First Time Buyers Mortgages
Affordable Mortgages
What Does ‘Affordable Mortgages'
Mean?
All
mortgages should be affordable and what you can afford to pay will be estimated
using forecast income expenses and interest rates. Sometimes based on what rent
you had been paying before if shown to be 'affordable'.
Affordable Rent to Buy Mortgages –
Advantages
Affordability
should not pose a problem as your mortgage repayments will be the same as your
rent.
You could
significantly boost your income multiples.
Affordable Rent to Buy Mortgages –
Disadvantages
As a
tenant, you may not have paid for certain costs that apply to a homeowner, such
as property maintenance and repairs and even Council Tax.
You will still
have to raise a 10% deposit.
The fixed
rate is not very competitive.
Affordable Mortgages Mortgage Advice
All
mortgages should be affordable. Seek mortgage advice.
Features, advantages and disavantages of specific first time buyer mortgages:
100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Family Offset Mortgages l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages l 30, 35, 40 Year Term Mortgages