Second charge mortgages are only available to homeowners with a mortgage as the loan is secured against their home. This could make them a better option for bigger purchases such as a new kitchen or extension, because you can usually borrow a higher amount over a longer period compared to its unsecured alternative.
To avoid your Second charge mortgage and repayments getting out of hand it is vital you manage the whole process well.
What to Borrow
Before opting for a Second charge mortgage it is advisable to create a budget, working out exactly ... Read more »
If you haven’t refinanced your mortgage ever since interest rates have dropped, you may have still not missed your chance. I still know people who have interest rates on their mortgage that are over 7%, and that just seems like a crazy high amount for a mortgage interest rate to me.
However, you may have just never had a chance to refinance yet. Refinancing may not be for everyone, but it may be for you. I actually know someone who has refinanced their home loan over 5 times, and they’ve only owned their home for a few years. That is ... Read more »
Before you buy your next home, there are several areas that you may want to think about and discuss with whoever you may be buying a house with, unless you are buying the home solo (go you!). Doing this can make the whole, long, and sometimes stressful home buying process go much easier. It’s better to have less surprises pop up because I bet you something will pop up!
Here are some things you may want to think about before you begin your next home buying process:
What’s your credit score like?
Your credit score is very important when it comes ... Read more »
The home buying process can be a long one. However, it can be somewhat shorter if you are more prepared for everything that you need. Below are some of the things that may come up during your home buying process.
Your credit score and report will be checked.
When was the last time you looked at both your credit score and your credit report? Well, hopefully it was recently. The bank in which you get your mortgage from is going to look at this, and it will determine whether or not you can even get a mortgage, and if you are approved it will help determine ... Read more »
Buying a new-to-you home can be a long process, but if you know the steps then it may make the process a little less stressful for you.
Make a budget for yourself.
Yes, the mortgage company will pre-approve you for a certain amount, but you should make a realistic budget about what you can ACTUALLY afford. The mortgage company usually pre-approves potential homeowners for more than they can actually afford, so keep this in mind.
I remember when I first applied for a mortgage, I think I was making around $25,000 a year, yet I was approved for a $150,000 ... Read more »
In today’s real estate market, many people are finding that their homes aren’t selling very quickly. Your home may be on the market for a few days (a friend recently sold her home within 48 hours of it being listed), whereas others have had their homes listed for months and sometimes years.
You are probably wondering how this happens! There are many things that lead to a home selling quickly, and a home taking forever to be sold.
Below is what you should do if you want to sell your home quickly.
Price your home correctly.
You might try ... Read more »
Single moms have big responsibilities. They have the complete responsibility of running a household and taking care of the kids all on their own. While these responsibilities can be rewarding, they can also be very difficult. If a single mom is not able to secure a good job that pays enough for her and her family to live comfortably it can be very difficult indeed.
Many times the key to being able to secure a better job and to create a better life for your family is to get a higher education. However, it can be very difficult for a single mom to ... Read more »