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What is an Equity Release Mortgage?

What is an Equity Release Mortgage?

  An equity release mortgage releases the money you have invested in your home. It’s an excellent alternative for homeowners ages 55 and older when their application for a mortgage can not be approved. Check out how it works. The Definition of the Equity Release...
What is a Second Charge Mortgage?

What is a Second Charge Mortgage?

  A second charge mortgage is a loan secured by your home. Just like your original mortgage, it uses your home as collateral but it falls in second lien position. Many people use this instead of remortgaging their home. Before you take out a second loan, you...
What is a Reverse Mortgage?

What is a Reverse Mortgage?

  If you are approaching retirement age, you may wonder how you’re going to get by financially. If you don’t have enough retirement income set up, you may use the investment you’ve made in your home all of these years. A reverse mortgage allows you to tap into...
What is a Mortgage Deed?

What is a Mortgage Deed?

  Your mortgage in principle is not your mortgage deed. Many people confuse the two terms and it’s a detrimental mistake. Without the deed, the mortgage isn’t legal and the property can’t exchange hands. This legal document makes the deal official between you and...
How Long Does it Take to Get a Mortgage?

How Long Does it Take to Get a Mortgage?

  If you need a mortgage to buy a home, you probably want to know how long it takes. While each person is different, on average, expect it to take between 15 and 45 days. The exact time depends on your circumstances and the lender’s workload.  What are the...
How Long Does it Take to Buy a House?

How Long Does it Take to Buy a House?

  You’ve decided to buy a house – congratulations. Unfortunately, it’s not a process that will happen overnight, though. From getting a mortgage in principle to completion day could take several months, depending on your situation.   The timeline we provide below...