The financial services industry regulator, the Financial Conduct Authority (FCA), has set out a new set of rules for mortgage advisers, and lenders, to improve the process of getting a mortgage.
Mortgages
A mortgage is likely to be the single largest financial commitment you ever make. There's a wide range of mortgage products out there, with varying interest rates and repayment options available.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
You will not have to pay us a fee as we will be paid commission from the lender.
You will not have to pay us a fee as we will be paid commission from the lender.
Before you choose a specific deal, you need to decide what type of mortgage is the most appropriate for your needs.
People buying their first home often have specific needs when it comes to finding a mortgage. A range of mortgages exists specifically for this market sector.
The government has put in place a number of schemes to support house purchasers, such as Help to Buy.
Remortgaging means switching your mortgage to another deal with another lender without moving property.
These types of mortgages are designed for property investors and private landlords, who do not intend to live in the purchased property but will let property to tenants.
An offset mortgage enables you to use your savings to reduce your mortgage balance and the interest you pay on it.
With options for overpayment and payment ‘holidays’, a flexible mortgage can make the traditional 25-year British mortgage look rather old-fashioned.
These are mortgages suited to people building a new home. With a self build mortgage, money is released in stages as the build progresses.
A bridging loan is taken out to ‘bridge’ the gap between the purchase of a new property and the sale of an existing one.
Second charge loans can be secured against residential or Buy to Let properties.
Equity release can help people release cash (equity) in their homes for a particular purpose, like supplementing retirement income.
UK News
Some 14 million drivers are expected to hit the road in the last weekend before Christmas, according to the RAC.
Google proposed new limits after a judge ruled Google illegally crushed competition in search.
People with no connection to the Post Office avidly followed the inquiry, both online and in person.
It's another sign the industry is moving away from owning games - some fear that means gamers having to "shell out more."
Government plans to limit the payment have been criticised by some MPs, unions and charities.