- The big bank break up and the 4th anniversary of the Northern Rock collapse.
- It's also the Trumpo Blogs 4th Birthday, no coincidence-born out of despair.
- Mon 12th Sep 2011
- Up to one in six European banks fail financial health check.
- It's a scary story, but what does it mean? surely not another run on a few banks?
- Tue 28th Jun 2011
- Welcome back moneybrain.com
- The trumpo team are pleased to welcome back an old friend.
- Mon 13th Jun 2011
First Time Buyer
- Trumpo mortgage advice is free and is provided by FSA regulated financial advisers
- Our trusted advisers will help you find the lowest mortgage rates
Buying your first home
When stepping onto the first rung of the property ladder most will have saved up a deposit. The bigger the deposit, the better the mortgage rate that can be obtained. It's crucial that you budget well and don't overstretch yourself, always try and leave some spare cash for maintenance and the odd night out.
Some first time buyers are very enough to have parents who will guarantee the mortgage. Due to the cost of houses today more and more lenders are accepting parental guarantees for first time buyers. Be absolutely aware however that the guarantee means that if you can't pay the mortgage then your parents or guarantor will be completely liable for that debt and the associated monthly payments.
Realistically you should be looking at borrowing no more than 4 x your salary. There are deals out their allowing you to borrow more, but we would say that these high multiple mortgages should only be taken out by professional people accountants, doctors and solicitors for example, who have structured and sizeable increases in salaries as their careers progress.
