Can I afford a mortgage as prices go up

Can I afford a mortgage as prices go up

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Video transcript

The majority of home surveyors reckon that house prices will continue to rise over the next three months, meaning that mortgage lender, banks and brokers like First Choice Finance will become even more vital for helping you get the property you require.

Fifty-nine per cent of Royal Institution of Chartered Surveyors` (Rics) members think that homes will get more expensive between now and February – the highest level since September 1999.

Many have pointed to the lack of affordable housing being the reason for the continued upturn in prices, with Rics` chief economist Simon Rubinsohn remarking that "as the Chancellor pointed out last week, housebuilding is on the up but it is rising nowhere near quickly enough to make up the shortfall that has built up in recent years".

To find out what mortgages are available to you through us and for a free personal illustration get in touch with us via firstchoicefinance.co.uk or by calling us on 0333 003 1505 on your mobile or 0800 298 3000 from your landline.
 

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Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

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