in the UK before you buy your own home? Many people wonder whether it’s possible to get a Buy To Let mortgage as a First Time Buyer. The good news is that it is possible with the right lender as long as you satisfy their lending criteria. […]
What is CheckMyFile and is it the Best Way to Check My Credit Score?
It’s recommended to keep an eye on your credit score so you can stay up to date with and improve your credit position and correct any mistakes that could cause problems. This is especially true if you’re about to get a mortgage or remortgage. Your credit score is one of the deciding factors for lenders, […]
Should I Get an Interest-only Mortgage or a Repayment Mortgage?
Whether you’re buying your first home or remortgaging, you may be wondering whether you should get an interest-only mortgage or a repayment mortgage. Each option carries its own set of benefits and drawbacks, and the choice you make could have a massive influence on your monthly payments, financial flexibility, and long-term financial situation. Although interest-only […]
What is an Early Repayment Charge and When Do I Have to Pay It?
If you’ve decided to pay off your mortgage early or remortgage before the end of your fixed-rate period, you may have been asked to pay an Early Repayment Charge (ERC). This may have been a bit of a shock, but you’re not alone. Most mortgage contracts enforce some kind of ERC if the borrower decides […]
Should I Get Critical Illness Cover or Life Insurance?
Getting Life Insurance is one of those things that most adults know they need to do at some point, much like making a Will and Lasting Power of Attorney. If you’ve made the choice to protect your family with Life Insurance, you may be wondering if you need to get Critical Illness Cover (CIC) as […]
