Homebuy. Information Booklet
|
|
- Buddy Stephens
- 5 years ago
- Views:
Transcription
1 Homebuy Information Booklet
2 Introduction The Homebuy scheme enables MHA to provide an equity loan to someone seeking to buy affordable housing in Monmouthshire. Alternatively it can be used by a MHA tenant to help them purchase the home they live in. Both are subject to the qualifying criteria explained below. Homebuy is intended to help someone who can access and afford a mortgage but is unable to purchase a property to meet their housing need on the open market. It is not intended to help those who can afford to buy a property suited to their housing need, without financial assistance from the government. Nor anyone who is adequately housed but wishes to move to a more expensive location. Any housing stock that originally belonged to Monmouthshire Council before MHA was formed is not eligible for Homebuy. New affordable homes built by MHA with Government funding or delivered as part of Monmouthshire County Council s planning Agreements with private developers are eligible for Homebuy under the Council s Neutral Tenure Policy. Homebuy is separate to either the Preserved Right to Buy or the Right to Acquire (these are only available to social housing tenants). Someone offered a discount under one of these schemes would not be eligible for Homebuy as well. If you are an MHA tenant and would like information on the Right to Buy or the Right to Acquire schemes, please contact our New Homes Team on Homebuy is shared equity, which is not the same as shared ownership. Under shared ownership, buyers purchase a percentage of the property and pay rent for the percentage they don t own; under shared equity no rent is paid. MHA does not operate shared ownership housing, only Homebuy.
3 How does Homebuy work? The scheme works by MHA funding a minimum of 30% or 50% of a property s purchase price. So you would need to fund between 70% to 50% of the purchase price yourself. MHA will advise you on the equity loan percentage that will be available for the property that you are seeking to purchase. After purchasing your home the shared equity loan can be moved up or down by 10% at any time, but by no less than 5,000. To increase the shared equity loan after purchase, MHA would have to give approval (at our discretion). We would not allow the shared equity loan to increase to more than 50%. The entire equity loan can be repaid at any time as well, which means there would be no shared equity left in the property. Any costs related to altering the equity loan amount following purchase would be borne entirely by you. The loan must be repaid in full when the property is sold. It cannot be paid in instalments. The amount paid is the equivalent percentage value of the home when it is sold. There is no annual percentage rate to be paid on the loan. Example: Purchase price of property: 200,000 (open market value) Equity loan provided by MHA: 60,000 (30%) Your mortgage on property: 140,000 Open market value upon sale of property: 260,000 You pay 30% of 260,000 upon sale: 78,000
4 What are the advantages of Homebuy? The equity loan can make purchasing a property significantly more affordable. You do not have to pay any rent for the shared equity loan. If circumstances change and you need to sell, you may be able to continue living in the property if you want to (e.g. children aren t disrupted). MHA may be able to purchase the property. If this happens, you would be given a tenancy agreement and have to pay rent to MHA to continue living at the property. What are the disadvantages of Homebuy? Any improvements that you make to the property to increase its value, will also be reflected in the equity loan upon resale. You are solely responsible for the upkeep of the property including all repairs and maintenance. There are restrictions on the re-sale of the property and you must give MHA the first opportunity to find a purchaser, or possibly buy the property back. You must occupy the property as your only principal home, and you cannot sublet any part off the property without first obtaining written permission from MHA.
5 Am I eligible? To qualify for the scheme, you must first be approved (in writing) by MHA. In considering your application, we will use Welsh Government rules currently in place at the time that you apply. As a guide, you will need to meet at least the following requirements: You must be able to show us that you cannot afford to buy a home suitable for your needs without help from Homebuy. MHA can turn you down if you could afford to buy a home without help. MHA will complete a financial assessment, based on Welsh Government guidance to assess your housing affordability. You will need to provide proof of your earnings and savings and proof that you have a mortgage in principle offer from a bank of building society. You must be able to obtain a mortgage (with a qualifying lender that will offer a Homebuy mortgage) to cover your contribution. You must also have sufficient savings to cover other costs associated with buying a home, such as solicitor s fees. You must not be receiving housing benefit or the housing element of universal credit, nor have received these 12 months prior to applying for Homebuy. You are not eligible for Homebuy if you already have a financial interest in another property (e.g. due to a previous relationship breakdown). If there is, you must sell this interest before applying to buy a home through Homebuy. N.B. the sale could affect your financial assessment, making you ineligible for Homebuy. The home you want to purchase must be suitable for your current housing needs. The home you buy must be your sole place of residence. If you are a social housing tenant you must not be in rent arrears or in breach of your tenancy agreement in any other way. If you are a MHA tenant and buying the property you are living in, then it will need to have been your principal home for at least the previous 12 months.
