Mortgages
To secure a mortgage, lenders assess your financial situation, credit history, and the property's value to determine eligibility and terms.
Benefits
Home Ownership
Enables the purchase of property without full upfront payment.
Investment Potential
Property can appreciate over time, building equity.
Frequently Asked Questions
How much can I borrow?
Typically up to 4.5 times your annual income, but this varies by lender.
What if I have a poor credit history?
Options may be limited, and interest rates higher; consider improving your credit before applying.
First Time Buyer Mortgages
Tailored for individuals purchasing their first home, these mortgages often come with special incentives like lower deposits or government schemes.
Benefits
Lower Deposits
Some schemes allow deposits as low as 5%.
Government Support
Access to programs like Help to Buy.
Frequently Asked Questions
What is the Help To Buy scheme?
A government program offering equity loans to assist first-time buyers with deposits.
Can I use gifted money for a deposit?
Yes, but lenders may require a letter confirming it's a gift, not a loan.
Equity Release
Equity release allows access to the equity tied up in a property without having to sell it. This is typically done through a loan secured against your home and repaid upon death or moving into long-term care.
Benefits
Access To Funds
Provides tax-free cash for retirement, home improvements, or other needs.
No Monthly Repayments
Repayment is deferred until the end of the plan.
Frequently Asked Questions
Can I move house after taking equity release?
Yes, many plans allow you to transfer the loan to a new property, subject to criteria.
Is equity release safe?
Choosing a provider that's a member of the Equity Release Council ensures certain protections.
Life Insurance
Life insurance provides a lump sum payment to your beneficiaries upon your death, offering financial security.
Benefits
Family Protection
Ensures loved ones are financially supported.
Debt Coverage
Can pay off outstanding debts like mortgages.
Frequently Asked Questions
Do I keep my insurance after completing my mortgage?
Yes, life insurance is a separate product and runs independently of your mortgage.
Can I get life insurance with a pre-existing medical condition?
Potentially, it will depend on severity and the outcome of a medical assessment.
Critical Illness Cover
Critical illness cover provides a lump sum payment if you're diagnosed with a specified serious illness, such as certain cancers, heart attacks, or strokes.
Benefits
Financial Support
Helps cover medical expenses, rehabilitation, or loss of income during recovery.
Flexibility
Funds can be used as needed, whether for treatment costs or lifestyle adjustments.
Frequently Asked Questions
Can I claim more than once on a critical illness policy?
Some policies allow multiple claims for different conditions, but this varies by provider.
Is critical illness cover included in life insurance?
Not always; it can be added as a rider or purchased as a standalone policy.