Non-UK residents can apply for Islamic mortgages to buy properties in the UK

When it comes to applying for a mortgage, you might think that the biggest decision you make will be between repayment and interest-only. However, there’s another opportunity that you might never have considered – an Islamic mortgage. What is an Islamic mortgage? Interest-bearing loans are prohibited under sharia. Conventional mortgages are interest-bearing. In order to […]

Latest Update of the Housing Market

As a result of the COVID-19 pandemic house prices dropped by 1.5% in June, according to the House Price Index (HPI). HPI uses data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland. Alongside the easing of lockdown restrictions and introduction of the stamp duty holiday, the demand for houses […]

How Bounce back loans affect Contractor Mortgages?

The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The Scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. There are several ways that BBL affects mortgages. First time buyers, landlords have […]

Stamp Duty Holiday to boost the property market

The chancellor of the exchequer has announced a stamp duty holiday where home buyers will not pay stamp duty up to £500,000. This movement is a temporary measure to the property tax to run until 31 March next year. The primary purpose of this is to assist the UK’s economic recovery.  The temporary increase in […]

“Higher LTV deals no longer in existence”: is it really the case?

Higher LTV lending which are deals of 90% and 95% had been removed soon after the property market was announced for a lockdown by the government on the 23rd of March. These deals were of high popularity especially among the first-time buyers trying to get into the property ladder. This brought shock waves to the […]

Can I apply for a mortgage as a contractor inside IR35?

Yes, you can still get a mortgage being on a contract which is inside IR 35. IR 35 was a legislation that was introduced by Her Majesty’s Revenue and Customs (HMRC) to prevent contractors and freelancers from exploiting the tax benefit by being classed as a limited company. Tax legislation states that day rate contractors […]

Buy To Let For Companies (SPV Mortgages)

Buy to let lenders who offer mortgages to limited liability companies usually require the limited company to be an SPV (Special Purpose Vehicle). This means the company should be set up only for the purpose of holding and renting out property. An SPV company can be registered at Companies House specifying company name, registered address, […]

First Time Buyer’s Guide

Buying your first home is a really exciting milestone in your life, but it can seem a bit daunting. In this guide, we’ll walk you through the steps you need to take to buy your first home. By the end of this guide, you will be confident that you know what to do at each […]

Remortgage Guide

Can you help with buy-to-lets

There are certain times in the life of your mortgage when you might consider remortgaging your home. This may be to find a better rate, pay off a debt or fund home improvement. In this guide, we’ll take you through the pros and cons of remortgaging to help you find out if it is the […]

Help to Buy Scheme Guide

In the current property market, it can be challenging to get on the property ladder. For this reason, the government set up The Help to Buy Scheme. This initiative is intended to help first-time buyers as well as those who already own a property. There are several Help to Buy Schemes available to help those […]