6 Additional criteria if you are not a MHA tenant In addition to the above, you would also need to: Provide a reservation fee of to MHA, to secure the home you want to purchase (the 350 is taken off the purchase price when you buy the property, so you don t lose it). Local Connection Can I buy with someone else or on my own? Joint applicants can purchase together provided your joint income and savings do not enable you to buy a home outright. A joint application will not qualify unless all parties are to jointly own the home. A Deed of Trust providing rights of occupation for a qualifying applicant is unacceptable as an alternative to becoming a joint legal owner. What if I hold a joint tenancy agreement with MHA but I want to purchase on my own? MHA will agree to this, providing that both parties sign to agree that only one tenant is purchasing on the Homebuy application form. MHA will, however, still take joint finances and circumstances into account, including any interest in another property, when deciding eligibility for Homebuy. N.B. A joint tenant who is not purchasing on the Homebuy application will have their right to occupancy change; the joint tenancy will end at the point of purchase and your legal rights will be affected. If you are not clear on what this means you should take independent advice.
7 What are my responsibilities if I buy? You will be responsible for all legal and other costs e.g. stamp duty; legal and land registry fees; survey fees. You will be responsible for the cost of getting a Homebuy mortgage and mortgage repayments. Also potentially mortgage repayment protection insurance. You will need to pay council tax. You will need to pay utility bills. You may need to pay service connection fees. You may need to pay removal costs. You will need to pay for all repairs and maintenance. You must notify MHA and obtain our written approval to make any alterations or improvements to the property. You will need to maintain your home to a good standard. You will be responsible for buildings and contents insurance. NB: If you purchase a flat, MHA will insure the building (not contents of a flat) and apportion the cost between owners of flats. Depending on the property you are purchasing, you may be responsible for service charges (such charges would be explained before you chose to purchase the property). MHA will provide an equity loan and pay for an independent valuation of the property you are buying. We will not assist you with any other costs associated with purchasing your home. Remember, your home is at risk of repossession if you do not keep up your payments on a mortgage or any other debt secured on it.
8 Should I seek independent advice? You should definitely take independent advice to clearly understand costs and obligations before committing to purchasing through Homebuy; associated costs are the same as buying on the open market. For the purposes of the Homebuy scheme a mortgage must be obtained from a lender offering Homebuy mortgages. Applicants should not incur any costs in obtaining a mortgage until the lender offering to provide the mortgage has confirmed they can do so. What if the person buying through Homebuy passes away? If someone who buys through Homebuy dies and a member of their family or their partner is left, they may take over ownership and continue to live in the home. If so, the costs of running the home and keeping up the mortgage repayments will normally transfer to whoever goes on living in the home. If not, the home will be sold to repay the outstanding equity loan, under the terms of the Homebuy agreement. You may wish to take out insurance that pays off the mortgage on death, although you do not have to.
9 What should I do if I want to sell or repay the equity loan? If you want to sell your home you will need to inform MHA as soon as possible. An independent valuation of your home will need to be arranged. You will be responsible for all valuation, legal and administrative costs payable in connection with any sale, or change to your equity loan. MHA has a maximum of 3 months to find another buyer on our Homebuy waiting list. Or alternatively we could choose to buy the property back. If after 3 months this did not happen, you would be able to sell the property on the open market. It would have to be sold under the same criteria as you bought under though (the shared equity loan would be recycled into the new purchase). The new buyer(s) would have to complete a Homebuy application and be checked for eligibility by MHA first, for the sale to allowed. You cannot sell the property on the open market if MHA informs you they have secured a buyer. The sale price will be dependent on an independent valuation. You may request a second independent valuation if you would like one, although you will be responsible for the cost of both. Upon sale you will repay the equity loan in full. If you sell on the open market you would be required to market the property through an estate agent and would be responsible for all fees and associated costs.
10 What happens if the property is left in a poor state of repair if you sell? When you buy your home you will sign to agree the condition of the home at the point of purchase. If you do not keep you property in the same repair, any valuation that is carried out on the property will be completed as if you kept the property in the state of repair you committed to, when you purchased the property. You will either be required to return the property back to its original condition or the price of making good will be deducted from your portion of the sale price upon sale of the property. NB: If you are a MHA tenant we will continue to carry out qualifying repairs on your property whilst your Homebuy application is being processed. How can I apply for Homebuy? Complete and return the application form in the pre-paid envelope. Supply identification. Provide bank statements and wages slips as applicable for the last three months (including for joint applicants). Provide a mortgage in principle certificate, which confirms the lender will provide a Homebuy mortgage. MHA will ask for further information or evidence to support your application as required.
