In recent years, the housing market has become a difficult place to navigate, especially for people who are trying to buy their first home. A lack of affordable housing has contributed to ‘Generation Rent’, with many young people unable to get onto the property ladder.
To help overcome this, HomeBuyService.co.uk site provides a one-stop resource to finding and understanding the maze of information on the different home buyer options available and the mortgage application process. Read our guides to help you understand about the basics of home buying, the different types of mortgage products on the market, so that you are are equipped to find the right mortgage for your circumstances and avoid any potential financial problems in future.
There are many schemes to help you on your way to getting on the property ladder, and there is a wealth of information available in our different mortgage sections to help guide you through the mortgage process.
The government has introduced a number of Help to Buy schemes to offer financial help and assistance to qualifying first-time buyers trying to get onto the property ladder, with some schemes open to all home purchasers.
However, as with most government help initiatives, public awareness and access to clear information and application for these schemes is often difficult and confusing; this is where HomeBuyService.co.uk can help you.
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Choosing the Right Mortgage Type
When it comes to mortgages, there are various options available catering to different needs and circumstances. First-time buyers embark on a significant milestone in their lives, venturing into the world of homeownership for the very first time. This type of mortgage is specifically designed to assist those who have never owned a property before, providing them with financial support and guidance throughout the process. On the other hand, purchase mortgages are suitable for individuals looking to buy a new home while already having experience as homeowners.
Remortgages serve as an opportunity for borrowers to switch lenders or negotiate better terms on their existing mortgage arrangements.
For those interested in investment opportunities, buy-to-let mortgages offer financing solutions tailored specifically towards purchasing properties with intentions of renting them out. This avenue provides potential landlords with access to funds that can help build up a rental portfolio and generate income through tenants.
Right to Buy cater specifically to council or housing association tenants who wish to purchase their rented property at a discounted price offered by local authorities under certain conditions.
Let-to-buy mortgages enable current homeowners who want to move but prefer not selling their current residence yet; instead, they convert it into a rental property while purchasing another home themselves. This arrangement allows individuals flexibility in managing their assets effectively without losing out financially during transition periods.
Equity release serves as an option primarily targeted at older homeowners looking for ways to unlock some of the value tied up in their homes without needing immediate repayment obligations. It provides financial stability during retirement years by offering either lump sums or regular income.
Find out more about the different types of mortgages available.
Whether you are first time buyer, looking to buy your next home, a tenant wanting to purchase your home through Right to Buy, or an investor considering a Buy to Let property purchase, or if you are simply just looking to release equity in your retirement or looking for a better rate with a remortgage. You have a come to right place!
Find out more the different types of mortgages available.
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Finding the best mortgage advisers in your area is easy. Whether you’re looking for buy to let, a residential mortgage, or a commercial loan just enter your location in the form to answer a few questions and sit back. We’ll do all the legwork to put you in touch with great independent mortgage advisers near you!