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When can you Remortgage your home?

While it is true that you can remortgage your home anytime you want, there is really not much benefit to it if your only reason for doing so is to switch from one mortgage lender to another. Timing is crucial to ensure you get the most out of a new mortgage deal. So, what are the things to consider when remortgaging? In the past, people tended to pay off their mortgage loan using the same lender all throughout the life of the mortgage. These days, this practice is infrequent indeed. It is now more common to remortgage than to stay […]

Is Interest Only Mortgage A Good Idea?

Interest only mortgages have made a comeback in recent years. This loan type was popular some years ago but became less available due to the financial crisis of a decade ago. Because the housing market has performed considerably better since then, mortgage lenders are now confident to offer interest-only loans to borrowers. So, is interest only mortgage a good idea? To answer this, lets’s first answer this question: What is an interest only mortgage? An interest only mortgage is designed to offer lenders low monthly payments that reduce the interest alone. Since you are not paying off the principal amount […]

Get a Mortgage with a Bad Credit Score

Taking back control of your finances can be difficult at times especially after going through some stressful life events. When your spending goes out of hand, and you have poorly managed debts, your credit rating is bound to suffer. A poor credit rating will reduce your capability to get the lender’s approval for products like mortgages. When you are in the market for a home, you might feel discouraged and think it is impossible to get a mortgage from any lender. However, this is far from the truth. Even if you have low credit scores, it is still possible for […]

How Do I Consolidate Your Loan Into a Manageable Monthly Payment?

Let’s face it, every person has at least one debt being paid off. In fact, if you have several debts you are paying off all at once, you are no different from a majority of people in the country. Unfortunately, managing several payments can become overwhelming eventually, however, there are options which can help you consolidate your loan into a manageable monthly payment. A Debt consolidation mortgage is one of these options. Basically, what a debt consolidation does is to pay off several debts by taking out another loan. You will then pay off what you owe the lender through […]

Home Improvements For The Best Return on Investment

Owning a home can become a money pit if you’re not careful. With mortgage payments and maintenance costs, sometimes owning a home may not appear to be the best investment. To counteract this, you can make additions and changes that can add to your home’s value and later on pay off, come the time you decide to sell or remortgage. UK residents spend billions home improvements. and it is worth ensuring that the money spent will increase the value of the home. How can you ensure that the money you are putting on improving your home goes to the right […]

Do Debt Consolidation Mortgages Hurt Your Credit?

Having some form of debt is part of everyone’s life. In many ways, your ability to manage debt becomes advantageous as it gives financial institutions confidence in your ability to pay. Hence, with a good credit score comes better borrowing opportunities. Managing debt is no easy task. If things get out of hand, you may end up in more hot water than you were in initially. If you are having trouble with multiple debt payments, you may consider a debt consolidation option to manage your obligations. What is debt consolidation? Debt consolidation works by taking out a new mortgage to […]

When should you remortgage

Remortgaging has become an increasingly popular money-saving approach amongst homeowners who are looking for better rates than what their current and respective deals are. Because mortgages can often put a sizeable dent in the bank, it’s not just an option that should be considered especially by those who can ill-afford the existing repayments or perhaps need the cash value that is currently locked within the property. As effective as remortgaging can be to save money and reduce overall expenditure in the long run however, the desired results that it can produce depends on knowing exactly when to pursue it. It […]

Percentage deposit needed for a buy to let mortgage

It’s common knowledge that learning all about residential mortgages is essential if you’re going to be purchasing a property to begin with. However, that isn’t the only type of mortgage out there – there is also the Buy to Let mortgage to contend with. The main difference between an ordinary mortgage and Buy to Let is the fact that this type is for landlords who purchase a property with the intention of renting it out to tenants. This is the main reason why it’s important to be specific with your broker when it comes to the properties that you’re purchasing. […]

What is the best mortgage for a first time buyer

So you’ve finally decided to purchase your very first home. This is often an exciting – and nerve wracking – milestone because aside from the home itself, you need to decide on a proper mortgage deal. There are just so many out there that it can be overwhelming, with most simply looking to strike a deal with the lowest rates. Unfortunately, purchasing a mortgage for a first time home isn’t that simple, and it could lead to regrets down the line. So, what is the best mortgage for a first time buyer? While there is no one size that fits all, […]

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