Buying a home and taking on a mortgage is often the biggest financial commitment a person will make in their lives. With this in mind, protection polices offer great financial security, not just to protect you, but to protect your family, your income and even the loan itself should the worst happen. However, a barrier stopping [...]
How can the Bank of Family support first time buyers? With gifts and loans from the Bank of Mum and Dad totalling a whopping £9.4bn in 2023, it would be one of the UK’s biggest if it was a real bank or lender. Given the clear affordability challenges still facing house buyers – particularly first timers [...]
What are the pros and cons of 100% mortgages? A 100% mortgage is, very simply, a home loan which allows the buyer to purchase a property without putting down any money (or a deposit) up front. Prior to 2008, it was common for lenders to offer deposit-free mortgages as standard, with some even allowing consumers to [...]
Jargon Buster: What are the key mortgage terms every first-time buyer should know? Buying a house can certainly be a daunting experience, especially when it’s your first time doing so. What doesn’t help is the wealth of jargon and terminology used during the mortgage process and throughout the entire journey to buy your new home. If [...]
Six key factors that can affect your first mortgage application Applying for your first mortgage is an exciting milestone, but it can also feel overwhelming. Lenders assess numerous factors to determine your eligibility, and some seemingly minor financial decisions can significantly impact your application. To help you secure approval, here are six key areas to focus [...]
Budgeting beyond the deposit for first-time buyers According to a recent report from Skipton Building Society, the first step onto the property ladder is the hardest. There’s no question that it can all seem very daunting for first-time buyers who want to purchase their first home. For those saving hard to get a deposit together, it [...]
