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10 Years Of Buy-to-Let Mortgages The buy-to-let market has come a long way since it’s inception in 1996 At that time there were only four lenders who offered mortgage products specifically targeted at the private rented sector 100% Mortgages – Are They For You? If you’re looking to buy a house, but don’t quite have enough capital to put down a minimum 5% deposit, it may be that you can apply for a 100% mortgage, also known as a no deposit mortgage This is where you’re actually borrowing against the full cost of the property, as opposed to whatever’s left after you’ve put down a deposit A Brief History Of Buy-To-Let Mortgages Evolution of the Buy-to-Let Market Investing in property is a relatively new phenomenon in the UK Prior to 1990 rental properties were dominated by the Government A Guide To 100% Mortgages In this day and age of rising costs and low housing affordability, various schemes have arisen to assist first-time-buyers get onto the property ladder One is these is 100% mortgages, which provide enough funds to the borrower to purchase a property outright A Guide To Stepped Mortgages With interest rates on the rise property owners are searching for ways to save money on their mortgages Monthly repayments have been steadily growing due to a gradual increase in the Bank of England base rate and those on variable rate mortgages are feeling the pinch Advantages And Disadvantages Of Using A Mortgage Broker When searching for a home loan, you will be faced with the decision of whether or not to use a mortgage broker There are advantages and disadvantages to using a mortgage broker instead of applying for a home loan directly with a lender Adverse Credit Mortgage Broker Fees Just because you suffer from adverse credit, it does not mean that you will automatically need to use the services of a mortgage broker who will charge a large fee when helping you apply for an adverse credit mortgage Although the fees targeted at adverse credit mortgage applicants are normally high when compared to applicants with clean credit, some brokers choose to not take advantage of the situation and do not charge excessive fees to their adverse credit clients Adverse Credit Mortgage Fees If you suffer from bad credit and need to apply for an adverse credit mortgage product it does not mean that you will automatically need to use the services of a broker who will charge a hefty fee when helping you apply for a home loan There are other options available such as finding a mortgage product by yourself or employing the services of a broker who charges reasonable fees Adverse Credit Mortgage Fees If you suffer from bad credit and need to apply for an adverse credit mortgage product it does not mean that you will automatically need to use the services of a broker who will charge a hefty fee when helping you apply for a home loan There are other options available such as finding a mortgage product by yourself or employing the services of a broker who charges reasonable fees Adverse Credit Mortgage For Discharged Bankrupt People who are discharged bankrupts are usually required to apply for an adverse credit mortgage when searching for a home loan to fund the purchase of their property It is highly unlikely that an applicant with such a poor credit record will ever be able to apply for a standard product again Adverse Credit Mortgage Investors Seek Help Major financial institutions which hold billions of pounds in mortgage backed securities have been watching mortgagors default on their home loans in record numbers in recent times Surprisingly these investors have not shored up their defenses against the rogue borrowers enough and as a result have been losing money hand over fist All About Adverse Credit Remortgages In recent years, adverse credit remortgages have become a popular choice for people seeking to refinance their property who suffer from impairments to their credit files Regular high-street banks will usually not refinance your property if you have a poor credit history All About Discount Mortgages Discount mortgages are a type of mortgage product that have a variable interest rate which moves roughly in line with the lender’s Standard Variable Rate (SVR) The discounted interest rates attached to this type of home loan product are genuine and will normally apply for a set period of between one to five years All About Flexible Mortgages Flexible mortgages were first introduced into the UK to cater for individuals with intermittent working patterns Flexible mortgages are a recent addition to the home loan market in the UK, although they have been popular overseas for several years All About Repayment Mortgages When applying for mortgages borrowers have the choice of obtaining interest only or repayment mortgages Interest only mortgages require the borrower to only pay the interest charged each month on the mortgage All About Self-Employed Mortgages There are a growing number of people in our society who choose to work for themselves and are therefore regarded as self-employed Such individuals may be required to apply for specialist self-employed mortgages when buying a home rather than traditional mortgages All About Variable Rate Mortgages Variable rate mortgages have an interest rate that may fluctuate throughout the term of the loan Interest rates attached to variable rate mortgages usually move in line with either the Bank of England Base Rate (BoEBR) or the lender’s Standard Variable Rate (SVR) and is quoted as a fixed percentage above one of them Alternatives To Remortgages Unlocking equity that has built up in a property can be achieved through a number of means including refinancing your home Remortgages are carried out by home owners who want to release the equity in their home and apply for a new mortgage at the same time An Unlikely New Mortgage Market Much has been written about the sub prime mortgage crisis in the US and even more has been said Most analysts placed the blame for the implosion in the credit market on the adverse credit mortgage Assessing Remortgage Applications If your home loan is costing you more money than it should or if you are nearing the end of a fixed interest rate or discounted rate period you may be preparing to remortgage Switching mortgages is quite common in the UK with most home owners remortgaging on average about every seven years
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