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How To Rent Book Rent A Home Associates - Rent A Home Associates

Buying your property

Having identified a property that suits your needs and desired location it is necessary to establish how much you can borrow against the property.

We strongly recommend using a mortgage broker who will be able to quickly establish the best loan to meet your personal circumstances.

You will have to establish what budget is required to complete the purchase, this will include the required deposit (balance between agreed purchase price and amount to be borrowed), mortgage arrangement fee, survey fee, solicitors costs and stamp duty (if applicable)

New mortgage Rules

The Financial Conduct Authority (FCA) has introduced new rules April 26th. 2014. Briefly they are:-

Proof of income - for example you may have to show payslips if employed or your accounts or tax returns if self-employed.

Confirming what you spend - the lender will need to know what your financial commitments are

  • Essential expenses that you have to pay, like food, gas, electricity and council tax
  • Basic quality of living costs, like clothes, household goods, leisure and childcare
  • Repayments and other commitments, like credit card bills or hire purchase payments

The details you are asked for will vary between lenders to mortgage experiences you’ve had before

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