miscellaneous

Can I buy a property and rent it out straight away? If you are a homeowner, the terms of your mortgage may not allow you to rent out your home unless you obtain something called consent to let. Letting out a room without the permission of your lender is classed as mortgage fraud, even if […]

What is mortgage relocation program? The relocation mortgage (relo) is a type of alternative mortgage product designed explicitly for relocating and transferring employees as part of an incentive package. Relocation mortgages often involve financial contributions by the employer as part of the package. Is it hard to get a mortgage when relocating? Pre Approve for

How does buying a house and selling a house at the same time work? For people who need the proceeds from one sale to move forward with an offer on a new house, that’s where an offer contingency comes in. It essentially means the homebuyer has a set amount of time to sell their current

Is it better to sell your house before buying another? Selling first is beneficial if you need to access your current home equity to buy your new home. However, selling first often requires temporary housing while buying your new house. From a real estate market standpoint, selling before buying makes the most sense for people

Can I keep my current house and buy another? You’ll usually need a bigger deposit to take out a mortgage on a second property. That’s because it’s considered a higher risk for the lender when you have two mortgages to keep up with. Most lenders will only offer you a second mortgage of up to

Is it better to buy a house before selling? Buying before selling is often seen as a riskier strategy, however, it could be a good option particularly if you’ve built up significant equity or have a large amount of cash. If this is the case bridging finance could be an option to help you buy

Can you get a second mortgage to buy another house? Yes, you can get another mortgage if you already have one, and there are plenty of lenders who can offer great deals on any second mortgage you wish to take out. Like your first mortgage, your additional/second mortgage is a loan that’s secured against your

Can I use my paid off house to buy another house? Yes, you can use the equity in your current home to buy a second home. Many people do this by taking a cash-out refinance on their house and using the withdrawn money to make a down payment on a second home. What happens when

Can you buy a house and not live in it? There is one catch, however, FHA loans require that you live in the property you seek to purchase. To get around that rule, you can purchase a property with up to four rental units and make one unit your primary residence. Can you live in

Can you get a loan if you just started a new job? Perhaps the most important factors that qualify an applicant for a loan are employment and income. Lenders value employment so much that you can qualify for a loan if you just started a new job or even if you only have an offer