Is it harder to get a mortgage if you're self-employed? If you’re self-employed, it can be more of a challenge to get a mortgage because you’ll need to prove you have a reliable income. But getting a mortgage when self-employed is certainly not impossible. There are plenty of ways to prove to a mortgage lender that you have a reliable income, it’s usually just a case of jumping through a few extra hoops. What counts as self-employed? Lenders will view you as self-employed if you [...]
What is the First Home Fund? The First Home Fund is run by the Scottish Government and aims to help first-time home buyers purchase a property. Up to £25,000 is available to all first-time buyers towards the purchase of both new build and existing properties. A first-time buyer is anyone who does not own, or has previously owned, a property in Scotland or anywhere else in the world. In order to take part in the scheme, you will be required to provide a minimum deposit [...]
The LIFT (Low-cost Initiative for First-Time Buyers) Open Market Shared Equity (OMSE) scheme has helped over 13,000 people since 2005. Applicants can receive up to 40% funding towards the price of a home on the open market. How does the scheme work? The Scottish Government contributes between 10% and 40% towards the price of a home you have chosen on the open market. For example, if you find a home for £100,000 and can afford to contribute £70,000 (through mortgage and deposit), the Scottish Government could provide the remaining 30% (£30,000). When [...]
We're delighted to announce the launch of our new website. Our new online presence co-insides with the refresh of our brand. It's been a busy few months at Mortgage Advice Solutions and we're sure it will be an even busier 2021. Get in touch with our team today on 0141 370 0480.