Category: Moving Home

Transferring a mortgage to a family member, legally known as a transfer of equity, is a process some UK homeowners consider when going through life events or planning for the future. While it can be helpful in supporting loved ones or restructuring ownership, the process involves strict lender conditions, legal work, and possible tax implications.

Getting on the property ladder can seem challenging, particularly if you’re on a lower income or unsure how much you need to earn to qualify for a mortgage. While there is no formal minimum salary requirement in the UK mortgage market, lenders will want to ensure that you can afford the repayments both now and in the future.

Applying for a mortgage is one of the most significant financial steps you’ll take, and it’s natural to wonder, ‘How long does a mortgage application take?’ The timeline can vary depending on several factors, including the lender, your financial circumstances, and whether you’re working with a broker. In this article, we’ll answer common questions like how long does it take to get a mortgage, how long does mortgage approval take, and how long does it take to get a mortgage offer.

When you move home, deciding what to do with your existing mortgage can be one of the bigger financial decisions you face. Porting your mortgage – transferring your current mortgage product to a new property – is an option offered by many UK lenders. But is it always the best way forward? In this article, we’ll take a look at the benefits and drawbacks of porting a mortgage, helping you make the most informed decision possible.

Find out all you need to know about shared ownership mortgages with this article that looks at this useful scheme that helps people get on the property ladder. Shared ownership mortgages have become an increasingly popular method for first-time buyers and those on a lower income to get onto the property ladder. As housing prices continue to rise, traditional methods of buying can sometimes seem out of reach.

A rise in interest rates can affect nearly every sector of the financial world. From pensions, savings, short-term borrowing and of course mortgages. The base rate is set and dictated by the Bank of England which can rise and fall. This in turn can influence the cost of certain mortgage repayments, which can be a distressing and worrying time.

Securing a mortgage that fits all of your needs can be difficult no matter what job you do, however, some professions face different issues from others. Doctors and other medical workers can face very specific challenges when looking to purchase a property, so it is important to be aware of these potential setbacks if you plan on getting a mortgage in the near future.

Do NHS staff get mortgage discounts? If you work for the NHS, this might be something you’re looking to find out. With house prices rising and the cost of living skyrocketing, a lot of people are looking to save money wherever they can, and the 1.5 million people who work for the NHS are no different. There are no specific mortgages available for NHS staff, but there are some lenders that will take into account your specific circumstances as a health…

There are many reasons why you may be wondering if you can have more than two people on a mortgage. For example, a group of friends may be wishing to get on the property ladder together or several siblings may inherit property, requiring a mortgage to cover expenses or refurbishments.

High net worth mortgages are not just for the wealthy or people who have a high income. Many people who are asset rich can also qualify for this type of loan. These types of mortgages can be hard to get your head around, especially if you think you might qualify for one.