As the year comes to an end, it’s a time for reflecting and planning for the year ahead. Homeowners may be considering their options with regards to their mortgages and thinking whether to remortgage. Remortgaging means paying off an existing home loan and acquiring a new one. What are the reasons for remortgaging? Maybe your existing arrangement is no longer suiting your needs or your financial situation has changed. When used carefully, remortgaging can be a valuable tool for bringing debt under control.
When looking to purchase a property as an investment, it is important to weigh up the pros and cons of each type. For some investors, houses may be the preferred option as there is more control and no ground rent and for others, flats are preferred as they have a lower purchase price and less ongoing maintenance.
A Mortgage Agreement in Principle (AIP) is a statement from a lender saying that they’ll lend a certain amount to you before you’ve finalised the purchase of your home. An AIP shows sellers that you can afford the property you want to buy and helps them make the decision to accept your offer. It is also particularly helpful to property sellers if they are deciding between more than one offer and it can tip the scales in your favour if you are the buyer who has the AIP.
It’s a turbulent time for landlords in the UK with tax changes, new regulations on fees and licensing as well as the uncertainty of Brexit all affecting the buy to let market. If you’re a landlord feeling overwhelmed by what is happening in the sector, we’ve summarised the key issues you need to know about in 2019 and beyond.
If you’ve made the decision to move house then you will no doubt already be looking at potential new properties to buy. Ahead of putting your existing property on the market, it is a good idea to be prepared to help you sell efficiently and quickly so that you don’t lose out on that dream property you want to buy next.
Finding the right house to purchase can take a lot of time and effort. There is often a long list of requirements a property needs to meet for it to be the right one and for some people, their decision may be based on a positive or negative feeling they get about a property. Often it is a combination of both. Once you have found the right house, you then need to secure it at the price you want to pay.