Mortgages.scot

Is Critical Illness insurance worth it?

Is Critical Illness worth it? That is a question I have received. Not such an easy question to answer as it really depends on the individual and their needs.

Questions

Can't afford to repay interest only mortgage

For many who purchased a house with an interest-only mortgage, particularly those that did so many years ago, in fact up to 25 years ago the time may have arrived when the mortgage is due to be repaid. That is exactly what is approaching for one visitor to the site who is going to be unable to repay and have the desired outcome that was originally promised.

Questions

Will removing the affordability stress test help me?

I have been getting a few questions all with the same theme around the removal of the affordability stress test. Understandably many are still confused as to what it actually means for them when it comes to applying for a mortgage and what the impact or indeed benefits are.

Questions

Is buying a home worth it?

A question from a young man in Inverness contemplating one of the biggest decisions he will face. Should he buy a house? Will he be able to afford it with all the rising costs and so on? These are good questions to be asked and always best asked before actually going ahead.

Questions

Can't get a BTL without providing personal income

A question received on Buy To Let, the visitor has been struggling to get a BTL mortgage with lenders insisting that he provides proof of his own income and outgoings, why?

Questions

Purchasing under Market Value

Purchasing a property under market value does not mean a lender will allow you to use the market value when it comes to LTV. That is what one visitor found out when they thought a bargain home had been found. There are other aspects to purchasing property under market value.

Questions

The effect of missed payments due to COVID

The end is in sight for COVID restrictions. Well, we hope it is. Many have missed payments on a range of accounts due to being furloughed or losing a job. How will it affect you in the future?

Questions

Building insurance for a property lived in by parents

When you own a property that you let your parents live in, even if rent-free, who can take out building insurance cover? Not quite as easy to answer as you may think.

Questions

How much debt will a lender accept for a Mortgage?

When applying for a mortgage the affordability assessment every lender will carry out will be affected by the level of other debt you have. How much debt is too much?

Questions

BTL for Parents refused by the lender

Suppose you buy a property and want to allow your parents or other family members to live in it? Sounds simple and it is unless you need a mortgage on the property. Lenders are not keen on family members being tenants.

Questions

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