What Is a Mortgage in Principle? April 22, 2024 Table of Contents What Is a Mortgage in Principle? You may have wondered if you’re a first time buyer how people can make an offer on a property before they’ve got a mortgage. This is where a ‘mortgage in principle’ comes in, which essentially acts as a guideline of how much mortgage you could borrow. A mortgage in principle is also known as a “decision in principle” or “agreement in principle (AIP).” It’s a crucial first step before you apply for the full mortgage, as it also gives you a clearer idea of what properties you could ..read more

Save for a house deposit March 25, 2024 Table of Contents In the UK, saving for a deposit is often the biggest obstacle to buying a new home. With average house prices reaching £284,691 in December 2023, putting together even a 5-10% deposit can be a significant challenge for many potential buyers. Sadly, even if you reach affordability for a mortgage, not having the funds for the deposit can stand between you and getting your first home.  Saving for a deposit? We can help you get there faster! There are lots of ways to save for a deposit. Here are some tips on saving for ..read more

How to Improve Your Credit Score in 2024 February 9, 2024 Table of Contents What is a credit score? A credit score is what is used to define whether you are a responsible borrower of money. You’re essentially ‘scored’ on your ability to manage credit repayments, and how much money you borrow. Your credit score can significantly impact your ability to obtain credit, such as loans, credit cards, mortgages, and more, along with the interest rates and terms offered. A good credit score is extremely helpful when applying for a mortgage, as lenders feel more confident lending to a borro ..read more

Choosing between a 2 or 5 year fixed mortgage January 28, 2024 Table of Contents If you are looking for a new mortgage or planning to remortgage your home in 2024, you may be wondering whether to choose a 2 or 5 year fixed mortgage. Fixed mortgages offer the security of knowing your monthly payments will not change, regardless of what happens to the Bank of England’s base rate, which influences the mortgage rates lenders offer. However, fixed mortgages sometimes also come with some drawbacks, such as higher interest rates, early repayment charges, and less flexibility.  In thi ..read more

Why use a Mortgage Broker? November 15, 2023 ReviewsWe are Newhomes, your friendly and professional mortgage broker. We know that getting a mortgage can be a daunting and confusing process. There are so many options and factors to consider, such as interest rates, fees, terms, features, and benefits. How do you know which one is right for you? That’s where we come in. We are a leading mortgage broker in the UK, with over 27 years of experience and thousands of happy customers. We can help you find the perfect mortgage for your dream home and make the process as ea ..read more

How to Remortgage on Help to Buy 2023 July 10, 2023 A Step-by-Step Guide for First-Time Homeowners If you have purchased a new build home through the Help to Buy: Equity Loan scheme in the UK,  have you considered your next steps when it comes to remortgaging? In this guide, we will walk you through the process of remortgaging on Help to Buy, providing you with all the key information you need to make an informed decision. Understanding the Help to Buy: Equity Loan Scheme The Help to Buy: Equity Loan scheme was a government-backed initiative designed to assist first-time buy ..read more

How to buy your dream home with shared ownership in the UK July 7, 2023 If you are looking for a way to get on the property ladder in the UK but can’t afford to buy a home outright, shared ownership might be the solution for you. Shared ownership is a government-backed scheme available in England, Wales, Scotland, and Northern Ireland that allows you to buy a share of a property and pay rent on the rest. This scheme is particularly beneficial for first-time buyers and those with a smaller deposit. In this blog, we will explore shared ownership in more detail and guide you through the p ..read more

How Much Is My House Worth? June 30, 2023 Free Online Property Valuation If you’re thinking of selling your home, making home improvements, or simply curious about your current home value, you might be wondering how to find out how much your house is worth. Knowing your home’s value can help you plan for the future and make informed decisions. A quick and easy way to get an estimate of your home’s value is to use a free online property valuation tool, such as Zoopla or Rightmove. These tools use data from recent sales of similar properties in your area to give you an indication of how ..read more

Mortgage and Protection Advisor nominated for the Outstanding Newcomer Award 2023 June 27, 2023 Meet Hannah, one of our amazing Mortgage and Protection Advisors at Newhomes. Hannah has been nominated for the Outstanding Newcomer Award at the Health & Protection awards 2023. Hannah is one of our star performers and has been with us since April 2018. Hannah’s journey at Newhomes has been nothing short of extraordinary. She started as an administrator, then moved to the helpline, where she pursued her CeMAP qualification. In November 2020, she became a Mortgage and Protection advisor ..read more

What happens to a mortgage in a divorce? December 22, 2023 The first working Monday of the year, dubbed ‘Divorce Day,’ often sees high volumes of enquiries to divorce lawyers. After a festive period that can either strengthen bonds or unveil irreconcilable differences, many find themselves ready for a dramatic change come January. While divorces happen all the time, between April to June 2023 there were 18,536 sole applications and 6,088 joint applications made for divorces, many people don’t know exactly what happens to a mortgage after divorcing. We are regularly asked this que ..read more