11 Who can I contact for further information???? Summary of the MHA Homebuy Purchasing Process Check if you qualify Take independent advice on purchasing a home Complete and return the application form Supply evidence to support the qualifying checks MHA confirms in writing whether or not you qualify You confirm the property that you re buying Legal representative instructed and mortgage arranged Valuation and conveyancing carried out. Timeframe for purchase agreed Legal documentation signed, equity loan paid and home is purchased
12 Monmouthshire Housing Association Nant-Y-Pia House, Mamhilad Technology Park Mamhilad, Monmouthshire, NP4 0JJ facebook.com/monmouthshire.housing twitter.com/mon_housing Scan the QR code to access the MHA website. MHA0668
Hafod Housing Association A Guide to Homebuy. A Guide For First Time Buyers
Hafod Housing Association A Guide to Homebuy A Guide For First Time Buyers Hafod Housing Association Limited is authorised and regulated by the Financial Conduct Authority April 2014 1 What is Homebuy?
More informationA guide for applicants in Wales
. J.\ -:i/..)/ -. llywodraeth Cynulliad Cymru Welsh Assembly Government. A guide for applicants in Wales Important - Information on repaying the Homebuy loan When you sell the home you buy through the
More informationA guide for applicants in Wales
A guide for applicants in Wales Important - Information on repaying the Homebuy loan When you sell the home that you buy through the Homebuy scheme, you have to repay the loan you took from the registered
More informationDO IT YOURSELF HOMEBUY SCHEME
DO IT YOURSELF HOMEBUY SCHEME Charitable Housing Association 54 Stryd y Dyffryn, Dinbych, LL16 3BW HOMEBUY THIS BOOKLET TELLS YOU ABOUT: What is Homebuy? Page 3 How Homebuy works Page 4 Who is eligible
More informationHelp to Buy Buyers Guide
Help to Buy Buyers Guide Homes and Communities Agency http://www.homesandcommunities.co.uk/helptobuy August 2015 Page 1 of 20 August 15 What is Help to Buy? Help to Buy is equity loan assistance to home
More informationA form issued by the Help to Buy Agent, authorising you to proceed with the purchase of a home through the Help to Buy Equity Loan scheme.
Jargon Buster Annual percentage rate (APR) The total cost of a loan including all costs, interest charges and arrangement fees which are shown as a percentage rate and easily comparable with mortgage interest
More informationThe Key Worker Living guide to Homebuy. settle for more. Homebuy - the equity loan scheme for key workers
The Key Worker Living guide to Homebuy settle for more Homebuy - the equity loan scheme for key workers This is your guide to buying a property through the Key Worker Living Homebuy scheme. Homebuy is
More informationCymorth i. Buy -Wales. Cefnogir gan Lywodraeth Cymru Supported by Welsh Government. Help to Buy Wales. Buyers Guide.
Cymorth i Brynu - Cymru Help to Buy -Wales Cefnogir gan Lywodraeth Cymru Supported by Welsh Government Help to Buy Wales Buyers Guide www.helptobuywales.co.uk 2 Help to Buy Wales Buyers Guide What is Help
More informationA guide to your second charge mortgage
Second charge mortgages DECEMBER 2016 A guide to your second charge mortgage Mortgage terms and conditions Introduction This booklet contains the second charge mortgage terms and conditions for Paragon
More informationMortgage Conditions Scotland
Mortgage Conditions 2014 Scotland Ecology Building Society Mortgage Conditions 2014 Contents 1 Interpretation................................................. 2 2 Provisions for payment.........................................
More informationIntroduction. lifetime mortgages Terms and Conditions. Thank you for choosing a Just lifetime mortgage.
2017 Edition lifetime mortgages Terms and Conditions Just is a trading name of Just Retirement Money Limited. Where you see Just in this form, this means Just Retirement Money Limited. Introduction Thank
More informationINFORMATION FOR MORTGAGE CUSTOMERS.
INFORMATION FOR MORTGAGE CUSTOMERS. WELCOME TO YOUR GUIDE TO HALIFAX MORTGAGES. Fold back this page for a brief summary of key mortgage features. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP
More informationMORTGAGES. TSB Mortgage Conditions 2013
MORTGAGES TSB Mortgage Conditions 2013 TSB Mortgage Conditions 2013 Please read! We know that having to read a legal contract can be off putting, so we ve decided to do things differently. This booklet
More informationMortgage Conditions: These conditions and the mortgage offer are important documents. Please keep them safe.
