What is mortgage porting, and how does it work?
As well as being a simpler process, there are many other benefits to porting your mortgage when you decide to move home, including potential cost savings.
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As well as being a simpler process, there are many other benefits to porting your mortgage when you decide to move home, including potential cost savings.
While many mortgage lenders offer mortgage products to applicants over 50 years old, the eligibility criteria can make it more difficult to get approved.
The offset mortgage is growing in popularity. It links your mortgage to your savings account. The value in your savings account is deducted from your mortgage balance.
With different government initiatives available, which were designed to help UK homebuyers, the Shared Ownership scheme and Mortgage Guarantee scheme have a lot to offer and may be worth considering.
If you need to save more money for a deposit, set a realistic budget. Keep an eye on your spending habits and cut back where you can.
When it comes to making decisions about remortgaging, it’s vital you know exactly where you stand. It’s important that you have the precise sum you still owe to your current lender, so you don’t fall short or end up with a more expensive mortgage.