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Month: August 2022

How much do I need to earn to borrow 400K?

August 26, 2022

It’s no secret that your income is one of the key factors in determining how much you can borrow. But how much do I need to earn to borrow 400K? No standard amount of income is required to qualify for a certain loan, as each lender has its own parameters for qualifying borrowers. However, this article provides a general overview based on a few factors.

What will my mortgage payment be?

August 19, 2022

It’s the question that seems to follow every first-time homebuyer: “What will my mortgage payment be?” Your mortgage payment is the sum of principal and interest payments due each month. Some also call this your PITI payment (Principal, Interest, Taxes, Insurance). Several factors determine your mortgage payment, and we’ll explain them in this guide.

Can you borrow more money if you’re involved in a Help to Buy scheme?

August 12, 2022

Help To Buy mortgages are an excellent option for those who are looking to make getting onto the property ladder that little bit more affordable. The scheme exists to help buyers get a foothold into a property of their own. But when you’re involved in the scheme, can you then re-mortgage your property like you can with a normal mortgage setup?

How much can you gift for a mortgage: definitive guide

August 4, 2022

One of the biggest challenges for buying a home is saving up a deposit, particularly as property prices have continued to rise in recent times. Some people have the option of parents lending a hand by supplying a gifted deposit to help with the purchase.