Do you want to increase the value of your property, without dipping into your savings?
In our great nation, we can take pride in the fact that we can own our own homes, there are multiple ways to get on the ladder, once on it through its instincts to improve our castles. Home is where the heart is, or so the saying goes. Read More
If you are a home-owner, then it will be very likely that you also own the land your house is on. It’s hard to imagine that you wouldn’t own the property if you actually owned the house. However, when we look at multiple flats in a block, you can question who actually owns the land underneath, with many different people owning apartments in the building. Read More
When assessing if a mortgage is appropriate, the FCA has always been very clear with mortgage companies, that the mortgage must be affordable and thus in your’ means. The FCA has never given any sort of direction as to age constraints in regards’ to lending. Read More
Second charge mortgages are loans which are secured against your property, as the name suggests this loan is second to the first charge, which would be likely for a larger amount of borrowing, probably taken out when you purchased the property at the onset.
Historically, when borrowers where turned down for financial support they may have been attracted to the higher risk, higher interest providers for their borrowing needs! Second charge mortgage rates are higher than the traditional rates but a lot lower then some of the ‘back street’ lenders out there. Read More
Near enough everyone, at some point will realise the fact that buying a property is a road to venture down. Owning your own property has its advantages, historically we can see that properties only really seem to go up in value! An important old question seems to be; “if I rent, am I only paying off my landlord mortgage?” Answer in a nutshell; YES! So, for those who are applicable a mortgage is definitely a path to go down, unless you have 300k in your bank. Read More
Buying a new home can be difficult, especially as lenders only prefer to lend a multiple of 4.5 times your income.
As the average price of a property in the UK is around the 220k and the average household income being around 26k, the maximum you could borrow would be around 117k. This means owning your own home is near high impossible. Even if a lender was to review your status they would require an average deposit of around 44k (80% LTV), which still leaves you needing a mortgage of around 176k. Read More
Interest rates play a major role to those with mortgages. Is it, in fact, one of the most frequently asked questions about mortgages advisors are interest rates going up and is it a good time to buy? How will rising interest rates affect my repayment is also a question which is quite high on client’s minds. Read More
If you are struggling to pay your mortgage, whether it be because of your income, the additional factors such as family or debt or the loss of your job, the consequences are still going to take its toll on you. Read More
Getting a Mortgage with Bad Credit.
Here at Rainstone Money, we take pride in being able to find the best mortgage deals available to any of our clients who have bad credit. Our aim is to make it as easy as possible to get a mortgage. We make sure all recommendations made by our brokers is tailor suited to our applicant’s needs. Read More