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Housing Finance (Conditions to qualify for a mortgage (Credit history,…
Housing Finance
Conditions to qualify for a mortgage
Credit history
Length of mortgage
Deposit
Good investment
Amount to be borrowed
Insurance
Factors to consider when choosing a mortgage
Break from repayment charges
Incentives offered
Type of interest.
Interest Rate
Early repayment charge
Type of mortgage
Endowment mortgage
Pension mortgage
Annuity Mortgage
Mortgage Protection Policy
Insurance company pays the balance of the mortgage in the event of the borrower's death.
Consumer Credit Act 1995 ensures lending institutions provide mortgage protection.