I was discussing Mortgage Protection with two clients recently – such things as Life
and Critical illness cover – when one said to me; ‘So if I don’t make a claim by the time the policy ends, it will all have been just a waste of money?’
A history of adverse credit, whether severe or simply the odd missed payment, can have a major impact on a mortgage
application with high street/mainstream lenders.
During a recent meeting with potential new Lifetime Mortgage clients, they said
something which made me think. They said: “We were always told you should pay off your mortgage before you retire.
I have spoken to a lot of people over the years who have put off even thinking of buying a property, or moving home, because they don’t have a standard Permanent Employed Contract.
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It’s natural that as we get older things become increasingly complex and challenging. Unfortunately, it has always
been that way. As new generations come along, the familiar lies in the past.
As with most things in life, it helps to be prepared. Buying a property, whether you already own a house or this is your
first purchase, is no different. Therefore, here are my thoughts on what you should
be doing from the moment you decide you’d like to buy a new home.