Our Mortgage Broker Guide to getting a mortgage in Leyton
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Don't just pay the minimum repayment on your credit cardWhile you should always pay at least the minimum monthly repayment on your credit card and on time, it's very worth paying more than this and doing so will boost your credit score.
Lenders view paying off more than the monthly required minimum sum as evidence of good financial management and inform credit reference agencies accordingly. | Capped MortgageCapped mortgages are variable rate mortgages and the cap comes into play if the rate rises and ensures that repayments cannot rise beyond a certain amount. If the rate falls, then repayments become less.
If you are thinking of taking up a capped mortgage, you need to be sure that you are able to make payments should the rate rise to and stay at the level of the cap: if the cap is set too high, problems can occur as payments become too expensive to accommodate.
Capped mortgages are normally capped for an agreed fixed term and if this is the case you can only leave if you pay a large early repayment charge. Once the fixed term has elapsed, the mortgage is normally converted to one which is variable with the lender's standard variable rate. From this point, there are no penalties for choosing to take up a mortgage of another type. |
Leyton, a predominantly residential area, is in East London, 6 miles north-east of the capital's centre and is a district in Waltham Forest Borough. It includes part of the Queen Elizabeth Olympic Park, which hosted London's 2012 Olympics. Brooks Farm in Skelton Lane Park offers a plethora of activities, many family-orientated; kids can interact with animals on the farm but there are also courses in subjects as diverse as T'ai Chi available.