What Counts as Income for Mortgage Applications? For mortgage applications, lenders typically consider income as the regular money earned from employment. However, not everyone earns their income this way. Some have “non-traditional” income, like business profits, rental income, or earnings from various jobs at different times, leading to irregular income flows. Complex income refers to […]
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Complex Income Mortgages: A Definitive Guide
Government Schemes Available to First-Time Buyers in 2024
First Homes Scheme Best for: First-time buyers & key workers finding it difficult to afford a home in their local area. Under the First Homes Scheme, you can get a substantial discount of 30% to 50% on new-build homes in England. This is great news if you’re looking to buy your first home but find […]
Help To Buy Mortgages Explained
What is Help to Buy? Help to Buy is a UK government plan to help you buy your first home. If you applied to this scheme before, you can get up to 20% of the money for a new home from the government, or even up to 40% if you’re buying in London. You just […]
The Mortgage Guarantee Scheme Explained
What is the Mortgage Guarantee Scheme in the UK? The Mortgage Guarantee Scheme is a way to help you buy a home with a smaller deposit. Normally, you need a big deposit of at least 10% – 20% to get a good mortgage. But with this scheme, you can have a smaller deposit, and the […]
The First Homes Scheme Explained
What is the First Homes Scheme? Launched in June 2021, the First Homes Scheme helps people like you, first-time buyers and key workers (like nurses, teachers, and police officers), purchase homes in England at a discounted price. Through the scheme, you can get new-build homes, and sometimes even resale properties, for 30-50% less than the […]
Shared Ownership Scheme Explained
What is a Shared Ownership Mortgage? A shared ownership mortgage is a government plan to help you buy your own home more easily. It lets you own part of your home – usually between 10% and 75% of it, and it’s often a new place like a flat or house. The part you don’t own […]
