TW Mortgages

02/08/2022

Can you be ‘catfished’ by a house?
According to a recent survey, more than 70% of prospective buyers have turned up to a property only to find it doesn’t look quite like the photos online. It’s a situation many online daters will be familiar with – catfishing. Common issues faced by ‘catfished’ house hunters include:

- A property much smaller than it appeared in the photos or one that looked more dated than expected;
- Tiny rooms being advertised as extra bedrooms
- Poor build quality that made buyers feel the property wasn’t worth the asking price.

Don’t rely on the estate agents’ photos alone – they know every trick in the book when it comes to making a property look great! Doing some research of your own, such as examining floor plans or using a street view tool, could help you avoid disappointment. 1MoveStreets, 2021

12/07/2022

With Bank of England figures suggesting Brits saved an extra £200bn during lockdown, using savings to overpay on your mortgage could be the key to cutting thousands in interest and months from the terms of mortgages, according to research1.

Paying an extra £90 a month on a £200,000 mortgage from day one of a 25-year term would reduce the loan’s total cost by more than £16,800 and shave over three years off the term. If you overpaid the same amount from the mortgage’s 10th anniversary you could save £5,300 in interest and pay your mortgage off 18 months early.

Overpayments won’t be suitable for everyone, and you should consider your own circumstances first. As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
1Halifax, 2021

15/04/2020

Considerations when co-buying a property
We all know how difficult it is to get on the property ladder these days. One increasingly popular solution for first-time buyers is to co-buy a property with friends.
In fact, a recent survey found that 60% of millennials would take out a multiple person mortgage with friends.
Pause for thought
Buying a property is a huge commitment, so here are some factors you might want to consider before taking the plunge:

- Try renting first to make sure you’re suited to sharing the same space
- Make sure you understand the two ownership types (joint tenancy or tenancy in common) and choose the option that’s right for you
- Consider drafting a cohabitation agreement, to avoid disagreements over who owns what assets.
Your home may be repossessed if you do not keep up repayments on your mortgage

13/04/2020

Our front door of advice is always open

After the General Election at the end of last year, the ‘Boris Bounce’ provided some momentum in the housing market. In fact, buyer interest in some parts of the UK saw a dramatic increase. Now, in the midst of the global COVID-19 outbreak, it’s difficult to quantify the likely impact on the residential property market, in the UK, and around the globe.

While there are many factors involved with determining the mood and movement of the property market, few things have a bigger impact than uncertainty. Rest assured we are here to help, if you have any questions about the property sector, mortgages or your protection requirements – please get in touch.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.

13/02/2020

I have a new personal best for application to offer time! Submitted the application on 10/02/2020 and it went to offer on 12/02/2020. Not bad at all if I do say so myself!

31/12/2019