Your mortgage term is defined by the number of years the mortgage is taken over. For a capital repayment mortgage, the full mortgage will be repaid at the end of the term. For an interest-only mortgage, the full mortgage must be redeemed at the end of the term. In...
This week has seen the majority of mainstream UK mortgage lenders increase interest rates on mortgage products for those buying, remortgaging and rate switching. While this is just a continuation of the trend seen over the last couple of months, it has been heightened...
Your income is the predominant factor which determines how much a bank will lend to you. Evidencing income through the appropriate documentation is vital to ensure the lender will use the necessary income figures for the mortgage affordability calculations. In most...
Interest rates are going up. Last December the Bank of England raised the base rate for the first time in over three years from 0.1% up to 0.25%. Last week saw a further rise from 0.25% up to 0.5% and more interest rate rises are set to follow later this year. While...
A couple of weeks ago we ran a blog on how the content of your credit report is of much greater importance than a credit score. In this week’s blog, we want to look at how mortgage lenders use the information contained within the credit report to assess applications...