Mortgage Conditions: 2009 These conditions and the mortgage offer are important documents. Please keep them safe. This booklet contains the terms and conditions which apply to your mortgage. These conditions:
More informationMortgage Jargon Buster.
Mortgage Jargon Buster. Buying or selling a property can sometimes trap you in a blizzard of jargon. To get you off to a flying start, here s a handy glossary of home moving terms to help get you from
More informationHelp to Buy Buyers Guide
Help to Buy Buyers Guide Homes England http://www.homesengland.gov.uk/helptobuy Page 1 of 29 Contents Key information... 3 What is Help to Buy?... 4 Help to Buy overview... 5 How does it work?... 6 Who
More informationInformation for mortgage customers. Mortgages
Information for mortgage customers. Mortgages Hello. This is your guide to TSB mortgages. This guide provides lots of information about our mortgages. Some of it is relevant to everyone but some of it
More informationSCOTTISH WIDOWS BANK MORTGAGE CONDITIONS 2017
SCOTTISH WIDOWS BANK MORTGAGE CONDITIONS 2017 PLEASE READ WE KNOW THAT HAVING TO READ A LEGAL CONTRACT CAN BE OFF PUTTING, SO WE HAVE DECIDED TO DO THINGS DIFFERENTLY. THIS BOOKLET CONTAINS: A brief explanation
More informationMortgage Offer Conditions: 2006
Mortgage Offer Conditions: 2006 These are the conditions which apply to your mortgage offer. These conditions and the mortgage offer are important documents. Please keep them safe. You should read these
More informationShared Ownership Step by Step Guide SHARED OWNERSHIP STEP BY STEP. your guide to the scheme.
SHARED OWNERSHIP STEP BY STEP your guide to the scheme www.rooftopgroup.org 1 INTRODUCTION The average home in the West Midlands costs nearly nine times the average local wage and private sector rents
More informationHomeownership Assistance Equity Loan Scheme
Homeownership Assistance Equity Loan Scheme Catalyst Housing covers London and the South East of England. Elmbridge Borough Council Equity Loan Scheme Low-interest equity loan mortgages are designed to
More informationINFORMATION ABOUT YOUR MORTGAGE: A GUIDE TO MORTGAGES ON PROPERTIES TO BE LET
INFORMATION ABOUT YOUR MORTGAGE: A GUIDE TO MORTGAGES ON PROPERTIES TO BE LET INTRODUCTION This guide gives details of our mortgages and is split into two parts: The first part is useful for customers
More informationMortgage Terms and Conditions (T&Cs)
Mortgage Terms and Conditions (T&Cs) Banking with Atom is straightforward, so we ve split our T&Cs into three manageable chunks: General T&Cs; Product T&Cs; and product specific documents, based on the
More informationThinking of buying your Havebury home? Information about home ownership and purchase. A guide to the preserved right to buy
Thinking of buying your Havebury home? Information about home ownership and purchase A guide to the preserved right to buy Introduction This document is published to provide you with information about
More informationBANKRUPTCY. Freephone. FACTSHEET 10 (2018)
What is Bankruptcy? Freephone 0800 083 8018 1 FACTSHEET 10 (2018) Bankruptcy is a way of dealing with debts that you cannot pay. Whilst you are bankrupt any assets that you have might be used to pay off
More informationHomeownership Assistance Equity Loan Scheme
Homeownership Assistance Equity Loan Scheme Assisting aspiring homeowners to get on to the property ladder Catalyst Housing (Catalyst) is a leading housing association delivering affordable homeownership
More informationGeneral Mortgage Conditions
General Mortgage Conditions 2016 (Scotland) 0800 298 5714 precisemortgages-customers.co.uk Contents Condition Number Page Number Part 1: Understanding These Conditions 4 1 Definitions 4 Part 2: Your Agreement
More informationMortgage Conditions nd Edition
Mortgage Conditions 2004 2nd Edition Summary of main points Parts 1 and 2 Part 1 GENERAL MORTGAGE CONDITIONS applies to your mortgage in every case. Part 2 - FLEXIBLE OPTIONS CONDITIONS applies if your
More informationTerms and Conditions of the Lifestyle Flexible Option Edition 4
Terms and Conditions of the Lifestyle Flexible Option Edition 4 Retirement Investments Insurance Health Contents Section 1: General information 3 Section 2: Cash Reserve 3 Section 3: Interest 4 Section
