John Fitzsimons

John Fitzsimons

A guarantor mortgage can help applicants who are unable to secure a mortgage on their own, perhaps because they have bad credit. There are various pros and cons of guarantor mortgages but a guarantor should remember they will be liable should the applicant default on their repayments.

John Fitzsimons

Kerb appeal is the very first impression your home makes when potential buyers come to visit. It can be a make or break factor when selling your home. Read on for ways to improve your property’s kerb appeal.

John Fitzsimons & Denise Ko Genovese

Our NerdWallet survey of the UK mortgage market delves into the challenges that homeowners have faced in getting a mortgage and reveals how the pandemic has affected the plans of prospective buyers.

John Fitzsimons

The new mortgage guarantee scheme, unrelated to Help to Buy, is expected to encourage more lenders to offer mortgages to buyers with a deposit of as little as 5%. The scheme should make it easier to purchase a home with a low deposit mortgage.

John Fitzsimons

To tempt those buying a property or remortgaging, some lenders offer cashback mortgages. This type of deal involves the lender paying a cash lump sum to the borrower. Read on to find out more about the pros and cons of this incentive.

John Fitzsimons

If you have savings, an offset mortgage can help you to use them to reduce your monthly mortgage repayments. It works by linking the sum you have borrowed and the money you have in a linked savings account with your mortgage lender. Read on to learn how they work and whether they are right for you.

John Fitzsimons

A residential mortgage is used to purchase a property that you plan to live in. The loan is taken out against the property and can come in various forms, such as fixed or variable rate deals, and repayment or interest-only options. Read on to learn more about how they work.

John Fitzsimons

Parents can transfer ownership of a property in the form of a gift or by transferring equity in the property. Read on to discover the different types of ways to transfer a property.

John Fitzsimons & Holly Bennett

Porting a mortgage is when you transfer your existing mortgage deal when you move to a new home, instead of taking out a new mortgage. Here’s how to do it and what to consider.

John Fitzsimons

With so many things to think about, it can be hard to know where to start when you decide to sell your home. Here, we share some top tips for selling your home, from finding an estate agent and a conveyancer, to improving your home’s kerb appeal.

John Fitzsimons & Tim Leonard

Mortgage interest can be charged in two ways: through a fixed rate, where the interest rate remains the same for a certain period of time, or a variable rate, where the interest rate can change, and move both up or down at your lender’s discretion or in line with the Bank of England base rate.

John Fitzsimons & Brean Horne

Most home buyers in the UK have two main options when choosing a property: it will usually be offered freehold or leasehold. With freehold, you will own the property and land. With leasehold, you’ll own the property for a fixed period of time but not the land it is built on.

John Fitzsimons

There are two ways interest can be charged on your loan. With an interest-only mortgage, your monthly payments only cover the interest charged on your loan. With a repayment mortgage, your monthly payments also go towards the initial sum you borrowed.

John Fitzsimons

If you are a homeowner with an existing mortgage, you can tap into your home's equity through remortgage, where you switch from one mortgage deal to another. Older borrowers can also opt for an equity release plan and borrow against a portion of their property's equity.

John Fitzsimons

The smallest deposit that you can buy a house with currently is 5%. A more common ‘low’ deposit is 10%, as borrowers have far more options if they are looking to borrow 90% of the property’s value, or LTV.

John Fitzsimons

The larger your deposit, the less you have to borrow to cover the cost of your home, which often means lower interest rates. A few schemes and options are available to help build as big of a deposit as possible.

John Fitzsimons

A high LTV means you borrow more and put down a smaller deposit. That may mean higher interest rates, higher product fees, or both.

John Fitzsimons & Rhiannon Philps

A second charge mortgage lets you turn some of your home equity into funds you can use for a variety of reasons. If you take out a second charge mortgage, also known as a second mortgage or a homeowner loan, the amount you can borrow is limited by the amount of equity you own in your property.

John Fitzsimons & Brean Horne

A bridging loan can act as a bridge between the sale of one property and the purchasing of another. It is a short-term option that helps bridge a gap, for example, when buying a new house before selling your old one.

John Fitzsimons & Tim Leonard

A let-to-buy mortgage allows you to buy a new home and let out your existing property to bring in extra income. It can be useful if you can’t or don’t want to sell your current home, but can be a difficult process to negotiate. Consent to let is an alternative to let to buy you might consider.

John Fitzsimons

If you want to buy a second property, a second-home mortgage should help. It works like a normal residential mortgage, but allows you to purchase a second home while you still have an existing mortgage.

John Fitzsimons & Tim Leonard

Equity release can provide a useful way for older homeowners to access the capital built up in their property. It won’t be suitable for all, but in the right circumstances equity release could be used to supplement your pension income or provide a lump sum, all while you remain living in your home.

