There are many different types of mortgages available on the market, and it can be confusing trying to work out which one is right for you. In this article, we'll take a look at different types of mortgages there is, to help you make an informed decision on which one is for you. Interest only vs repayment mortgages Most mortgages fall into the category of either interest only or repayment mortgages. So, the first thing to consider is whether you want an interest only mortgage or a repayment mortgage. Interest only mortgage: With an interest only mortgage, you only pay…

Properties are expensive and therefore usually require homeowners to borrow funds from banks in return for interest. As you pay back your loan, you gain equity in the house until, at the end of the mortgage term, you fully own the home. Typically, the more you pay as a deposit up front, the less interest and principle you pay and the more of the home you own. When buying a home you will most likely need a mortgage unless you are lucky enough to be a cash buyer. So, we've created a guide to mortgages to help you understand what…

When you apply for a mortgage in 2023 it can often seem a daunting prospect. The labyrinth of technology, complex calculations and myriad options may appear overwhelming. However, securing a mortgage is a critical step in most home buying journeys. Which is why whether you're a first time buyer bracing yourself for the initial plunge into the property market, a current homeowner looking to move or perhaps, exploring the world of property investment, our guide will equip you with the knowledge you need. We will explore: How to prepare for applying What will you need to apply for a mortgage?…

Are you looking to sell and buy a home at the same time? It's definitely possible, but there are a few things you need to keep in mind. So, we have created this guide to help you understand the process involved in selling and buying a home at the same time. Can you afford it? One of the first things you need to consider when selling and buying a home is your finances. In your current home how much equity do you have? Also, how much money do you have to spend on a new home? You need to think…

Stamp duty may be something you will need to budget for when you buy a new home, but what actually is stamp duty? We've created this guide to help you understand what it is, who has to pay stamp duty, how much stamp duty rates are and how you pay it. What is stamp duty? Stamp duty is a tax you pay when you buy a home. It is the buyer who is responsible for paying for stamp duty and not the seller. Stamp duty from the 23rd September 2022 in England was changed. You will now not need to…

When buying a house in the UK, there are a number of costs that you need to factor in. The main costs involved with buying a home are: Stamp duty Mortgage fees Conveyancing fees House survey fees Removal fees Deposit Redecorating/repairs Redirecting your mail Stamp duty During a house purchase, consider the stamp duty tax as it's a significant expense. As a legal requirement, it forms an integral part of the transactional cost involved. Nonetheless, a remarkable shift took place on 23rd September 2022, when the legislation surrounding the stamp duty tax was restructured. New rules state that you don't…

There's a lot to think about when when you buy a home. But don't worry, Homemove is here to help. This step-by-step guide will take you through the process, from deciding what you can afford and where you want to live, to signing the contract and moving in. So let's get started! Finances The first thing you need to do is make sure your finances are in order and work out how much you can afford. If you need to get a mortgage to buy a home then you will need to know how much you can borrow. The amount…

We’ve created this ultimate checklist of who to inform of your new address in 2023. As we know remembering every company to notify of an address change can be tough. This checklist should help ensure you don't forget any. Personal You should inform all personal contacts about your move. This ensures they don't send letters, cards, or packages to your old address. This includes: Family Friends The best way to inform them of your new address is telling them when you next see them or by ringing them or sending them a text with your new address. Work For your…

Viewing a home can be exciting! But, there are things you need to look at to make sure the home is suitable for you. You want to be able to get a feel for the home and make sure there are no problems with it, which will cost you money later on down the line. So, we have created this checklist to help you get the most out of your home viewing. Interior of the home These are some questions you should consider about the interior of the home: Is the home big enough for you? Will you be able…

When buying a home, it's important to ask an estate agent key questions in order to get the best possible understanding of the home, the local area and the seller's motivations. Here are some key questions to ask. 1. What is the reason the owner is selling? If it is possible you should try to find out the owners motivation for selling. This is helpful as when it comes to negotiating the price, if the seller is looking to sell fast they may accept a lower offer on their home. 2. How long has the home been on the market…