From the category archives:

Home Buyers Glossary

Right To Manage

Some leasehold flats don’t have a managing agent but are managed by the leaseholder themselves via a resident management or RTM (right to manage) company. However, this can involve a lot of hard work and leaseholders will need to be up to date about rules and legislation. Bookmark on Delicious Digg this post Recommend on [...]

Read the full article →

Family Offset Mortgages

This option is only offered by a few lenders; it enables family members with some savings to help first time borrowers by offsetting their savings against the mortgage. The Lloyds Lend A Hand mortgage has a similar take on this type of mortgage. Bookmark on Delicious Digg this post Recommend on Facebook share via Reddit [...]

Read the full article →

LVR

With property, banks will always look at the LVR. This is the loan to the value of the property ratio. Banks will value the property that you are considering buying and give you a loan based on 80 percent of the actual value of the home. You can use your own home as an equity [...]

Read the full article →

Guarantor

Gaining a mortgage using a guarantor (usually parents, relatives or close family friends) to guarantee the mortgage repayments. Bookmark on Delicious Digg this post Recommend on Facebook share via Reddit Share with Stumblers Tweet about it Subscribe to the comments on this post

Read the full article →

Limited Liability Option

Rather than requiring full liability for the mortgage, the mortgage applicant can take out a mortgage on the amount they can afford, leaving the remainder of the balance to be guaranteed by a parent or relative. The drawback with this is that the arrangement fees can be high and the criteria limiting. Bookmark on Delicious [...]

Read the full article →

Homes And Communities Agency

This is a governement organisation that has joined forces with the English partnerships and regulates and funds affordable homes. Bookmark on Delicious Digg this post Recommend on Facebook share via Reddit Share with Stumblers Tweet about it Subscribe to the comments on this post

Read the full article →

New Build Homebuy – Shared Ownership Re-Sales

Re-sales are properties that have been previously bought through New Build HomeBuy or Shared Ownership and are available to buy through the same scheme because the owners wish to sell. The new buyer would need to purchase at least the same percentage as the seller previously owned. Bookmark on Delicious Digg this post Recommend on [...]

Read the full article →

Intermediate Rent

This is the opportunity to rent a new build apartment paying subsidised rent at 20% below market value (approx) Bookmark on Delicious Digg this post Recommend on Facebook share via Reddit Share with Stumblers Tweet about it Subscribe to the comments on this post

Read the full article →

HomeBuy Direct

The government has partnered up with 130 developers to give house buyers up to a 30% interest free loan for 5 years if they buy a specific new build development. The money borrowed is an equity loan, therefore if the property bought goes up in value by a certain percentage, the amount of the loan [...]

Read the full article →

HomeBuy Agent

HBA’s are appointed housing associations who provide a one stop shop and point of contact for affordable housing options in a given area in England. They also handle the entire application process for the government’s HomeBuy products. Bookmark on Delicious Digg this post Recommend on Facebook share via Reddit Share with Stumblers Tweet about it [...]

Read the full article →

← Previous Entries