Following submission of a full mortgage application, the prospective lender will instruct a valuation of the property. With most major high street lenders, this will be done free of charge. The mortgage valuation is part of the bank’s process to confirm they are...
Mortgage affordability represents how much a bank would be willing to lend to you. This is a calculation based on income and expenditure and the calculation is different with every mortgage lender. Credit commitments are the biggest expenditure factor influencing...
Offset mortgages are a feature offered on some fixed rate mortgages which allow borrowers to pay interest on a reduced amount. Offset mortgage customers are required to set up a savings account with the new mortgage lender. Mortgage interest is then only charged on...
Ever considered whether you could keep your existing property and rent it out when you move home? This process is called a Let to Buy and it is a genuine possibility for many homeowners. A let to buy transaction involves remortgaging your current property onto a Buy...
A few weeks ago, we did a blog discussing fixed rate mortgages. A fixed rate mortgage represents just one of the interest rate types available to those looking for a new mortgage deal. In today’s blog, we’re going to look at all interest rate types and discuss...
