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.
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.