Moving Home
It's probably been a while since you bought your home and chances are you're like most people out there and can't remember where to begin sorting out your mortgage, or you just want to know more about the new options available.
That's where our guide for Home Movers steps in. We aim to answer all of your questions. We take you through the buying and selling processes step by step, explaining exactly what you need to know in plain English. We tell you exactly what you need to ask your mortgage lender before you sign on the dotted line. We put you in control.
Moving Costs
Stamp duty : The legal aspects of the purchase cannot be ignored - stamp duty licks in at one per cent of the purchase price on properties costing more than ｣60,000, with higher percentage charges on properties costing more than ｣250,000. And you will have to pay solicitors fees. Read more›
Top Tips
1. What types of mortgage are available to me?
Most lenders offer a range of fixed and capped rates, discounts and
flexible mortgages. Some offer base rate tracker mortgages, and some
will give cashbacks. Chat through which deals are available for first-time
buyers, and which will best suit your needs.
2. What would my monthly payments be?
Get quotes on a number of deals too see what your payments would be
and whether they fit your budget. Ask for a quote on what your monthly
repayments would be at 10% interest. If that would be completely beyond
your means, you could be over-stretching yourself.
3. Are there any redemption penalties?
Fixed, capped and discounted deals may carry redemption penalties tying you to the lender after the end of the fixed, discounted or capped period. If there are penalties, find out how long they run for, and how much your monthly payments will be on the lender's standard variable rate. Read more tips on finding the right homeloan ››
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