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Mortgage News

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How to get a self-employed mortgage
Derin Clark

Derin Clark

Online Reporter
Published: 14/05/2021

Someone who is self-employed will often find it tough to get accepted for a mortgage during normal times, but in the current economic climate with mortgage providers becoming more cautious about lending, some may be wondering whether to even try in the first place. While many who are self-employed may find it challenging to get a mortgage at the moment, lenders are still accepting applications from those who are self-employed. As such, those who are looking to move or buy their first home who are self-employed should still go ahead with their mortgage application.

To help make the process easier, we’ve looked at how to get a mortgage as a self-employed person.

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The best residential mortgage rates 14.05.21

Homeowners looking to remortgage can now get a fixed rate deal offering a rate lower than 1%. As well as this, across all the mortgage charts rates continue to be highly competitive, with all the lowest rates currently available in the charts highlighted below.

When looking for a new mortgage deal, borrowers should keep in mind that the lowest rate may not be the best deal for them. Instead, borrowers should consider all aspects of the deal, including product fees and incentives, to ensure that they choose the right deal for their individual financial situation and requirements. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

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Are HMOs a good option for first-time landlords?

When considering a buy-to-let (BTL) investment, one of the main factors that will impact the decision is the expected rental yield. For some landlords, a good way of increasing the potential rent they can gain from a single property is through investing in a house in multiple occupation (HMO) property. Here we take a look at what HMO is, as well as the pros and cons of investing in this type of property.

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Rise in choice for mortgage borrowers

Consumers looking for a new mortgage deal will likely welcome new research which has found that there has been an increase in mortgage deals month-on-month, with deals requiring a small deposit seeing the biggest increase.

The research, which is due to be published in the Moneyfacts UK Mortgage Trends Treasury Report, found that the total number of mortgage deals available to consumers increased by 85 between April and May, up from 3,842 to 3,927.

The number of deals available to those with a 5% deposit or a 95% loan-to-value (LTV), saw the biggest increase, up by 78 month-on-month, from just 34 deals in April to 112 in May. Eleanor Williams, finance expert at Moneyfacts.co.uk, explained this significant increase is due to “providers returning deals to this sector both as part of and outside of the Mortgage Guarantee scheme”. Meanwhile, those with a 10% deposit (90% LTV) will have seen the number of deals available to them increase by 41, up from 440 to 481.

In fact, the number of deals available on all deposit amounts, except those requiring a 20% deposit (80% LTV), increased month-on-month. Those with a 20% deposit (80% LTV), however, will have seen the number of deals available fall by 11, down from 721 to 710.

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The best residential mortgage rates 07.05.21

Mortgage rates in both the remortgage and moving home charts have remained highly competitive this week. Meanwhile, first-time buyers will be pleased to see that choice within this market continues to grow, with Virgin Money announcing it will shortly be offering deals for those with a 5% deposit under the Government’s mortgage guarantee scheme.

Below we’ve highlighted the lowest mortgage rates in the remortgage, moving-home and first-time buyer mortgage charts. Although considering rates is important when choosing a mortgage, borrowers should keep in mind that the lowest-rated deal may not be the best choice for them. Instead, they should consider a range of factors, such as incentives, product fees and flexible features, when considering mortgage deals. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

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The best residential mortgage rates 30.04.21

30th April 2021

Today, the latest Nationwide House Price Index figures were released showing that average house prices had risen to a record high of £238,831

Today, the latest Nationwide House Price Index figures were released showing that average house prices had risen to a record high of £238,831

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Average house price reaches a record high of £238,831 in April

30th April 2021

The housing market continued to boom during April, as the latest Nationwide House Price Index figures show that the average house price has reached a record high of £238,831 this month, up £15,916 over the past 12 months

The housing market continued to boom during April, as the latest Nationwide House Price Index figures show that the average house price has reached a record high of £238,831 this month, up £15,916 over the past 12 months

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Borrowers urged to consider all options before locking into a 5% deposit mortgage deal

27th April 2021

The launch of the Government’s mortgage guarantee scheme last week saw a significant rise in mortgage deals available for those with a 5% deposit, but although this has offered more choice for mortgage borrowers with a small deposit, the rates being offered mean that buyers should carefully consider all options before locking into a 5% deposit mortgage deal

The launch of the Government’s mortgage guarantee scheme last week saw a significant rise in mortgage deals available for those with a 5% deposit

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The Best Residential Mortgage Rates 23.04.21

23rd April 2021

This week saw a number of high street banks launch mortgage deals for those with a 5% deposit under the Government’s mortgage guarantee scheme

This week saw a number of high street banks launch mortgage deals for those with a 5% deposit under the Government’s mortgage guarantee scheme

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Most Popular Mortgage News

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Two and five year mortgage rates hit historic lows

11th May 2020

Although the number of mortgage deals have almost halved since March, the average mortgage rates on two and five-year fixed deals have hit historic lows

Although the number of mortgage deals have almost halved since March, the average mortgage rates on two and five-year fixed deals have hit historic lows

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2020 mortgage interest rates review

21st December 2020

The economic uncertainty caused by the Coronavirus pandemic has had a significant impact on mortgage interest rates this year, with rates falling to record lows as well as increasing year-on-year

The economic uncertainty caused by the Coronavirus pandemic has had a significant impact on mortgage interest rates this year, with rates falling to record lows as well as increasing year-on-year

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The best residential mortgage rates 07.05.21

7th May 2021

Mortgage rates in both the remortgage and moving home charts have remained highly competitive this week

Mortgage rates in both the remortgage and moving home charts have remained highly competitive this week

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Rise in choice for mortgage borrowers

10th May 2021

Consumers looking for a new mortgage deal will likely welcome new research which has found that there has been an increase in mortgage deals month-on-month, with deals requiring a small deposit seeing the biggest increase

Consumers looking for a new mortgage deal will likely welcome new research which has found that there has been an increase in mortgage deals month-on-month, with deals requiring a small deposit seeing the biggest increase

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