Mike Plaster, Author at Millennium Mortgages

What Happens at the End of an Interest-Only Mortgage?

Years ago, choosing an interest-only mortgage might have looked like an attractive option, with spiralling property prices and the benefits of lower monthly repayments. Today, viewed in the light of no equity build and market risks, it’s essential to consider all factors carefully before opting for an interest-only mortgage. Understanding Interest-Only Mortgages So exactly what […]

Mortgage Protection: The Financial Safety Net Too Many Families are Missing

For millions of UK families, owning a home is the cornerstone of financial security. But what happens when life throws you a curveball – an illness, an injury, or even death? These are often the last things we would choose to talk or even think about, however, without a financial safety net in place, that […]

How Much Can Self-Employed Workers Borrow for a Mortgage?

Attempting to secure a self-employed mortgage can prove difficult especially if you’ve only recently become self-employed.

What Stops You from Getting a Mortgage in the UK?

Are you dreaming of owning your own home in the UK? From credit scores to employment history, we’ve covered nine potential hurdles standing between you and approval from a mortgage lender. Poor Credit Score A poor credit report is one of the main things that can stop you from getting a mortgage in the UK. […]

The Mortgage Application Process: Everything You Need To Know

Applying for a mortgage is an exciting time in your life, but it can also be a daunting experience.

Can You Get a Mortgage for Zero Hour Contracts?

According to the Office for National Statistics (ONS), an estimated 1.1 million people in the UK were on zero-hours contracts as their main job from October 2021 to the end of September 2022. This equates to an average of 3.2% of all employment in the UK.

What is a Mortgage Illustration?

At Millennium Mortgages, “What is a mortgage illustration?” is something we get asked all the time. A mortgage illustration outlines all the details of a mortgage and is something your mortgage advisor will talk through with you after they have looked into what options are available. Your mortgage broker will do this prior to submitting […]

Do You Need a Solicitor to Remortgage?

If you’re considering a remortgage, you might not realise that in most instances you will need a solicitor. What does remortgaging mean? Remortgaging is when you swap the existing mortgage on your current property from your current deal and existing lender to another mortgage deal with a different lender. Switching to a different rate with […]

Can You Remortgage Early To Get a Better Deal?

Are you considering remortgaging? Many individuals tend to ignore this option until their current lender reminds them. But, were you aware that you can remortgage earlier than expected?

What do Mortgage Lenders Look for When Assessing My Bank Statements?

Before a mortgage application is accepted, mortgage lenders often need to see your bank statements. This is in order to gain an understanding of your spending habits and current financial situation.

Author: Mike Plaster