Buying a home is an exciting time but it could be the biggest single investment you ever make. If you are single and buying a home, it might feel like you are making lots of decisions completely on your own. But don’t lose heart, spending some time researching the schemes and savings options available to you, might just help you lighten the load.
Understandably, banks and building societies are careful who they lend money to, and financial histories are always looked into, with no exceptions.
Looking into a credit history will show up any defaulted payments and give the lender a good impression of how financially responsible you are with your spending. As well as looking at your credit report, lenders will also look at any County Court Judgements (CCJs) or bankruptcy proceedings that may be against your name.
If any of these apply to you, then you may find it harder to be accepted for a mortgage, however, there are certain lenders who will still lend to you.
Two out of three First Time Buyers say getting on the property ladder is more important than getting married.
Ordinarily there is a lull this time of year in the property market, yet data released from Halfiax indicates otherwise. Figures show mortgage approvals are increasing as people are securing their mortgage before they begin the property hunt for their new home.
Going through a divorce can be difficult enough without having the added worry of starting afresh and buying a house again on your own. For many, this may be the first time you’ve bought alone, and the whole buying process can be a daunting concept without someone to discuss and share it with.
Whether you've gone through a divorce or are simply just buying alone, we’re here to run through everything you need to consider so that you don’t accidentally overlook anything during this hectic time.
The first few months in a new house can sometimes be tough, financially. No doubt you’ve just worked really hard to save enough money to afford to move house or buy for the first time, and now not only are you getting used to your new mortgage repayments and household bills, but you may also need money to redecorate and make the house your own.
But once you’ve settled into your mortgage and have gotten used to your new outgoings, you may find that you have a bit more disposable cash than you first thought. So the next questions is: what should you do with the money, spend it or save it?
You could splash out on a fancy holiday, splurge on an impromptu shopping trip, treat yourself to a new car, or you could decide that it’s better to invest it or save it for the future. But have you thought about making overpayments on your mortgage?
When the times comes for you to remortgage or buy for the first time, there are certain things you can do to speed up the process.
If you can get yourself as mortgage ready as possible (possibly around 6 months prior to you needing a mortgage) then when the time finally comes, you will be in a much stronger position and your mortgage could go through much quicker.
So what can I do to get myself mortgage ready?
When applying for a mortgage or when remortgaging, your lender will perform an affordability test on you, to see if your finances are in order and ultimately decide if you are trustworthy enough to lend money to.
The tests will include a look at your income vs your expenditure, so it’s important that you are able to show that you are capable of keeping your finances in order.
We all know that feeling when your house becomes so full that you feel like you can’t see the wood for the trees. If this sounds familiar to you, then it’s time to sit up and finally declutter your house, once and for all!
Over the years, your belongings build up. People buy you things for your birthday and Christmas, children or grandchildren buy and collect things, and before you know it your home is well and truly cluttered up and full to capacity, which is no good if you're looking to put your house on the market soon!
But don’t panic. There are several ways you can declutter your house, so have a read of the below for some helpful ideas of how you can make a good start…