Getting info on UK mortgages can be quite the undertaking, especially if you live stateside. Getting the wrong mortgage can mean significant financial loss and even repossession (foreclosure). If you’re considering the purchase of UK real estate and you want information on the different UK mortgages available, you’re going to want to read our review about a very helpful UK mortgage information website.
With more and more homebuyers looking for ways to get more house than they have money for, lenders have been happy to oblige their needs. In addition to interest-only loans, now homebuyers can look to a fifty-year mortgage for their financing needs. Those who don’t like the idea of having all of their mortgage payment going towards interest with an interest-only mortgage may be more inclined to spread their mortgage payments out over fifty years if it means they can get a bigger and better home.
In today’s day and age, everyone wants more than they can afford and houses are no exception. Thanks to a mortgage type referred to as an interest only mortgage, home buyers have been able to get into homes that would normally be out of their price range. However, while an interest only mortgage may seem like the ideal solution on the surface, when you dig a bit deeper you may discover that an interest only mortgage isn’t always the best choice.
A reverse mortgage is a concept that can be very attractive to the senior community. When you take out a reverse mortgage, the mortgage doesn’t need to be repaid for the entire time that you live in the home. Instead, the mortgage is paid off when the home is sold. But who can qualify for a reverse mortgage and who should actually get one?
You’ve probably seen the ads and the commercials insisting that you can buy a home with no money down, but can you really do it or is it just another scam? Believe it or not, you really can buy a home with no money down and most of the time there’s nothing fishy about it.
