The Bank of...Granny and Grandad?
Posted by siteadmin on Monday 16th of November 2020
The Bank of...Granny and Grandad?
For many younger people struggling to get a foot on the property ladder, the Bank of Mum and Dad is the only option. With rent taking a huge chunk out of their income and the requirement for increasingly onerous deposits, two in five renters do not believe they will ever be in a position to buy a property, despite a desire to own a place of their own. That’s where Bank of Mum and Dad come in, as well as ever more frequently, the Bank of Granny and Grandad.
Among the UK’s largest lenders
If the Bank ...
Getting Mortgage Ready
Posted by siteadmin on Saturday 5th of December 2020
Buying a home takes careful preparation and planning. As well as finding a property you like, you need to get your finances in good order before lenders review them and assess your ability to make repayments on your loan.
Save up
During the recent lockdown, many lenders pulled their ‘high loan-to-value (LTV)’ products which typically only require a deposit of 5% or 10% (often first-time buyers) to take out a mortgage. The good news is that lenders are returning to the high LTV market, but you may need to act quickly to secure the deals. This...
Get mortgage fit for 2021
Posted by siteadmin on Monday 1st of February 2021
Estimates suggest that well over one million borrowers have lapsed onto their lender’s default standard variable rate (SVR). Has this happened to you? If so, now could be the perfect time to consider a remortgage, to get your finances in good shape for the year ahead.
Do you know your mortgage rate?
If your current tracker, fixed rate, or discount mortgage deal has ended, you are likely to be switched onto your lender’s SVR and could be paying way over the odds, perhaps without even realising. It has been found that borrowers on an SVR cou...
Turning ‘generation rent’ into ‘generation buy’ - New 95% mortgage scheme to help first-time buyers
Posted by siteadmin on Wednesday 9th of June 2021
Lenders are now offering a government-backed 95% mortgage scheme to help more first-time buyers onto the property ladder.
The government is hoping to turn ‘generation rent’ into ‘generation buy’ with the help of a 5% mortgage deposit scheme launched on 19 April.
Following the outbreak of the coronavirus pandemic, many lenders withdrew low-deposit mortgages. In just under a year, the number of 95% mortgages available to first-time buyers fell from 391 to just three. It’s hoped the scheme will give lenders the confidence to offer low-deposit m...
