How Much Do You Need For a Mortgage in Northern Ireland?
How Much Do You Need For a Mortgage? As in the rest of the UK, you can borrow up to 4.5 times your total household income for a mortgage (four or five times if you’re a professional). To help you get the best rates and terms for your circumstances, it pays to shop around.
Post Contents
How much do you need for a mortgage?
Lender’s fees: Depending on the lender, you might need to pay several different mortgage-related fees. These can include arrangement fees, product fees, and valuation fees of Mortgages in Belfast. Some lenders will also charge legal fees.
Stamp duty: You might not need to pay stamp duty if you are a first-time buyer and the property costs less than PS425,000. However, if the property costs more than PS625,000, you’ll have to pay 5% of the purchase price in stamp duty.
Tips for Getting Approved for a Cookstown Mortgage
Applying for a Cookstown Mortgage can be a complex process. In this article, we share valuable tips to increase your chances of getting approved for a Mortgage broker, such as improving your credit score, saving for a down payment, and getting pre-approved.
Government schemes:
There are a number of government-backed initiatives that could help you buy your own home in Northern Ireland, including Help to Buy and the Shared Ownership scheme. These schemes are aimed at helping people on low-incomes to get onto the property ladder.
Co-ownership: If you are a first-time buyer, you might be eligible to partner with a housing association to buy a home. This can mean a lower deposit but reduces your monthly repayments too.
Right to buy: If you’ve been a social housing tenant for at least three years, you can apply for a discount on your home’s value, called the Right to Buy. The size of the discount will depend on your location and the type of property you’re looking to buy.
Next PagePrevious Page
Social Media Icons