Reach 4 ~ Mortgages ~ Personal Protection ~ Home Insurance

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Latest News

How does remortgaging work

RemortgagingYou may well have heard of remortgaging but never fully understood what it means. In layman's terms, remortgaging is when you look to move from one mortgage deal to another, either sticking with the same lender or moving to a new one.

A mortgage is likely to be your largest financial commitment lasting you many years, but you don’t necessarily have to stay on the same mortgage as the one you initially took out, as your personal circumstances may, and probably will, change over the years, giving you a reason to remortgage.

Read more: How does remortgaging work

Help to Buy for Homemovers

mum and daughterMany of you may already be aware of the Help to Buy scheme that was introduced back in 2013 that aims to help those struggling to save money get onto the property ladder, or to move home. However, it’s a myth that all Help to Buy schemes are for first time buyers only.

With as little as a 5% deposit, the Help to Buy Equity Loan will allow you to borrow 20% of the purchase price, interest-free for the first five years. In the sixth year, you will pay 1.75%, rising annually by the increase (if any) in the Retail Price Index (RPI), plus 1%. For those in the London area, you can borrow up to 40% of the purchase price.  

Read more: Help to Buy for Homemovers

Preparing to Move

couple packingMoving house should be, and is, a very exciting time, but sometimes it can be overshadowed by the stressfulness of the situation and having to organise everything ahead of time. 

Once you’ve had your offer accepted on your new house, now is the time to start sorting through your belongings and get yourself organised, ready for the big move. 

Read more: Preparing to Move

How to decide where to live

Choosing where to settle down and call home is one of the biggest decisions to make.reach001

You might already know what area you want to live in and it’s just a matter of finding the right house. However, if you’re wanting to relocate to a new area then you have a few more decisions to make.

It ultimately comes down to where your priorities lie. Think about what’s important to you and this should help you come up with a list of necessities which will help you move forwards and start viewing properties in those areas that could be right for you.

Read more: How to decide where to live

Our poor credit score could have stopped us getting on the property ladder

SamanthaSamPlymouth 12Samantha Hodge, 24, is an Educational Support Worker who lives with her boyfriend Sam Wright, 28, also an Educational Support Worker. They have just bought their first home together in North Prospect, Plymouth having previously been advised that, due to their poor credit score, it would be unlikely that they would be offered a mortgage...

Read more: Our poor credit score could have stopped us getting on the property ladder

To remortgage or not to remortgage, that is the question

family imageVery rarely do you take out a mortgage and stick with the same one for the whole term i.e. 30 years, until it is paid off and you’re mortgage-free (oh, the dream!).  

Each household is different and there are various reasons why you might look to remortgage. Perhaps you want to borrow more money or maybe you’ve seen a better rate that you’d like to switch to.

Read more: To remortgage or not to remortgage, that is the question

Top Tips for Selling your House

Generally speaking, your home is your biggest asset and you’ll no doubt want to maximise the house sale price when the time comes.Lounge

To do this, you’ll need to make your house as attractive as possible to any prospective buyers, so here’s what we recommend you do to spruce up your home and get it ready to sell.

Read more: Top Tips for Selling your House

How to Save Money to Buy a House

couple on bedThe upside to saving is not only will you have a sizeable deposit when you come to buying your house, you will also be able to demonstrate to lenders that you are able to budget and save and are therefore more likely to meet your monthly mortgage repayments.

While it may feel impossible to save up enough for a deposit, there are various things you can do to ensure you get on the property ladder sooner than you think.

Read more: How to Save Money to Buy a House

The Bank of Mum and Dad is 9th Biggest Lender

  • 84% of parents help their children - 57% is a gift, 18.3% is a no-interest loan and 4.8% a loan with interestyoung couple with parent
  • The Bank of Mum and Dad contributes 26% of funds to the UK housing market
  • The Bank of Mum & Dad is the 9th biggest lender

With many young people struggling to find the money to put down a cash deposit, it comes as no surprise that the majority are leaning on their parents to help them find the money (AKA the bank of Mum and Dad).

Read more: The Bank of Mum and Dad is 9th Biggest Lender

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