More informationunderstand shared ownership
Helping you understand shared ownership 1 Your So Resi journey Making sure you have simple, clear information as you buy your own home Helping you understand shared ownership About buying your So Resi
More informationTariff of Mortgage Charges
Effective 25th May 2018 Monmouthshire Building Society is closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders and Which? to make our fees and charges easy for you
More informationHomebuy Application Form
Homebuy Application Form Surname First Name(s) Date of Birth Home Address SECTION 1 APPLICATION DETAILS Postcode Telephone number(s) Email Please list all people who will be permanently living with you
More informationTariff of Mortgage Charges Effective 8th January 2018
Effective 8th January 2018 Monmouthshire Building Society is closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders and Which? to make our fees and charges easy for
More informationMortgage Terms and Conditions (T&Cs)
Mortgage Terms and Conditions (T&Cs) Mortgage T&Cs_v1.3_16-03-18 GENERAL INFO Our agreement When you have a mortgage with Atom, the Agreement between us consists of: Your mortgage application; Our App
More informationBUYING A SHARED OWNERSHIP PROPERTY. Step Forward Housing Buying a Shared Ownership Property
BUYING A SHARED OWNERSHIP PROPERTY 1 CONTENTS 4. What is Shared Ownership 5. Why buy with Step Forward Housing? 6. What am I buying? 7. Register with us 8. Eligibility 9. Financial assessment 10. Arranging
More informationINFORMATION ABOUT YOUR MORTGAGE.
INFORMATION ABOUT YOUR MORTGAGE. WELCOME TO YOUR GUIDE TO HALIFAX MORTGAGES. Please read this booklet alongside your mortgage conditions and offer letter. It explains our most often used policies and procedures.
More informationRepayment of loan The maximum amount we can lend is 50% of the purchase price of the property. The minimum amount is 25%.
RE: FUNDING FOR HOMEBUY SCHEME We are pleased to inform you that we have some funding to assist applicants to purchase a property of their own choice on the open market through the Conwy County Borough
More informationThe Mortgage Works (UK) plc
The Mortgage Works (UK) plc Standard Security In this Standard Security the expressions set out below have the meanings respectively set opposite to them:- The Borrower The Company The Property Where the
More information55+ Mortgage & Retirement Mortgage
55+ Mortgage & Retirement Mortgage Tariff of Mortgage Charges 55+ Mortgage & Retirement Mortgage Tariff of Mortgage Charges Hodge Lifetime is closely involved in the mortgage industry s initiative with
More informationEquity Release Lifetime Mortgages. Making your property work for you in retirement
Equity Release Lifetime Mortgages Making your property work for you in retirement Contents 03 Getting more out of your retirement 04 What is a lifetime mortgage? 05 Some things to consider 08 Alternatives
More informationBuying a resale property
We can help with Buying a resale property www.familymosaicsales.co.uk WE CAN HELP WITH BUYING A RESALE PROPERTY www.familymosaicsales.co.uk PAGE 1 Contents Buying a resale property 3 Why buy through a
More informationLump Sum Lifetime Mortgage
Lump Sum Lifetime Mortgage Terms and Conditions Version 1.2 Lump Sum Lifetime Mortgage Terms & Conditions Version 1.1 Thank you for choosing Hodge Lifetime our aim is to give you security and peace of
More informationShort Term Lending Customer information
Short Term Lending Customer information About your mortgage 0800 116 4385 precisemortgages-customers.co.uk Introduction We have provided this Customer Information Booklet with your Mortgage Offer to help
More informationTerms and Conditions of the Lifestyle Lump Sum Max - Edition 4
Terms and Conditions of the Lifestyle Lump Sum Max - Edition 4 Retirement Investments Insurance Health Contents Section 1: General information 3 Section 2: Interest 3 Section 3: When you have to repay
More informationBenefits Based Borrowing. A guide for disabled people using their benefits to buy property suited to their needs.
