Category: Blogs

When buying a property in England and Wales, one of the most important aspects to consider is the type of ownership you’ll be acquiring. Whether you’re purchasing a home or an investment property, understanding the differences between freehold, leasehold, and commonhold is essential. Each has its implications for ownership rights, maintenance responsibilities, and future costs. Let’s break down […]

At Impact Specialist Finance, we are committed to making the home buying and selling experience as seamless and efficient as possible. That’s why we are excited to support the Open Property Data Association’s (OPDA) latest initiative to transform this process through valuable consumer insights. The OPDA is conducting a survey to better understand the experiences and […]

When you’re in the market for a new home, the process can feel overwhelming, especially when it comes to securing a mortgage. One of the first steps in this journey is obtaining what’s known as an Agreement in Principle (AIP), also referred to as a Decision in Principle (DIP) or a Mortgage Promise from a […]

Debt consolidation is an appealing option for many people struggling with multiple debts, as it allows you to combine these debts into one manageable payment. One way to consolidate debt is by using your mortgage, essentially borrowing money against your property to pay off unsecured loans, credit cards, and store cards. While this approach can […]

When purchasing a property, a survey report is crucial for understanding the true condition of your prospective new home. Not only does it outline the necessary repairs and associated costs, but it can also provide grounds for negotiating a better price. Let’s dive into the different types of surveys available, what they include, and their […]

Considering overpaying on your mortgage can help reduce the interest you pay and bring you closer to being mortgage-free. However, before committing to this strategy, it’s essential to ensure it’s the best use of your funds and avoid any potential fees from exceeding your lender’s limits. Here are the key considerations and advantages of mortgage […]

As the end of your fixed rate mortgage term approaches, you might be wondering about your next steps. Transitioning from a fixed rate period can seem daunting, but it’s also an excellent opportunity to reassess your financial strategy and potentially save money. Here’s a guide to help you understand some of the options available. Switch/Revert […]

Applying for a mortgage can be a daunting and complex process. With so many steps and considerations, it’s easy to make mistakes that can delay or even derail your plans to buy a home. Understanding these common pitfalls can help you navigate the mortgage process more smoothly and increase your chances of securing the best […]

Embarking on the journey of purchasing a home is an exciting milestone. However, before you dive into the mortgage application process, it’s imperative to ensure your credit file is in top shape. Your credit file plays a pivotal role in determining your mortgage approval and the interest rates you’ll be offered. By being proactive, you […]