Posts

A product transfer is switching deals with your current lender; a remortgage is replacing your mortgage (often with a new lender). Here’s the practical difference.

Rent arrears means rent is due but unpaid. For landlords, the key is budgeting a buffer for late/missed payments. Here’s a simple way to model it in your numbers.

When you sell a shared ownership home you don’t own 100% of, your landlord may get a nomination period to find a buyer. Here’s what that means and a simple timeline.

A leasehold sinking fund (reserve fund) is money collected via service charges for future major works. Here’s what it means and a tiny example of the yield impact.

UK landlords must arrange regular gas safety checks for gas appliances and flues. Here’s what the gas safety record is, how often checks are needed, and a tiny example.

For SDLT (England & NI), HMRC uses the “effective date”. It’s usually completion, but can be earlier if the contract is substantially performed. Quick example inside.

An early repayment charge (ERC) is a fee some mortgages charge if you repay early. Here’s what triggers it, a tiny example, and where to find it in your documents.

Shared ownership rent is usually reviewed annually. Here’s how rent review caps can work (lease-dependent) and a tiny example of the monthly impact.

An AIP/DIP is an early borrowing indication; a mortgage offer is the lender’s formal offer for a specific property after full checks. Here’s the practical difference.

Who pays for shared ownership repairs, what the lease controls, and how an “initial repair period” can work for some newer shared ownership homes.

A quick UK landlord explainer on common letting agent service levels and fee types, plus a tiny example showing how management fees reduce your net rental yield.

What a UK mortgage booking (reservation) fee is, when it’s charged, and when it might be refundable—plus a tiny example and what to check before applying.

Overpayments can reduce interest because interest is charged on the balance. This tiny example shows the immediate effect and why savings add up over time.

MEES rules mean many domestic rentals in England and Wales need EPC E or above (unless exempt). A plain-English overview with GOV.UK links.

When you staircase, the price of the extra shares is usually based on a current valuation. In most cases you pay for that valuation as part of the staircasing process.

In England and Northern Ireland, buying an additional home (including many buy-to-lets) can trigger higher SDLT rates. Here’s the simple rule of thumb and a tiny example.

Ground rent is a leasehold charge set out in the lease. Some lenders assess ground rent terms because they can affect risk and resale.

Repayment mortgages pay interest and capital each month. Interest-only mortgages pay interest only, so you still owe the balance at the end. Here’s the difference.

BTL affordability checks often focus on stressed interest payments, not full repayment. That’s why landlords hear about ICR: rent must cover a stressed interest cost.

Service charges pay for building costs. Ground rent is a separate leasehold charge. Here’s the quick difference with a tiny example.

SDLT is charged in bands (like income tax): you pay each rate only on the slice within that band. Here’s the three-step method and a tiny worked example.

In shared ownership, you buy a share of the home and pay rent on the remaining share you don’t own. Here’s what “rent on the unsold share” means, with a tiny example.

Net yield is your rental income after costs, expressed as a percentage of the property value. Here’s a quick checklist of common costs to include (with UK tax caveats).

APRC is a standardised percentage showing the overall cost of a mortgage over its full term. Useful for comparing deals, but based on assumptions.

LTV (loan-to-value) is the percentage of the property price/value you borrow. Here’s the formula, a mini example, and why it matters.

A void is an empty property with no rent. Arrears is a tenant falling behind. Here’s the difference and why it matters for cash flow.

Service charges pay for running and maintaining the building/estate. They can change year to year, so your monthly cost can change too.

A stress rate is a higher interest rate lenders may use to test affordability. Here’s what it means, why it exists, and a simple example.

BTL lenders may test rent against a stressed interest rate and ICR requirement, so the rent can cap borrowing. Here’s the idea with an example.

Fees and rates both matter. Over a 2‑year fix, a lower rate with a higher fee can cost more (or less) than a higher rate with no fee.

Gross yield is the headline rent vs price. Net yield accounts for running costs. Here’s the difference in one simple example.

After staircasing, rent is charged on a smaller unsold share, so it usually goes down. Here’s the idea, timing caveats, and an example.

A longer mortgage term usually lowers monthly payments but increases total interest. Here’s the practical trade-off with a small example.

Shared ownership rent reviews usually happen yearly and are set out in your lease. Here’s what can change, when, and a tiny example.

ICR (interest coverage ratio) is a rent-to-interest check used by many buy-to-let lenders. Here’s the definition, a tiny example, and links.

Do first-time buyers pay stamp duty? Sometimes. Many pay £0 if eligible for relief, but it depends on price and eligibility. Examples inside.

A quick buy-to-let explainer: lenders often stress-test at a higher rate and require rent to cover stressed interest by an ICR percentage.

A quick SDLT explainer for UK first-time buyers: when SDLT applies, how first-time buyer relief works, and how to estimate your bill.

Shared ownership rent is usually reviewed yearly and can increase. This post summarises GOV.UK’s rent review rules and simple budgeting steps.