Mortgages are necessary if you want to have home ownership in todays society. There are very few of us who can pay cash for a home with the prices being as they are. Well, at MoneyMagic they try to help you understand about the mortgage markets and what you may need to know when going into that home buying decision.
At Money Magic there are many news articles that tell us how the current economy affects each of us and the different aspects of the many happenings in the mortgage markets can either be our foe or be our friend.
One of the news articles on their site that caught my eye was one on how first time home buyers can take advantage of the current home market and buy that home that they have been wanting. This article realizes that in todays environment that it has become increasingly difficult for that first time buyer to get a mortgage that it suitable to their financial needs. The article then goes on to tell inovative ways that young home buyers are being able to use to get the mortgage approval that they need. One of the ways discussed was for the buyer's parents to offer their home as collateral also to get away from the low down payment. This in affect gives a lower loan to value ratio and gives the buyer a chance for a decent product mortgage.
All of these types of ideas can be seen on MoneyMagic website.
Many good ideas that might especially help someone if they are in the UK and in need of a home mortgage.
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