Buying a home for the first time by Nand Kishore Sahu
You are living as a tenant for as long you can remember and you always dreamt of buying a house in a great location with lots of greenery and nature but your limited financial resources has always kept your dream home away from you. First time buyer mortgages can help you realize your dream and... As going for a home mortgage loan needs a lot of thought and commitment for a longer period, people are advised to do their homework properly. ... Buying a home on mortgage is not easy as it involves a long financial commitment and a huge amount to be repaid.

Guide to Mortgages by John Mussi
A mortgage is a loan that is guaranteed by a property. At its most simple that means, if you can't pay back your loan the lender can force you to sell your home so they can get their money back. Typically you can borrow three to three and a half times your income, or two and a half to three... Although your mortgage is secured on your home, lenders see repossession as the last resort: they stand to make more money from your mortgage than the sale of your home. ... A repayment mortgage requires you to pay back both interest and loan capital, so at the end of your mortgage period there is no...

What is an Interest Only Mortgage? by John Mussi
An Interest Only Mortgage is one where the repayments are made up entirely of the interest on the loan. When the mortgage term is complete, the capital originally borrowed is still outstanding. To cover the balance, borrowers are advised to make regular contributions into an investment policy... This can be arranged by the mortgage provider, most commonly in the form of an endowment mortgage, an ISA mortgage or a pension mortgage. ... If you do choose an interest only mortgage, you need to make sure that you know from the outset how you intend eventually to pay off your mortgage loan.

A Secured Loan Could Save You Money by Bwalya Mwaba
What is a Secured Loan? A secured loan is any loan that is secured on your home or property. It is any loan which requires you to provide the lender with some form of security other than just a promise to pay. The security will be your property or home. ... If you agree to a secured loan on your home, you should remember that, although the property remains in your possession, it can be repossessed by the lender if the loan and the interest are not paid according to the agreed terms. ... Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Meet your Financial Needs with a Home Equity Loan by Pranav Das
You are a home owner. You have already mortgaged your house and unfortunately you have again fallen in financial need. You want a low rate secured loan, as you can’t afford to pay heavy installments against the loan. You need not take any kind of stress as you can avail the benefits of a home... For instance, if your unpaid mortgage balance is, say 75% of the value of your house, you can take a home equity loan on the remaining 25% of the value of your house. ... Home equity is also called as second mortgage because in this case you mortgage the equity of your house for the second time.

Self Certificate Mortgages – Prove Yourself! by Joseph Kenny
Bank managers are probably the most risk-averse individuals you are likely to meet – without proof of a regular salary and sound financial track record you may presume a frosty reception when you ask about borrowing. However, there are options available for people who don’t conform to the norm. ... The drawbacks You may find the terms less generous than with other types of mortgage, and the lender may apply Higher Lending Charges or an indemnity to protect them. ... If you have an erratic income, you may want a more flexible mortgage that allows you to increase or decrease your monthly...

What is a Buy To Let Mortgage? by John Mussi
A buy to let mortgage is a mortgage on a property which is to be let out or rented, rather than occupied by the owner. A buy to let mortgage is exactly as it sounds - a mortgage that allows you to buy a property in order to let if out to a tenant. This type of mortgage is similar to most others... The big difference compared to a standard home loan is that most lenders won't just take your salary into account when assessing eligibility. ... However, since a buy to let mortgage is used to finance the buying of a property for rental purposes, the borrower must prove that the rental income...

Brief Mortgage Guide for the Baffled by David Carter
Most people talk about mortgages as if they know all about them, but to many folks the whole subject is one of bafflement and mystery. If you know little or nothing about mortgages, this article might help. A mortgage is a large loan for buying property. ... You can have a mortgage to buy your first home, a second or holiday home, or even a property to let out, so long as you can afford to make the repayments. ... With a repayment mortgage, your monthly payments not only cover the interest, but also gradually pay off the loan itself.

How to Buy a Holiday Home Abroad by Rhiannon Williamson
The thought of owning a second home in the sun or a ski lodge or mountain retreat where we can escape whenever the mood takes us is of course a commonly held dream. And with the simplification of re-mortgaging facilities, the affordability of home loans and the growth in underlying equity many... The answer will lie somewhere among your own personal circumstances, your ability to afford an extension on your home loan or an overseas mortgage, the country in which you’re buying abroad and whether or not it offers good investment potential.

An Overview of Getting a Homeowner Loan by John Mussi
Should you be in the market for a homeowner loan, you might find yourself wondering exactly how to go about finding the loan solution that you're looking for. A homeowner loan is a loan that's designed for individuals who own a house or other real estate, and uses the value of the home as the... Variable loan options Since a homeowner loan can be seen as an additional mortgage on your house or real estate, many of the banks, finance companies, and other lenders that you'll approach for your loan will treat it as such.