It’s really easy to just assume that when you want to apply for a mortgage that you’ll just find the right house, fill in the relevant forms and hey presto, you’re on the mortgage ladder, right? No. There are a lot of boxes to tick when it comes to a lender granting you the mortgage that you require to purchase that dream home. The answer isn’t ‘well I’ll just keep applying until I get accepted’ as the more credit checks you have in a short period, the higher the chance this will get you refused credit anyway. The ...
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Whether you’re new to the mortgage market or you’ve had a mortgage for more years that you continue to remember then we thought we’d put together a quick guide to the most popular mortgage types. Fixed Rate: A Fixed Rate mortgage means mortgagee will see neither no increase or no decrease in the monthly mortgage cost throughout the term of the fixed deal. If the Bank of England Base Rate should change, the fixed term monthly cost will remain fixed. This is a great type of mortgage for those who like to budget each month and know exactly ...
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