Mortgages

Information you need to provide to apply for a mortgage

When applying for a mortgage, lenders must be sure they know whom they are lending to and that you won’t overstretch your budget with your monthly payments, now and in the future. Listed below is the information required to assess affordability and advise appropriately: ☐ The ID for each applicant – Passport or Driving License …

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Why is interest only better than a repayment mortgage for Buy To Let mortgages?

When you take out a mortgage there are two ways of repaying it. You can either go for an interest-only mortgage or a repayment mortgage.   But what’s the difference?   REPAYMENT MORTGAGE:    A repayment mortgage is when each month you pay back both the interest on your loan AND part of the loan …

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Can I use a lifetime mortgage to release equity from my buy to let property?

If you are thinking about purchasing or borrowing against, a Buy To Let property, it may be in your interest to learn more about your Buy To Let equity release options.   Buy To Let Equity Release schemes have been put in place for landlords who are looking to extend their Buy To Let investments, …

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What you need to know about converting your property into an HMO

A house in multiple occupation (HMO) is a property rented out by at least 3 people who are not from 1 ‘household’ (for example a family) but share facilities like the bathroom and kitchen. It’s sometimes called a ‘house share’.   BVA BDRC’s latest survey suggests the average yield for an HMO (house in multiple …

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