Don't be afraid of mortgages! An update on the mortgage market, first-time buyer tips & remortgaging in 2024

The ESPC Property Show

Welcome back to season 3 of the ESPC Property Show - a podcast for property enthusiasts and home hunters across Edinburgh, the Lothians, Fife and the Scottish Borders.
In this episode, hosts Paul and Megan are joined by two ESPC Mortgages colleagues Paul Demarco and David Lauder to discuss and debunk the mortgage market including how much cash first-time buyers need to buy, what properties are more difficult to mortgage, why overpaying your mortgage is a good idea and the best mortgage term to pick.
KEY TOPICS:
0:00-0:58 Introduction
0:58-1:35 Meet Paul & David
1:35-3:15 How is the 2024 mortgage market?
3:15-4:54 Bank of England rate predictions
5:54-6:19 How much deposit do first-time buyers need?
7:34-9:28 What properties are hard to get mortgages on?
9:28-10:55 Cladding and mortgages
10:55-13:28 Barriers to getting a mortgage
13:28-14:27 Getting a mortgage with a new job
14:27-15:14 Getting a mortgage with no credit score
15:14-15:32 Self-employed mortgages
15:32-16:06 Side hustles and mortgages
16:06-16:45 How to improve your credit score
16:45-18:11 What happens after an offer is accepted?
18:11-20:59 Why overpay on your mortgage?
20:59-21:46 Increased property value and loan to value
21:46-24:14 What mortgage term is best?
24:14-26:26 Advice for mortgage terms ending in next 6 months
26:26-28:39 Things you may not know about getting a mortgage
28:39-31:46 Other factors that make it hard to get a mortgage
31:46-33:25 Outro
The initial consultation with an ESPC Mortgages adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £395 (£345 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.

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ESPC (UK) Ltd is an Appointed Representative of Lyncombe Consultants Ltd which is authorised and regulated by the Financial Conduct Authority.

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