COULDJOINT BORROWER SOLE PROPRIETOR MORTGAGE HELP YOU?

What could be the benefits of buying jointly with a parent?

With current house prices on the increase, many First Time Buyers may be struggling on their income alone to buy their dream home.

One young person’s salary may not be enough to get a mortgage. Sometimes even two is not enough…

Joint Borrower Sole Proprietor Mortgage might just be the right solution to the problem! A parent could join in the mortgage application with their income to boost affordability so their child(ren) can get on to the property ladder. The joining parent doesn’t need to be the legal owner of the house so there won’t be tax liability for them. They will however be responsible for mortgage repayment.

Please bear in mind that as every case is different, it is best to speak to a qualified broker first. Contact us if you have any questions.

Could you build your own home with the new Government Scheme?!

Wouldn’t it be great to BUILD your own home with just 5% of own deposit?!

A new Government scheme called HELP TO BUILD that will be available in England, will make this possible for many people.

With just 5% deposit and up to 20% (40% in London) of Equity Government Loan, you may be able to get a mortgage to actually build your own home. How good could it be to chose your own location and design?!

The equity loan offered will be based on estimated costs to buy land and build a home.

For more information go to : https://www.ownyourhome.gov.uk/scheme/help-to-build/

What are the benefits of remortgage?

💷Saving – if your house value has increased and your mortgage balance is less than initially, you might be able to get a better interest rate and save on your monthly payments

💰Extra Capital - You might be able to borrow more for other purposes, e.g. new property investment, home improvements, etc.

⏳Time - You might be able to look to reduce your mortgage term and repay your mortgage sooner than initially expected

Whether you are on a variable product or in a fixed deal expiring within the next few months, best thing you can do is to discuss your remortgage with a broker.📞

Let us know if you have any questions.