Life Insurance - plan for your future now

It can be difficult to force yourself to think about it sometimes, but the best time to worry about life insurance is right now. Here’s a guide for the importance of getting a life insurance policy and how to go about doing this.

 

The Importance of the New

The reason why it’s a good idea to look at insurance quotes sooner rather than later is because you want to do this while you’re healthy so that you get a good rate. Tomorrow really isn’t promised to anyone, and no one knows what’s going to happen in the future.

 

You will sleep a lot better at night if you focus on getting a policy lined up and out of the way so that you know that if anything happens to you, your family will be taken care of and they won’t struggle in your absence. 

 

Finding a Professional Broker

The important thing is to locate a professional insurance broker since they will be able to help you with comparing different quotes and giving you the full deal on what the different quotes actually mean, what they cover, when they change, exactly how good each of them is in comparison to the others, and other little details. 

 

It’s important to go with a broker who specializes in life insurance in your area in order to make sure that you have a guide who fully understands the details about the insurance not just in the field of life insurance, but specifically in your area since laws can change based on the area, and because details can change based on the area as well.

 

Another important thing about getting a professional broker is that they will be able to give you advice based on your particular specific situation. It’s easy to underestimate the importance of the personal touch when it comes to life insurance agents.

 

Since you may not be personally knowledgeable in this field and because it can be difficult to get yourself to talk about specifically sometimes, it’s doubly important to have an agent who knows how to make you feel comfortable and talk to you personally as if you’re a real human being and not just a generic customer. 

 

The best brokers will be able to do this, both to help you feel comfortable, and also because they really need to do it this way in order to have any chance of understanding the particulars of your situation since this will obviously have an important effect on what type of life insurance you should get that would most benefit  your family. 

Why Remortgage?

Many people opt for remortgaging as a financial strategy to save money, maximize the value of their property, and to reduce various financial stress that are associated with borrowing.

However, not every borrower has the same reasons for choosing this strategy.
 
So Why Do People Remortgage?

Here are a few reasons you may opt for remortgaging:       

• To Borrow More:
  If your current lender is not ready to lend you extra money or if the terms and conditions that he or she is offering aren’t favorable, you may consider remortgaging in order to raise more money easily and at a lower rate. 
     
• If You Want To Overpay And Your Lender Is Not Ready:
  Perhaps you’ve had a salary increase or you’ve received some life insurance compensation. You are planning to pay extra but your current lender’s terms won’t allow you to do so or will only allow you make smaller over payments, remortgaging is encouraged. In such cases, remortgaging will allow you to reduce or cut the loan size which will in turn give you an opportunity to get cheaper rates.
  
• To save:
  If you began with a mortgage with higher interest rates, better remortgaging rates can assist you reduce your monthly expenses and can significantly free up extra cash for your savings.
   
• A Current Mortgage Deal Is About To End:
  Many good mortgages only last for a short period of time. When they end, a lender may put you on its bog SVR (standard variable rate). This is likely to be higher than your initial interest rate or some of the best buys in the market. In such cases, you may opt to re-mortgage to a cheaper rate.   

By and large, before you jump into any remortgaging deal, it is important seek proper mortgage advice in order to understand some of the benefits that you are likely to accrue when you finally close the deal.

The First Time Buyer's Mortgage Guide

It isn’t unusual for first time home buyers to make poor decision in regards to their mortgages. For those who have made up their minds to get a mortgage to finance their first home, it is very important to do adequate research to find out what is available and what you are eligible for.

There are many companies that offer mortgage advice but you should also look into the market yourself to see what is out there.

The first thing to take into account is how much deposit you have saved in relation to the cost of the house and whether mortgage companies will be willing to lend you money based on your savings. Basically, the bigger deposit the more mortgage companies will be willing to offer you a loan. Next, and many people are not aware of it, the better your credit score the easier it is it get a mortgage. There are free credit check websites that you can use to find out how credit-worthy you are.

Lenders, whether they are looking at new home buyers or a remortgage, will also look at how much you are earning every month in relation to what you are spending. This reassures them of your ability to meet your monthly payments. Keep in mind that this includes expenditures like life insurance and car insurance.

If you haven’t saved up the 25% that is required to get a mortgage, you can turn to the Help to Buy scheme that is intended to help first time buyers who have small deposits. With this scheme you can buy a house with a deposit as small a 5% of the total value of the property.

There are 100% mortgages but you should be very careful about these; if you borrow more than the house is worth you fall into negative r\equity right away.

Re-Mortgages Q&A

 Re-mortgaging is a big topic in the UK – people want to leverage existing mortgages to get a new mortgage. The problem, though, is that there isn’t enough information out there to help people make the right decisions.

Is it advisable to get mortgage advice from your lender? Probably not; they may have some vested interest and might tell you things that skew you in their favor. This short article explains some of the most commonly asked mortgage questions.

Can anyone re-mortgage?

Re-mortgaging is for people who already have an existing mortgage. That said, you must look at your financial circumstances very carefully before you make the leap. Although in many cases people who re-mortgage make money, there are instances when you can lose big.

Why should I remortgage?

The most common reason for remortgaging is to make money. Many homeowners take loans when they have almost paid off the existing one so that they can do repairs on their property. You can also remortgage to support other financial needs. The important thing is to make sure that you are able to make your loan payments every month.

Does my credit rating matter?

As a matter of fact is does. The government introduced stricter rules for mortgage lenders to avoid the problems that were experienced in the 2000’s that caused the housing bubble. You need to have a good credit score if you want to get a mortgage on an existing one.

Are there any fees associated with re-mortgaging?

There are some remortgages that are free and there are some that you have to pay for. If you go for the free kind you should be aware that you may incur costs in valuation and application fees. 

Do I need a solicitor?

Unless you are well versed with property law it is advisable to have a lawyer look over any documents before you sign them.