John Fitzsimons

Negative equity means the value of your home is less than the amount you still owe on your mortgage, making it hard to remortgage or move house. Fortunately, you have a couple of options when it comes to finding an exit route.

John Fitzsimons

Equity release is a type of loan that allows older borrowers to access some of the money tied up in their property. There are different types, like a lifetime mortgage or a home reversion plan. How much you can borrow will depend on your age, the lender and your property’s value.

John Fitzsimons & Tim Leonard

House equity is the difference between the market value of your home and the amount you owe on your mortgage and secured loans. So it’s how much you own of your property. Ideally, your home equity will increase over time as you make mortgage payments and if the value of your home rises.

John Fitzsimons

Online mortgage advisors have become popular in recent years by making the mortgage process easier. They work slightly differently to traditional advisors and brokers, so finding the right one will require some research.

John Fitzsimons

Your mortgage interest rate is the rate charged by a lender to borrow from them. A fixed-rate mortgage offers a set percentage that won’t change. With a variable rate mortgage, like a tracker mortgage, rates can go up or down. Discount mortgages follow a standard variable rate set by your lender.

John Fitzsimons

If you plan to buy a new home or remortgage, it is best to familiarise yourself with how mortgage lenders work. Some only offer deals through brokers, while others review borrower’s criteria and then charge for their services.

John Fitzsimons

Employers can offer loans to their employees in a few different ways. Employee loans can come directly from your place of work or a third party.

John Fitzsimons

Credit unions offer a variety of loan products to their members. If you need to borrow money, a credit union loan can be an option worth considering.

John Fitzsimons

Online loans make it easy to borrow money without visiting a bank in person. Online lenders offer a variety of loan products, including mortgages, personal loans and short-term loans.

John Fitzsimons

Loans for self-employed workers can be difficult to obtain, but they aren’t impossible. We explain how to apply, where to borrow, and what to do if you have bad credit.

John Fitzsimons & Rhiannon Philps

If you miss loan repayments, you might receive a notice of default from your lender warning that you have broken your credit agreement. If you can't pay your debt, you risk defaulting on your loan.

John Fitzsimons

Conveyancers transfer the ownership of a property from one party to another, and you will need one when buying or selling a home. A few common conveyancing fees include land registration fees, transfer fees and local authority searches.

John Fitzsimons & Brean Horne

House removals can ease the stress of moving house by handling the heavy lifting for you. Several factors, such as distance, the services needed and the number of items, determine house removal costs. Here’s how to find the right company to keep your move affordable.

John Fitzsimons

Whether you’re remortgaging, buying, selling, or applying for a mortgage, a house valuation is a critical tool to ensure you know the correct price of a property. House valuations can be informal or official and carried out by a chartered surveyor.

John Fitzsimons

If you’re buying a new home, you probably want to know exactly what you’re buying. Fortunately, professional surveyors can inspect the property as part of a homebuyers report. We explain the three main types of house surveys and how much they might cost.

John Fitzsimons & Brean Horne

Collecting the keys to your first home is a thrilling prospect, but first you need to tackle the mortgage application process. Read on to find out five simple tips every first-time buyer should know before applying for a mortgage.

John Fitzsimons

Proceeds from the sale of your house often go toward your new home. Find out what’s involved and what you may need to consider.

John Fitzsimons

Managing your mortgage includes paying fees upfront, making extra payments if you can, and always minding your rate.

John Fitzsimons & Tim Leonard

With a fixed-rate mortgage your interest rate, and therefore your monthly repayments, will stay the same for the duration of the period you’ve chosen to fix. Most fixed rate mortgages are for either two or five years, although terms in between and for longer are also usually available.

John Fitzsimons

A discount rate mortgage tracks a lender's standard variable rate, but at a discount. There are pros and cons to this sort of loan.

John Fitzsimons & Tim Leonard

With a variable rate mortgage the interest rate you pay, and therefore the monthly repayments you must make, could potentially go up or down. A fall in your variable rate can work in your favour, but there is always the risk that your payments could increase.

John Fitzsimons & Brean Horne

Near the end of a property transaction, both parties sign contracts detailing what is expected and it’s at this stage that they commit to go through with the agreement.

John Fitzsimons & Brean Horne

A property chain is when the successful completion of a property sale depends on several other purchases going through. If one person pulls out of the chain or runs into problems or delays, it can affect the house-buying process for everyone else.

John Fitzsimons

From saving up a deposit to finding the right mortgage, here's the road to buying a home.

John Fitzsimons

A completion statement is effectively the bill for the purchase of a property, laying out what you need to pay.

John Fitzsimons

The price of the property you want to buy is just one part of the total cost. You'll also have to include a range of fees for services.

John Fitzsimons

How much you borrowed and for how long, plus other terms of the deal, play the largest part in your mortgage payment amount.

John Fitzsimons

Having a mortgage agreement in principle in hand when you offer on a property can be a big boost in the eyes of the seller.