MI remember my first burrow, a simple none up, two down with enough room for a couple of cubs and clear run down to the chicken coop, but I've learned a lot about the property ladder since then - most notbaly that the mortgage market is a minefield whether you're a first time buyer or looking to remortgage.
First off, there's the amount of mortgages on offer - will you be going for a fixed rate, variable, tracker, discount, low deposit, offset or a no fee? Or can you get a combination of any of the above?
And, if you're a first time buyer you have the added headache of finding a deposit! Actually, if this is you then you may want to take a look at my Budgeting section for tips on how start saving.
A house is the biggest single expense that any of us will incur in our lifetime (taking kids out of the equation, of course) and so the process of actually buying a house, from viewing to buying, can be a pretty arduous one and involves many different people, from solicitors to surveyors.Read More
It’s been increasingly difficult to be accepted for any form of credit since the credit crunch began and lenders started to tighten their criteria. And where a reasonable credit score would have been enough to get you a credit card, loan or overdraft, it’s not the case these days as lenders are more choosy about who they offer credit to.Read More
Self-cert mortgages for those who are self-employed have got a lot of bad press in recent years, as many people believe they contributed to booming house prices, and the generally poor economic climate. This is because it was seen that they were a method of easily getting a mortgage that the applicant couldn’t really afford.Read More
A combination of an uncertain housing market and a dearth of buyers – due in no small part to the fact that you need a massive deposit and, seemingly, a letter from God to get a mortgage these days – has meant that many of us are sprucing up our homes instead of selling up and buying a new one.Read More
House prices are at their lowest levels since 2004 and despite an upsurge in sales just prior to the end of the stamp duty holiday, house sales have fallen almost 40% since the boom of five years ago.
So it would appear that now is as good a time as any to buy, and if you can put down a good deposit then you will find that there are some great mortgage rates available.Read More
The Bank of England interest rate has been at a record low of 0.5% for almost three years now, and still shows o sign of increasing. Whilst inflation was high, many people were still worried that it might increase, as the primary tool to deal with rising inflation, but the last few months figures have shown that inflation is now falling, although is still some way above the Bank of England’s 2% target.Read More