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  • Borrowing For Longer Will Assist Some Buyers

    Borrowing For Longer Will Assist Some Buyers While many people still view the traditional mortgage length as being 25 years, it is fair to say the market has changed in recent times. There is a growing number of mortgages made available to property buyers which last for 40 years. These mortgages are growing in popularity, although it opens up the possibility many borrowers will never fully pay off their debts. There is an apparent reason why homebuyers want to take a mortgage out over a more extended period. A longer period means lower monthly payments, and it also provides buyers with access to larger loans. Even though lenders have imposed stricter criteria on loans in recent times, ....

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  • Will Arranging A Mortgage Become Easier?

    Will Arranging A Mortgage Become Easier? It is understandable why many people find obtaining a mortgage to be a challenging process. Arranging a mortgage is one of the most significant commitments a person makes in their life, if not the biggest. Lenders must feel confident about the applicant and their ability to pay off the loan. Therefore, there is going to be an element of difficulty in obtaining a mortgage for many people. However, there is an argument that the process of applying for a mortgage should be made simpler. The lender will still have to undertake tests and checks to ensure the applicant is suitable, but the applicant should find the application process less daunting. ....

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  • One Mortgage For A Lifetime? Helpful For Buyers?

    One Mortgage For A Lifetime? Helpful For Buyers? In recent years, longer-term mortgages have come quite commonplace. 30-year mortgages are now a standard product, and many buyers are taking advantage of this style of mortgage. Having more time to pay off a mortgage helps a buyer find a more affordable mortgage, as the monthly payments are lower. Of course, the overall amount paid off is higher due to the more extended time frame. Still, when it comes to making a monthly mortgage payment, a more extended period is of benefit for many home buyers. However, plans are in place to introduce a lifetime mortgage with an interest rate which stays the same for the entire mortgage. This may make a ....

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  • January Sales Exist In The Mortgage Market

    January Sales Exist In The Mortgage Market The January Sales used to be a very common feature in the retail world. Given the excitement around Christmas, and many customers not having much money to spend in New Year, it is easy to see why sales drop off in January. Therefore, businesses would often cut prices in January to ensure they welcomed potential buyers, and to increase the chances of making a sale. Nowadays, the sales process starts early on Boxing Day, and even before Christmas Day if you are shopping online. As soon as the last postal delivery for Christmas is passed, many retailers slash prices in an attempt to continue selling as best as they can. While retailers start sales ....

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  • What To Expect When Applying For A Mortgage

    What To Expect When Applying For A Mortgage If you are looking to buy, you will likely need to arrange a mortgage. In most cases, the mortgage application process comes in two steps:
    Determining how much you can afford and what type of mortgage you need
    The lender conduction an affordability and suitability check on you Both of these stages are important, as you would expect given the sums of money involved when applying for a mortgage. It is best to seek guidance from professionals and experts in the industry, helping you make an informed decision as to what you can afford, and what mortgage is best for your needs.
    Prepare yourself for questions
    As part of the mortgage application ....

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  • Mortgage Protection – Why You Need It

    Mortgage Protection – Why You Need It The most significant commitment you make in your life is buying a home, which means the most significant payments in your life are your monthly mortgage payments. If you fail to make these payments on time and in full each month, you run the risk of losing your home. This is an outcome most people can’t bring themselves to consider, so it is easy to see why mortgage protection is vital for many households.
    What is mortgage protection?
    Rather than being a single policy type, “mortgage protection” covers a range of policies which help you pay your mortgage if you are unable to meet these payments. If you suffer an illness, are ....

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  • Remortgaging For Residential Properties

    Remortgaging For Residential Properties If you own property, there is a very strong chance you are familiar with mortgages, and you likely have one on your house. You may not be as familiar with the term remortgaging, but remortgaging is a sensible, and often smart, option for homeowners.
    What is remortgaging?
    Remortgaging is the process of taking out a new mortgage on a property which you already own.
    Why should I remortgage?
    There are many reasons why a homeowner should consider remortgaging for residential properties, including:
    You would like to obtain a better rate of interest to lower your monthly mortgage bills, allowing you to save money
    You currently hold a fixed-term mortgage ....

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  • Remortgaging For Landlords

    Remortgaging For Landlords While there are critical differences between a standard mortgage, and a buy to let mortgage, there are many similarities between the different mortgage types. It should, therefore, come as no surprise to learn landlords can remortgage their property, much in the same way as a homeowner can remortgage their property. With strong demand for rental property in Woking, it is no surprise many Woking landlords are reviewing their options. Woking landlords looking for remortgaging advice should consider the following issues.
    The reason behind your decision to remortgage may impact on the deal you’re offered
    There are many factors considered by a mortgage lender ....

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