Many people may have new goals for 2023 - buying a property for the first time, moving to a bigger property to support their growing family, buying an investment property on a Buy To Let basis or arranging a remortgage to a new deal & maybe capital raising for some well needed home improvements. In [...] The post How to get Mortgage Ready in 2023 appeared first on The Money Hub ..read more

Each lender has their own individual criteria and limits as to how many buy to let mortgages clients can have, however some lenders have the NO LIMITS to the amount of buy to let mortgages clients can have, which is great for the investors who want to expand their portfolio. The lenders that have ‘No [...] The post How Many Buy to Let Mortgages Can I Have? appeared first on The Money Hub ..read more

In life, things happen, and circumstances change, and this means people need to alter their plans or ambitions. How you react to challenges dictates what you achieve in life, and there is no denying the current economic and financial difficulties are hard for many people and households. If you own a property and you are considering moving, it is natural to consider letting it out. However, you cannot just decide one day to let property and have it on the market the following day, especially if you have a mortgage. You’ll need to engage your lender, and changing your mortgage to a buy-to-let mo ..read more

A new study in the mortgage sector reveals 34% of UK adults looking to purchase a home in the next year could see their application rejected because of “adverse credit histories”. Considering the financial challenges people endured in the past two years is a growing concern for all those with interest in the mortgage or property market. Analysis of the market suggests people looking to purchase a home in 2022 have unsecured debts of an average of £2,732. This figure is 34% higher than the average level of UK debt, which stands at £2,035. People have a lot of higher bills to consider There are ..read more

Buying a property with a mortgage, or remortgaging a property and raising additional capital is not a quick process, so here are the key points to consider… The importance of your Credit Report The most detailed credit report we find is provided by a company called Check my file, which provides data from both Equifax and Experian who are the two major credit files. It is important to be able to see what the lenders are going to see when checking for your creditworthiness.   You should check this document thoroughly as the data maybe wrong – sometimes the way credit is reported on Experian ..read more

The increase in interest rates is likely to increase the monthly outlays for homeowners across the UK, and millions of property owners could be affected. With energy bills and the cost of groceries also set to increase in price too, 2022 will pose financial challenges for many households. Therefore, it is imperative prospective homebuyers and existing mortgage holders undertake due diligence with respect to mortgages. If you are applying for a mortgage to step on the property ladder, you must be as sure as you possibly can be that you can afford what you are committing to. If you already own p ..read more

If you are in debt, it can be difficult to see a way out of it. However, help is available, and there are schemes and solutions which might assist you. Debt consolidation is a way to simplify how you manage debt, and many people have used this method to get their finances back on track. What is debt consolidation? Debt consolidation is when you combine at least two debts, although often more, into a single and more considerable debt. What are the pros of debt consolidation? Given that many people undertake debt consolidation, it is a step that benefits people. Some of the leading pros of debt ..read more

The name alone suggests a similarity to the Help To Buy scheme, but with the Help To Build scheme, support is available for people undertaking a custom or self-build project. A key attraction of the scheme is that people are only required to offer a 5% deposit, which hopefully makes this an affordable scheme for many would-be homeowners. How to qualify for the Help To Build loan The criteria for the Help To Build loan includes: Borrowers needing 5% for the deposit The Government will then offer an equity loan between 5% and 20% of the estimated total cost, and this figure rises to 40% in Lond ..read more

40-year mortgages have been back in the news, so it is inevitable many homeowners and prospective buyers will consider them as an option. As you would expect, there are many pros and cons of this style of mortgage. What are the positive and negative aspects of a 40 year fixed rate mortgage? So, the plus and negative points of this style of mortgage can be seen as: Positive – You can make your monthly bills more affordable Negative – Longer repayment terms means you ends up paying a lot more to pay off the mortgage Positive – If interest rates considerably, your fixed rate mortgage allows you t ..read more

For some people, meeting their monthly mortgage payments is a struggle, and their main focus each month is ensuring they meet these requirements. However, if you are in a position to make overpayments on your mortgage, you are in line to enjoy significant benefits in the long term. How overpayments on your mortgage works Chris O’Brien, the product development manager at NatWest, has spoken about overpaying a mortgage; “If you want to overpay on your mortgage, you can either do so with a lump sum – for example money you have received as an inheritance or a redundancy payment – or by making regu ..read more