Category: Mortgage Rates & Market Updates

There are a number of mortgage products available on the market, so when you’re looking to buy a property, it can sometimes be hard to work out which one will best suit your circumstances. Finding out the differences and advantages of a range of mortgage options is always a good idea, so the two we’re going to look at today are Islamic mortgages and conventional mortgages.

The mortgage rate refers to the amount of interest you’re charged on the loan you took out against your property. The amount you pay will depend on many factors, including the length of your mortgage term, your deposit amount and whether you have a fixed or variable mortgage. In this article, we’re going to take a closer look at what mortgage interest rates are and answer the frequently asked question, ‘how are interest rates calculated?’.

Islam forbids interest-bearing loans, which means that traditional mortgage products in the UK are usually forbidden under Sharia law. If you’re looking for an Islamic mortgage or a home loan that’s compliant with your beliefs, you can look for a specialist type of mortgage that some banks offer which involves paying rent instead of interest. In this article, we explore what an Islamic mortgage is and where to get an Islamic mortgage in the UK.

Few people have the privilege of buying a house outright in cash, leaving the structured repayment approach of mortgage loans the more manageable solution. If you’re new to the process, you may have wondered ‘How much do I end up paying on a mortgage?’.

With recent mini-budgets and continual alterations causing instability surrounding what will happen with IR35, it’s more challenging than ever for the average individual to figure out whether they’re eligible for a mortgage. Not to mention what they need to do to get in front of the most suitable lenders.

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?

Every month, we get calls from customers who have encountered mortgage lenders that are hesitant of financing anything beyond 4-4.5x their annual income. Read on to learn everything there is to know about potentially getting a mortgage that is 5 times your salary.

Help to buy schemes can be valuable for getting first-time buyers onto the property ladder. As a government-backed option explicitly designed for new-build properties, a help to buy mortgage can provide an opportunity to buy a home sooner for individuals that fit into a specific set of criteria.

Buying a home is a huge, life-changing decision to make, and it’s not uncommon to get a little nervous about the process. Unless you’re just going to pay for it out of pocket, you’ll need to take out a loan to help finance the purchase of your new home.

Mortgages, by their very nature, are interest-bearing products. This means that according to the Islamic faith they are considered haram, an Arabic term meaning forbidden. As a result, many people believe that any kind of mortgage should be considered haram according to Muslim teaching.