Mortgages
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What is shared ownership?
Read more: What is shared ownership?Shared ownership schemes are a mix of buying and renting. You buy part of the property and rent the other part at a reduced rate. Anyone is eligible for shared ownership providing household income is below £80,000 (£90,000 in London) Once you have bought your initial share you will have an option to buy a…
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What is the Help to Buy scheme?
Read more: What is the Help to Buy scheme?With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. With London Help to Buy the equity loan can increase up to 40%. You won’t be…
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What is a Help to Buy ISA?
Read more: What is a Help to Buy ISA?A Help to Buy ISA is a type of ISA designed to help first time buyers save for their first home. You will receive a 25% bonus on your saving when you use the money to purchase a property, up to a maximum of £3000. The accounts are per person rather than household, the maximum…
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How much deposit do I need?
Read more: How much deposit do I need?Typically the minimum deposit required is 5%. There are a select few 100% options that you could be eligible for from various lenders. The larger deposit you have available the better the interest rate will be available for you. Lenders also see customers with larger deposits to be less risky and may be willing to…
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What will a solicitor cost?
Read more: What will a solicitor cost?To help with the purchase of a property you will need a solicitor their fees will vary from around £800 – £2500 and again can be higher depending on the work required. If you are remortgaging many lenders will cover the cost of the legal work required for you. Once you have bought the property…
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How much will it cost to value my property?
Read more: How much will it cost to value my property?The majority of lenders do not charge to value your property if you are remortgaging and some may also offer a free valuation when purchasing. For those who do charge the fees will be linked to the value of the property and can usually range from £100 – £2,000.
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Do I have to pay all the fees upfront?
Read more: Do I have to pay all the fees upfront?Some mortgage lenders will allow you to add certain fees to the mortgage, typically this is usually the application fee for the mortgage.
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How much will the mortgage lender charge to apply?
Read more: How much will the mortgage lender charge to apply?This varies, but typically a lender will charge a product fee for the mortgage these can range from £0 – £2,000 but can be higher. We disclose all costs before applying for your mortgage.
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What fees will I have to pay to Bennison Brown?
Read more: What fees will I have to pay to Bennison Brown?We charge a £150 application fee, payable once your mortgage application is ready to be submitted. We typically charge a broker fee of £520 on receipt of a mortgage offer. The broker fee can vary depending on circumstances. We will disclose all costs to you before submitting an application so you are fully aware of…
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What happens at the end of my mortgage deal?
Read more: What happens at the end of my mortgage deal?Typically at the end of your initial mortgage deal with a lender you will move on to their Standard Variable Rate. This may mean you are not on the most competitive deal, you may find your monthly payments suddenly increase. Variable rates may increase, making your monthly payment more expensive, however you can move onto…
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Wharf Life Newspaper Appearance
Read more: Wharf Life Newspaper AppearanceMichael Bennison and Andrew Brown appear in Wharf Life Wharf Life newspaper recently interviewed Bennison Brown directors Andrew and Michael to gain an insight into the company values that drive their consistently high service. “Bennison Brown has taken all the good bits from our previous careers and we’ve gotten rid of the bureaucracy so we…
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How Brexit Uncertainty Is affecting House Prices and Interest Rates
Read more: How Brexit Uncertainty Is affecting House Prices and Interest RatesWhat is the latest on Brexit? As a result of the failure to find an agreement in Parliament as to the way forward, Prime Minister Theresa May has asked the European Union to give the UK further time to reach an agreement as to how we will leave the EU. The UK currently faces a…
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Competition Entry
Read more: Competition EntryResults of our five-star celebration giveaway As part of our celebration for receiving over 100 five-star reviews, we decided to give away five £100 Love2Shop gift cards. Thank you to everyone who has helped us reach this milestone. Congratulations to our five lucky winners! Richard Grove Wai Ching Mok Julia Robinson Bo Yang Jig Ramji…
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What Brexit means for homebuyers
Read more: What Brexit means for homebuyersWith all the political turmoil and uncertainty surrounding the UK’s exit from the European Union we look at the potential impact Brexit could have on house prices and interest rates.