September 2017 fixed rate mortgages were lowest ever at 2.17% average 850,000 home loans may revert to the lender’s standard variable rate (SVR) in next 6 months Current average SVR at 4.89% which could mean an increase of £438.06 a month on a £300,000 mortgage with 25 years remaining According to Thisismoney.co.uk around 850,000 homes could have fixed rate mortgage deals that are coming to an end over the next 6 months. This time 2 years ago saw the lowest 2 year fixed rate deals, on average, that we have ever seen in the UK and they are due to end. So those people who fail to act could s ..read more

Yes it is…kind of. There are a number of options for first time buyers to get a 100% mortgage but some form of security will still be required so read on to find out whether a 100% mortgage might be good for you. But be warned, a 100% mortgage isn’t for everyone and it is strongly advised you take professional advice before taking on something like this. What is a 100% Mortgage? The vast majority of mortgages that are available today require you, the borrower, to have a deposit of at least 5% of the purchase price of the property you wish to buy. So if you’ve got your eye on that luxury ..read more

Anybody can go online and find a mortgage by going direct to a bank or through a price comparison website like Compare the Market or Confused so why use a mortgage broker? What are the advantages of getting a mortgage broker to help rather than going it alone? Whole of Market Mortgage Broker Versus Price Comparison Websites We are constantly reminded there are numerous websites that you can visit to compare everything from insurance to mortgages and these price comparison sites are a great place to start if you want to a get an idea of what kind of mortgage you might be able to get. But ..read more

In the financial crash of 2007/2008 the term sub prime mortgage became part of the national lexicon but what exactly is a sub prime mortgage and should you take one out to fund your home purchase or remortgage? What is a Prime Mortgage? Mortgages each have different interest rates and set up costs (mortgage arrangement fees) and the way each bank assesses what rate to charge for each product is by assessing the risk of the loan. The riskier the loan the higher the interest rate and associated fees. At one end of the mortgage risk scale are prime mortgages, which represent the lowest ..read more

It is a relatively straight forward process to get a mortgage if you have a job. A lender will base their lending decision on your salary and even if you have literally just started a job then it is possible to get a mortgage based on your expected salary (there are a few conditions to meet but nothing too onerous). But if you are self employed rather than employed (if you get a payslip when you are paid which includes payments for tax and national insurance then you are probably employed) then you will not have a guaranteed income on which to base a lending decision. In this case lenders w ..read more

Yes it is…kind of. There are a number of options for first time buyers to get a 100% mortgage but some form of security will still be required so read on to find out whether a 100% mortgage might be good for you. But be warned, a 100% mortgage isn’t for everyone and it is strongly advised you take professional advice before taking on something like this. What is a 100% Mortgage? The vast majority of mortgages that are available today require you, the borrower, to have a deposit of at least 5% of the purchase price of the property you wish to buy. So if you’ve got your eye on that luxury ..read more

What is a Home Mover or Moving Home Mortgage? A home mover mortgage (sometimes called a moving home mortgage) is the name given to the type of mortgage that people use if they are selling a property in order to buy a new home. As opposed to a first time buyer mortgage which is the type of mortgage that people use if they do not already have a mortgage. It can sometimes be called a second mortgage but it should not be confused with a second charge mortgage as that is a second charge mortgage attached to your exisiting property and not a mortgage to buy a new home. Why Would You Need a ..read more

What is a Home Mover or Moving Home Mortgage? A home mover mortgage (sometimes called a moving home mortgage) is the name given to the type of mortgage that people use if they are selling a property in order to buy a new home. As opposed to a first time buyer mortgage which is the type of mortgage that people use if they do not already have a mortgage. It can sometimes be called a second mortgage but it should not be confused with a second charge mortgage as that is a second charge mortgage attached to your exisiting property and not a mortgage to buy a new home. Why Would You Need a ..read more

Oxford has long been one of the most desirable places to live in the UK if not the world and property prices reflect this fact so how does a first time buyer enter the Oxford property market and find a home to buy that fits within their budget? Read on to learn some hints and tips on making your first time buyer mortgage go as far as it possibly can. Understand Your Budget Before you waste any time looking at properties you can’t afford it is essential you get an exact idea of how much you can afford to spend on your shiny new Oxford home. There’s no use spending all your Saturdays looki ..read more

Are you a self employed contractor looking for help with a mortgage? Read my handy guide which will explain what a contractor mortgage is, how to get one and what you can do to make sure you get the best contractor mortgage deal. What is a Contractor Mortgage? As a very loose rule of thumb, most mortgage lenders will lend around 4 to 4.5 times a person’s salary and when that person is employed (paying through the PAYE tax system) then the lender will base their decision on the employment contract so even if someone has just started a job it is possible to secure a mortgage based on the s ..read more