Benefits Based Borrowing A guide for disabled people using their benefits to buy property suited to their needs. Introduction Many disabled people rely on state benefits for part or all of their income
More informationCustomer information. About your mortgage. precisemortgages-customers.co.uk
Customer information About your mortgage precisemortgages-customers.co.uk Introduction We have provided this Customer Information Booklet with your Mortgage Offer to help explain the Mortgage Offer and
More informationMortgage Conditions 2007
Mortgage Conditions 2007 Summary of main points Parts 1 and 2 Part 1 GENERAL MORTGAGE CONDITIONS applies to your mortgage in every case. Part 2 flexible options CONDITIONS applies if your mortgage includes
More informationFlexible Lifetime Mortgage
Flexible Lifetime Mortgage Terms and Conditions Version 1.2 Flexible Lifetime Mortgage Terms & Conditions Version 1.2 Thank you for choosing Hodge Lifetime our aim is to give you security and peace of
More informationYOUR GUIDE TO SCOTTISH WIDOWS BANK MORTGAGES
INFORMATION ABOUT YOUR MORTGAGE YOUR GUIDE TO SCOTTISH WIDOWS BANK MORTGAGES Please read this booklet alongside your mortgage conditions and offer letter. It explains our most often used policies and procedures.
More informationGeneral Mortgage Conditions
General Mortgage Conditions England and Wales 2013 Introduction Over the following pages, you ll find the general conditions of your mortgage. This booklet is very important because it forms part of the
More informationHelp to Buy Buyer s Guide
Help to Buy Buyer s Guide Homes and Communities Agency 8 April 2013 http://www.homesandcommunities.co.uk/help-to-buy Page 1 of 21 What is Help to Buy? Help to Buy is equity loan assistance to home buyers
More informationFactsheet 29. About this factsheet and who it is for. Advice for older people Equity Release
BCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz1234567890! $%^&*()_+=-{}:@~?>
More informationQ & A for key workers
Q & A for key workers Please see below for some frequently asked questions about the Key Worker Living Scheme. Full detail can be found at the department for Communities and Local Government website at
More informationTariff of Mortgage Charges
Tariff of Mortgage Charges 0800 298 5714 precisemortgages-customers.co.uk Precise Mortgages is closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders and Which? to
More informationOUR GUIDE TO BUYING, REMORTGAGING AND PROTECTING YOUR HOME
1 AND PROTECTING YOUR HOME A HELPING HAND WITH OWNING YOUR HOME. Taking on the purchase of a house can be daunting. With this step-by-step guide, we hope to make the journey a little less overwhelming.
More informationGUIDE TO A MORTGAGE. Your mortgage is a serious commitment which you should not undertake without careful consideration.
MORTGAGE *first class service, every time... GUIDE TO A MORTGAGE This information guide should be read in conjunction with your mortgage offer. It is by no means a definitive guide to mortgages but we
More informationBUY-TO-LET MORTGAGE TERMS AND CONDITIONS 2018
01 YOUR MORTGAGE AGREEMENT 1.1 Your mortgage agreement with us is made up of these Terms and Conditions, your Mortgage Application Declaration, your Offer Letter (including, where applicable, the Special
More informationStandard Mortgage Terms and Conditions. May 2018 Edition
Standard Mortgage Terms and Conditions May 2018 Edition Terms and Conditions Mortgages Contents Introduction 03 Definitions 04 Interpretation and application 05 Acting in joint names 05 Withdrawal of offer
More informationLifetime Mortgage Terms & Conditions
Lifetime Mortgage Lifetime Mortgage England & Wales Retirement Advantage is a trading name of Stonehaven UK Ltd. Authorised and regulated by the Financial Conduct Authority. Registered in England and Wales.
More informationTariff of Mortgage Charges
Tariff of Mortgage Charges Landmark is closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders to make our fees and charges easy for you to understand. Our tariff of
More informationRemortgage Conveyancing Journey
Your Remortgage Conveyancing Journey Conveyancing made simple... Your Remortgage Journey What is our role? We act as Conveyancers on behalf of your new lender and are responsible for transferring the mortgage
More informationBenefits Based Borrowing. A guide for disabled people using their benefits to buy property suited to their needs.
Benefits Based Borrowing A guide for disabled people using their benefits to buy property suited to their needs. Introduction Many disabled people rely on state benefits for part or all of their income.
