Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Mortgage Glossary
- Mortgage Glossary Choices:
- 100% mortgage
- Arrears
- Buy to let
- County Court Judgements
- Defaults
- First time buyer
- Flexible mortgages
- Individual Voluntary Arrangements
- Keyworker mortgages
- Let to buy
- Non status
- No deposit mortgage
- No proof of income
- Self build
- Self certification
- Self employed mortgage
- Underpayment
Keyworker mortgages
Keyworkers are defined as qualifed teachers, nurses, whole time firefighters, serving police officers and qualified health visitors. Keyworker mortgages enables up to four incomes to be pooled in one mortgage application.
In areas of high housing costs, they are designed to allow low paid "key workers" get on the first rung of the housing ladder.
The first step is to decide between yourselves whether you are going to pay equal mortgage payments, or if not, what proportions you are each going to pay.
This set-up is a private matter between those taking out the mortgage. You don't need to disclose it on your mortgage application, but you must agree it in a trust deed.
Helping you with your keyworker mortgage
Harbour Mortgage Savings Centre have expertise in this area.