Has your mortgage lender ever mentioned your “loan to value” ratio? If you’re buying a property or remortgaging, it’s an essential concept to understand. Your LTV ratio could make or break your mortgage application and affect how much your mortgage ends up costing you. Here’s a clear explanation of what it is and why it […]
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Can You Pay Off Someone Else’s Mortgage In The UK?
Tax Implications of Paying Off Someone Else’s Mortgage UK Paying off someone’s mortgage in the UK might seem kind, but it could mean tax issues for both of you. Let’s see what those are and how to handle them. Inheritance Tax on Gifts A big concern is inheritance tax if you help a relative with […]
Can You Use Retained Profits For A Mortgage Application?
What Exactly Are Retained Profits? Retained profits, also known as retained earnings, are the money your company keeps from its net income instead of paying it out to shareholders as dividends. This money is then invested back into the business to fund growth, new projects, or asset purchases. It can also be held as a […]
Should I Pay Off My Mortgage Early Or Invest?
What’s My End Goal? Your overarching financial objectives play a major role here. Are you prioritising: There’s no right or wrong end goal, it’s personal preference. But being clear on your primary aim makes the decision easier. Before You Overpay or Invest… Before rushing to overpay your mortgage or jump into investments, take a step […]
What Credit Score Do You Need For A Mortgage In The UK?
What is a Credit Score? Your credit score is a number that represents how reliable you are when it comes to borrowing money and making repayments. It’s calculated based on your credit history–things like credit card payments, past loan repayments, missed bills, etc. The higher the score, the better. Credit reference agencies like Experian, Equifax […]
How To Save For A Mortgage Deposit?
How Much Do You Need for a Mortgage Deposit? We mentioned you’ll typically need at least 5% of the house price to save for a deposit. But the final amount can change depending on the mortgage lender’s view of your finances. They’ll look at your income, credit history, and the type of property you want. […]