More informationTariff of Mortgage Charges
Tariff of Mortgage Charges Skipton Building Society is closely involved in the mortgage industry s initiative with UK Finance and Which? to make our fees and charges easy for you to understand. Our tariff
More informationTopic 5 Sources of Finance. N5 Business Management
Topic 5 Sources of Finance N5 Business Management 1 Learning Intentions / Success Criteria Learning Intentions Sources of finance Success Criteria By end of this topic you will be able to describe: sources
More informationMortgage Account Charges. The charges you may need to pay in connection with your mortgage
Mortgage Account Charges The charges you may need to pay in connection with your mortgage Tariff of Mortgage Charges NatWest is closely involved in the mortgage industry s initiative with the Council of
More informationInformation about your mortgage. Mortgages
Information about your mortgage. Mortgages Hello. This is your guide to TSB mortgages. Please read this booklet alongside your mortgage conditions and offer letter. It explains our most frequently used
More informationCar Finance. What all car finance has in common is that the loan is secured on your car, meaning that
Car Finance Car Finance comes in several varieties with confusing names. It is important to understand the features of each and whether they would suit you before looking at the quotes. Car Finance can
More informationUpdated 1 January MBS Lending TARIFF OF MORTGAGE CHARGES
Updated 1 January 2018 MBS Lending TARIFF OF MORTGAGE CHARGES 1 2 TARIFF OF MORTGAGE CHARGES Effective 1 January 2018 MBS Lending is working closely with the mortgage industry and Which? to make fees and
More informationTariff of Mortgage Charges
Tariff of Mortgage Charges Bradford & Bingley and Mortgage Express are closely involved in the mortgage industry s initiative with the Council of Mortgage Lenders and Which? to make our fees and charges
More informationA guide to your mortgage
A guide to your mortgage Residential mortgages PAGE 1 OF 40 A straightforward guide to your new Paragon mortgage This guide takes you through what happens when you purchase a new home and take out a mortgage
More information1. Remortgaging: The Basics
Remortgage Guide There are many reasons why you might want to remortgage your home, but have been hesitant to do it. We ve created this remortgage guide to show you that remortgaging your home can actually
More informationCity of London Corporation. Department of Community & Children s Services. Housing Service. Estate Parking & Storage Sheds Policy
City of London Corporation Department of Community & Children s Services Housing Service Approved by: Approval Date: Review Date: Housing Management & Almshouses Sub-Committee 2 1. Introduction The City
More informationTARIFF OF MORTGAGE CHARGES. Modern mortgages Traditional service
TARIFF OF MORTGAGE CHARGES Modern mortgages Traditional service HINCKLEY & RUGBY BUILDING SOCIETY TARIFF OF CHARGES FOR MORTGAGES 1st January 2019 Hinckley & Rugby Building Society charges mortgage applicants
More informationyears INTEREST ONLY MORTGAGES
HOMEBUYER S GUIDE Buying a new home can be a potentially daunting process so we ve prepared this step-by-step guide to help you. It outlines the buying process and gives a guide to the different types
More informationShared Ownership Application Form
Shared Ownership Application Form Please complete this application form using block capitals in black ink. We will be unable to consider your application unless all sections are fully completed. Please
More informationImportant things to know about your mortgage. General Mortgage Conditions
Important things to know about your mortgage General Mortgage Conditions 2019 General Mortgage Conditions 2019 1 We ve been helping each other buy homes since 1884 Although times have changed since 1884,
More informationmortgages Helping Landlords - The Mansfield s guide to Buy to Let mortgages
mortgages Helping Landlords - The Mansfield s guide to Buy to Let mortgages Helping Landlords - The Mansfield s guide to Buy to Let mortgages If you re considering becoming a buy to let landlord or looking
More informationHome Purchase Plan. Product information. alrayanbank.co.uk
Home Purchase Plan Product information alrayanbank.co.uk Sharia compliant, flexible, aordable home finance Unlike a conventional mortgage where the purchaser borrows money from a lender which is then repaid
More informationYour homeowners handbook
Your homeowners handbook Everything you need from our administration fees to staircasing. Just select what you need from the clickable links below. Home ownership administration fees 2018/19 Panel of surveyors
More informationCare Home Guide: Funding
Care Home Guide: Funding CONTENTS Introduction 1 Care needs assessment 2 Care home funding assessment 4 Financial assessment Capital 7 Treatment of the value of your home as capital 10 Council deferred
More informationApplication form for affordable home ownership
FOR OFFICE USE ONLY Unique reference number: Application form for affordable home ownership Please fill in this form in BLOCK CAPITALS using black ink then send it to the address at the back of the form.
