Mortgage guides and advice
Check your credit score
Many people avoid checking their credit report because they have been lead to believe it will have an impact on their overall score. In fact, you can check your own credit report as often as you like without it having an impact on your score. Although every check of your report will create a footprint on your file, only searches made by financial lenders will leave a mark on your file that other lenders will see.
Reasons to buy life insurance
There are many reasons to buy life insurance – whether you do or don’t have health issues. Naturally, if you do have any health problems then it makes sense to take out a policy, but even if you don’t it’s wise to look into it early.
The main benefits of a debt consolidation loan
If you’re currently dealing with multiple loans from different loan providers then consolidating this debt can be a good option. A debt consolidation loan allows you to combine your debts to provide you with one monthly repayment.
How to get the best remortgage deals
For the vast majority of us, our mortgage is the single largest financial commitment we’ll make. Whilst this is the greatest expense we’re likely to see in our lifetime, it also presents the greatest opportunity to make the biggest savings. Remortgaging is the process of switching your current mortgage to a new lender who can offer a better deal.
What the new stamp duty cuts can mean for you
As of the 22nd November, stamp duty will be scrapped for the majority of first-time buyers. This is part of the 2017 budget by the chancellor Philip Hammond and aims to help fix the housing market. Any first-time buyer looking to purchase a property under the cost of £300,000 will be exempt from paying the tax.
What does the interest rate rise mean for you?
There’s been plenty in the news recently about interest rates rising for the first time in over 10 years. The Bank of England has raised the base rate from 0.25% to 0.5%. This means you could be paying roughly £200 more a year for every £100,000 you owe.
Things to avoid doing when applying for a mortgage
When applying for a mortgage you will want to avoid doing anything that could hold back your chances of being accepted. You might have already been working hard to improve your credit score and shouldn’t want to do anything that could further implicate your application.
Myths around mortgages and credit scores
Your credit score is one of the most important pieces of information about you when it comes to borrowing money. Mortgage lenders use your credit record to help them make a decision on whether they should lend to you. However, despite their importance, there’s still a lot of misunderstanding and confusion around credit scores and what they mean.
Ways to improve your credit score
A poor credit history can complicate things when trying to get a mortgage. Many mortgage providers won’t lend to someone who has suffered from bad credit regardless of their situation now. If you’ve been unsuccessful in getting a mortgage then you should work to improve your credit score.
Stamp duty on a second home
If you’re looking to buy a second home, whether this is to use yourself, or as a buy to let or holiday let then you should make sure you’re aware of the additional stamp duty charges you could face. The government have put in place a stamp duty surcharge of 3% on any second home.
Mortgage jargon buster
We know that getting a mortgage can be confusing. There are lots of things to consider and a lot of terminologies that you may not have heard before. Here we have tried to clear up the confusion by explaining in simple terms what these different terms mean.
The cost of moving house
Although your mortgage is likely your biggest expense when buying a house, there are other costs that you’ll need to consider. Some of these you might not be aware of, so we’ve provided a list of the additional costs to expect.
