The mortgage process can be daunting, especially for first-time buyers but even so for well-seasoned mortgage applicants who might find the playing field has changed significantly since the last time they applied for a mortgage.
Whether you’ve made the decision to invest in a rental property and become a landlord or have become an ‘accidental landlord’ and now need to rent out your home, being a landlord means there are lots of rules and regulations to adhere to.
Being a landlord can be daunting and it is important to know your responsibilities before you find suitable tenants.
Ahead of applying for a mortgage or any other type of loan, it is a good idea to check your credit report. In fact, it is advised that you carry out a regular credit report check even if you’re not applying for a loan in the near future, to help spot potential fraud or identity theft. For details of how to get a copy of your credit report,
Probate is the legal process of distributing the estate of a family member who passed away to his heirs in the form of an inheritance. However, this is typically a tedious and lengthy process that may even entail a significant financial burden. There are instances wherein the inheritance may only be sufficient to cover the fees involved in the process.
Buying a property involves making a series of decisions right the way through the process. One of the first decisions you need to make before you are ready to view potential homes is whether you want to buy a home that needs work and improvement or a home that is already fixed up and ready to move into, with no work to be done.
House buyers are often surprised to learn that the mortgages with the lowest interest rates aren’t always the best mortgages to choose from. Just like shopping for a new car; you wouldn’t always go for the cheapest car but instead, the one that’s best suited to you and your requirements. When choosing a mortgage, your personal needs need to be taken into consideration otherwise there could be other costs that cost you dearly in the long run.
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.