More informationCode of practice for recovering domestic water debt
Code of practice for recovering domestic water debt Contents 2 What to do if you can t pay your bill 3 How we can help 5 How to pay 7 What if you don t pay the bill or don t keep to an agreement? 9 What
More informationGuide to trusts. A brief guide to Trusts and our Trustbuilder tool. Trusts the basics. Settlor makes a gift to the trust
Guide to trusts A brief guide to Trusts and our Trustbuilder tool This brief guide explains some of the main features and benefits of our trusts, and gives you some information to help you decide whether
More informationMortgages... giving you the choice
Mortgages... giving you the choice About us Established in 1890, when it was known as The Salvation Army Bank, Reliance Bank Limited is built upon caring foundations that remain as strong as ever. The
More information(ENGLAND AND WALES ONLY)
LEEDS BUILDING SOCIETY REQUIREMENTS IN RESPECT OF SHARED OWNERSHIP SCHEMES/SHARED EQUITY LOAN SCHEMES/SECTION 106 AGREEMENTS/PROPERTIES PURCHASED AT A DISCOUNT (ENGLAND AND WALES ONLY) If the property
More informationLending Criteria. Standard Residential Read in conjunction with General Criteria
This list is not exhaustive. Please contact us to discuss your requirements Standard Residential Age: Minimum: 18 Term: Maximum: 35 years or the number of years it will take (the eldest) applicant to reach
More informationSubletting. Leasing or renting all, or part of your home to another person. Information for leaseholders
Subletting Leasing or renting all, or part of your home to another person Information for leaseholders What is subletting? Subletting is the term used for leasing or renting out part of your home to another
More informationMortgage advice you can depend on
Mortgage advice you can depend on Whether buying your first home, buying to let, or remortgaging it s a big commitment. This guide aims to help you understand what you need to think about making you feel
More informationCustomer Information Booklet Mortgages
Customer Information Booklet Mortgages Please remember you are recommended to seek interdependent or other professional advice before entering into this agreement with Masthaven Bank Limited which will
More informationMortgage Assessment Questionnaire
UNIQUE FINANCIAL SOLUTIONS Mortgage Assessment Questionnaire Telephone: 01273 495420 Email: info@rhluk.co.uk website: www.rhluk.co.uk THIS IS FOR INTERMEDIARY USE ONLY AND HAS NOT BEEN APPROVED FOR PUBLIC
More informationMortgages. Mortgage Guide. Finding the right mortgage for you
Mortgages Mortgage Guide Finding the right mortgage for you Skipton Building Society is here to help you whether you re thinking of buying your first home, buying an investment property, looking to move
More informationHelp to Buy Buyer s Guide
Help to Buy Help to Buy Buyer s Guide www.taylorwimpey.co.uk/helptobuy What is Help to Buy? Help to Buy is an equity loan assistance scheme for home buyers from the Homes and Communities Agency (HCA).
More informationE F F E C T I V E 1 J A N U A R Y, IMB
Personal Loan TERMS AND CONDITIONS E F F E C T I V E 1 J A N U A R Y, 2 0 0 2 IMB Ltd ABN 92 087 651 974 Personal Loan Terms and Conditions This document does not contain all the contract terms or all
More informationEquity Release. Quick reference Guide Chapter 4. By the end of this guide you will understand the range of product providers and customer types.
Equity Release Quick reference Guide Chapter 4 By the end of this guide you will understand the range of product providers and customer types. Product providers and customers Definitions Here are some
More informationFirst-time Buyers Guide to the Mortgage Application Process
First-time Buyers Guide to the Mortgage Application Process A Typical Mortgage Application Process Applicant applies through lender / broker Online Telephone In person Initial assessment by lender Lender
More informationUniversal Credit claimant guide
Universal Credit claimant guide What is the Universal Credit service? Universal Credit claimant housing guide Universal Credit claimant housing guide If you pay rent to a local authority, council or housing
More informationHSBC Mortgage Loan Terms and Conditions Edition
HSBC Mortgage Loan Terms and Conditions 2017 Edition 2 IMPORTANT PLEASE READ THIS FIRST These conditions are an important part of the legal agreement between us for your mortgage. We recommend that you
More informationGUIDE TO OUR MORTGAGE & PROTECTION SERVICES. Affordable and sustainable solutions designed for you
GUIDE TO OUR MORTGAGE & PROTECTION SERVICES Affordable and sustainable solutions designed for you 2 GUIDE TO OUR MORTGAGE & PROTECTION SERVICES Contents Intrinsic shares our values and beliefs about being
More informationMortgage advice you can depend on
Help to Buy Mortgage advice you can depend on Whether buying your first home, or a homeowner looking to move, Help to Buy schemes help people take steps to buy a home. This guide aims to help you feel
More informationMortgages Explained. with effect from 6 April Newbury Building Society
Mortgages Explained with effect from 6 April 2018 Newbury Building Society Contents What is a mortgage? 4 How do I get a mortgage? 4 What types of mortgages are available? 7 What is the process involved
More information