YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Overpaying your mortgage: should you do it?

Do I really need a survey? Well, the short answer is yes.

Lindsay and Sam have just found out they’re expecting their first baby. Although they’re excited at the prospect of starting a family, it’s come as a bit of a surprise and their current living situation is far from ideal. They’ve been staying with Lindsay’s dad in his two-bedroomed terrace for just over a year while they save up a deposit for their first house . The lack of space and privacy has proved challenging to say the least. Adding a baby into the mix seems like a terrible idea. On the positive side, Lindsay and Sam now have a decent deposit to put down on a house. Despite this, friends have warned the couple they’ve no chance of getting a mortgage due to their working situation. Sam is a self-employed roofer and he’s pretty successful. However, he’s only been working for himself for two years. His friends have told him, he’ll need at least three years of accounts before a lender will go anywhere near him. They say any mortgage the couple can get will be based on Lindsay’s income alone. Lindsay works as a hairdresser and her salary is nowhere near enough to secure the kind of mortgage they’re hoping for. What can Lindsay and Sam do?

Whether you're a first-time buyer, a second-stepper or further up the housing ladder, buying a home is always a big move...

Sylvia and Jim met at university and married within months of graduating. After their honeymoon, Sylvia was delighted to land a job in publishing, while Jim put his gift of the gab to good use in a sales role. A year after tying the knot, they bought a house. The couple were looking forward to spending the first Christmas in their own home and had a trip to Iceland planned to see in the new year. However, on his way home from work on Christmas Eve, Jim was involved in a car accident and suffered life-changing injuries. The future suddenly looked very different. Jim was unable to work following the accident and Sylvia left her job to become his full-time carer. They could no longer afford to pay the mortgage and lost the house. Hopefully, you’ll never find yourself in a situation similar to Sylvia and Jim. However, when you take out a mortgage - as well as insuring the building and contents - it may be worth thinking about getting protection insurance to provide financial security should you or your partner become critically ill or die. What is protection insurance? There are three main types of protection insurance:

The cost of moving home Buying a home comes with extra costs and fees you need to be aware of – from securing your mortgage to booking the removal van. Whether you’re a first-time buyer, downsizing or moving to your dream family home, it’s an exciting – and busy – time. It also comes with costs that could take you by surprise, so here’s a look at the ones you’re likely to come across and how we can help you through the journey.

Tips to finding your first home Searching for your first home can be an overwhelming experience, but when it’s the biggest purchase of your life, you need to ensure that it’s right for you. There are so many things to consider, so to help you with one of the biggest decisions in your life, we have drawn up some helpful tips and guidance when finding your first home.

The Bank of England has raised the Base Rate 0.25% to 4.25%. Did you know more than 1.4 million households coming to the end of a fixed rate mortgage in the UK are facing interest rate rises when they remortgage in 2023?

Let’s start at the beginning - what exactly is home insurance? Home insurance financially protects your home against damage or theft but is typically split into two parts – buildings and contents. Buildings insurance – this covers the building itself, including walls, floors, doors, windows and the roof. It also covers permanent fixtures such as baths, toilets, fitted kitchens and even wallpaper. Contents insurance – This typically covers anything that can be taken with you if you move e.g. kitchen appliances, furniture and valuables. Not all home insurance is equal As Alex and Megan discovered to their cost, not all home insurance is equal. Although tempting to simply go with the cheapest option, it’s always best to check the details of any policy you’re considering seeing exactly what’s included. For example, some buildings insurance covers garages, greenhouses and garden sheds but some policies don’t. It's also a good idea to check for exclusions. You may find some insurers won’t pay out for anything considered to be the result of general wear and tear or damage that happens over time, such as damp or rot. Meanwhile, contents insurance generally has a single-item limit, meaning high-value possessions may need to be named separately. You may also have to pay extra to cover belongings when they are taken outside your home.