The Mortgage Process Part Two

January 8, 2009

After finding out how much you can borrow you now need to View Suitable Properties

There are three things that are important when selecting your new property – LOCATION, LOCATION, LOCATION.
Go for the worst property in the best area, rather than the best property in the worst area. Why?, you’ll find it easier to sell, when [...]

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Why House Prices Have To Fall Further in 2009

January 7, 2009

With the 3 month rate of house price reductions slowing  and prices having fallen back to those seen in mid 2005, you could be forgiven for thinking that the falls in house prices are over, but you’d be wrong.
Even though affordability levels have fallen to more normal levels would be buyers and in particular first [...]

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The Mortgage Process Part One

January 6, 2009

Perhaps this page should be called “the house buying process explained – of which the mortgage process is a significant part”, but that’s a bit of an unweildy title, anyway, here it is:

Decide on the maximum purchase price that you can afford

View suitable properties

Bid on suitable properties

Have an offer accepted

Complete mortgage application

Obtain mortgage offer

Appoint a [...]

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Mortgage Income Multiples

January 4, 2009

Income multiples are a simple way for a mortgage lender, and you, to calculate how much can be borrowed.
For many years this was a pretty much universal 3x gross (before tax and national insurance are deducted) income. In the case of two, usually married applicants, it was 3x the higher income, plus 1x the lower [...]

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Welcome To The Mortgage Blog

January 2, 2009

Welcome to the mortgage blog. This blog is written and maintained by an active UK Mortgage Broker and I’m going to give you every piece of information possible to make the best choice for your mortgage or re-mortgage.
The uk mortgage and property market (for that’s what it is) changed massively in 2008 and will undergo [...]

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