If you plan to buy a home in the coming year; taking steps now to spruce up your credit report can significantly increase your chances of qualifying for a mortgage. It’s important to remember that when lenders are deciding if they want to do business with you, they typically begin with a review of your…
Saving to buy your first property can be daunting, but having a clear and realistic plan can make it feel much more achievable. The first step is work out how much you need to save. Your mortgage deposit is by far the biggest thing you’ll be saving towards. It will usually need to cover at…
What is an ‘agreement in principle’? An agreement in principle, also known as a ‘AIP’, ‘decision in principle’, ‘mortgage promise’ or a ‘mortgage in principle’, is a certificate or statement from a lender to say that, ‘in principle’, they would lend you a certain amount of money. When you apply for an AIP the lender…
Here at The Residential Mortgage Hub we understand that the mortgage application process can be difficult to navigate, even for those who aren’t buying their first home. It’s important to understand that a range of factors will influence the outcome of your mortgage application. These range from the type of property you’re buying to your…
Statistics show that on average, people living in the UK will pay off their mortgage by the time they are 69. With this in mind, do you know when your last payment will be to make you mortgage free? At the moment, nearly a third of the UK population are sitting on Standard Variable Rate,…
With a mortgage offer in hand, you’re almost ready to complete and pick up the keys. However, you may be wondering what happens in the meantime. This handy guide will give you a behind the scenes glimpse at what is happening at each stage and what to expect. The mortgage offer We will notify you…
The government-backed 95% mortgage scheme that was announced at the Budget is now available to lenders. The scheme aims to help first-time buyers or homeowners obtain a mortgage with a 5% deposit to buy a property of up to £600,000. The scheme is one of a range of flexible home ownership options available. These include…
You’ve got a new job, congratulations! Getting a mortgage with a new job is possible, but some mortgage lenders may consider you a risk. This is based on the possibility that you may not pass your probationary period or could be made redundant. Therefore, meaning you would be unable to afford your mortgage repayments. For…
Could remortgaging benefit you? In this article we’ll go through the essentials that you need to know to help you make an informed decision on whether it could be suitable for you. What does remortgaging mean? Remortgaging or to remortgage means switching from one lender to another getting a new deal in the process, whilst…
The number of cohabiting couples buying a home together and submitting joint mortgage applications in 2020 rose by 60% year-on-year. In comparison, the number of joint mortgage applications submitted by those in civil partnerships rose by 15% in the same period. Whilst for married couples it was 11%. Cohabiting families are the fastest-growing family structure…
