Online mortgage
The UK credit industry is highly competitive and many credit lenders will work hard to secure your business so it pays to do a comparison of mortgage loan rates. In general there are 3 primary factors that UK mortgage lenders will think before making an offer. For making good decisions about mortgages, mortgage repayment calculator is very useful.
The general rule is that your maximum mortgage amount is limited to 3x – 3.5x the annual income of a income household. The loan-to-value maximum varies greatly between banks; even within a bank the LTV ratios vary depending on the mortgage loans and purpose of your investment.
The final card in calculating the things like how much you can borrow is the lender’s estimate of what you can afford. Here is where consideration of your unique circumstances are weighed, particularly your records of cash flows.
Why mortgage?
In addition there are two potential stamp duty taxes which are payable within 30 days of finalising your UK property purchase. The good news, however, is that non-residents only need to calculate gains made since the new change went into effect.
The basic UK mortgage types include the familiar fixed and variable rate loans with interest and principle payments. There are numerous subsets of these basic types which can be tailored to fit your unique circumstances.
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