01908 597655Moving house can be a really exciting time; scouring RightMove for potential new homes, heading to viewings and finding ‘the one’, and then getting your own house up on the market to sell. Amongst all of this, however, it’s really important to decide what your next move will be in terms of your mortgage. Should you find a new mortgage deal, or try to port your existing one? [Read more…]
Here to Help: Mortgage Light teams up with EAC Consulting to launch Here to Help: Job Search Workshop
We’re proud to have partnered with recruitment agency EAC Consulting to launch the Here to Help Job Search campaign – an initiative designed to support people looking for work in the area as the second lockdown continues. [Read more…]
Switching to a New Mortgage Deal
When you take out a mortgage to buy your home, you typically take a deal that is to be paid off over the next 25-30 years. That doesn’t mean, however, that you have to stick with that original deal or lender for the whole of that term. In fact, it often makes sense to move your mortgage borrowing around onto different deals, or different lenders to take advantage of deals that might be available. Transferring your mortgage borrowing without moving house is known as remortgaging. [Read more…]
Self-Employed Mortgage – How Does it Work?
When you are self-employed, you may wonder how much you can borrow when taking out a mortgage. The nature of being self-employed often means that your income is not fixed each month/year. Without the security of a contract of employment, you may find it difficult to persuade some lenders that your income is stable enough to allow them to approve you for the mortgage that you want. [Read more…]
Shared Ownership – How Does it Work?
The Shared Ownership scheme has been around now since the 1970s. It’s a very popular way for those on low incomes or with low deposits to get onto the housing ladder. Shared Ownership has been described as a cross between homeownership and renting – but how does it actually work? [Read more…]
Is Shared Ownership a Good Idea?
If you would like to buy a property outright but you can’t raise a mortgage large enough to complete the purchase, then you might consider making use of the Shared Ownership scheme. The Shared Ownership scheme is designed to make buying a house more accessible for people on a lower income or who have low deposits- but is it a good idea? [Read more…]
Help to Buy Repayment Options
The Help to Buy equity loan scheme has been around now since 2013, and with many people coming to the end of their five-year interest-free period on their Help to Buy equity loans, many are asking the same question – what are my repayment options? The good news is that there are a few different routes that you can take when paying back the equity loan – and we at Mortgage Light have experts that can help you decide which is best for you. [Read more…]
Homebuyer moves up the ladder – with the help of Mortgage Light for a second time
Amy Barrows (26), a recruitment consultant, has been a two-time customer of Mortgage Light in the past five years. In 2016, the team helped Amy onto the property ladder using Shared Ownership and four years later, Amy was ready to climb onto the next rung – again with Mortgage Light’s help. [Read more…]
Remortgage: How Does it Work?
Remortgaging is the process of taking out a new mortgage to replace your current one on a property that already belongs to you. When you buy your mortgage, you don’t have to think of it as something that you’ll be held to for the rest of your life. Instead, think of it as something to re-evaluate periodically to make sure you’ve got the best deal for your situation. [Read more…]
Shared Ownership Pros and Cons
Getting on the property ladder isn’t always easy. For many people, putting down a 10-15% deposit on a home can simply be out of reach. That’s why there are government schemes available to assist people in becoming homeowners. One of the most popular schemes is Shared Ownership.
[Read more…]