HOME – Free Bass Guitar Lessons #learn #bass, #free #bass #guitar #lessons, #learn #how #to


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FAT STRINGER LOW END LOVER!

Welcome to my Bass tutorial website. If you are new here, then please check out the ‘Lesson tree’. This is an order of practice, starting at beginners level, and slowly raising.

Also take time to check out all the other free Bass lessons and content that is on this site! – Kris

A TESTIMONIAL

I’ve sampled many online bass lessons over the past year or so. Paid a lot of money but didn’t learn much. But your lessons are a breath of fresh air. Most sites and teachers are dull, over complicated and in some cases-self-important. You have managed to simplify the jargon, to a point where literally anyone can understand and have fun when learning this instrument. But also, behind that laid back, almost jokey exterior is one hell of creative and innovative bass player. In a way it’s a shame that you don’t flaunt and show yourself off like many famous musicians, because if you did, you’d be one of the best. You’re an inspiration. Thankyou for everything, and god bless you – Tom, USA.

Welcome to Dmans’ Bass blog, and video log! Learning Bass guitar made fun, simple, and easy! Slapping, popping, tapping, beginners Bass songs, beginners riffs, Bass guitar tips, Bass chords, Bass finger picking, plus many other Bass lessons are covered on this site!

Hundreds of Thousands have learnt from me online, and many have gone onto becoming succesfull bass players in their bands, since I started doing these lessons in 2007. My online students often remark on how I keep things simple, and connect with them as people. That was always my main aim. To connect, which is what so many other online teachers fail to do. I hope you take something positive out of these lessons, and go onto to becoming a great Bass player!

The first port of call on your Bass journey should be the “Lesson tree”. There, you will find a list of lessons that start off easy, and slowly progress.

As hundreds will tell you: If you do those lessons one by one, you will be well on your to becoming a great Bass player, like many of them have done. Take it seriously, and go one by one!

QUICK LINKS

My Top ten Bass lines!

Who is this Kris Rodgers guy, anyway?

LATEST FUN STUFF!

REVIEWS

DR Neon Green strings review

PlanetWaves Micro Tuner

ZOOM B3 Effects

SpectorCore Piezo

Roland Cube 30 Amp

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Westfield Acoustic Bass

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This site is copyright of Kris Rodgers 2016


Spring Logging with Log4J #free, #spring, #tutorials, #beginners, #framework, #web #flow, #reference, #manual, #guide, #transaction,


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Spring – Logging with Log4J

This is a very easy-to-use Log4J functionality inside Spring applications. The following example will take you through simple steps to explain the simple integration between Log4J and Spring.

We assume you already have log4J installed on your machine. If you do not have it then you can download it from https://logging.apache.org/ and simply extract the zipped file in any folder. We will use only log4j-x.y.z.jar in our project.

Next, let us have a working Eclipse IDE in place and take the following steps to develop a Dynamic Form-based Web Application using Spring Web Framework

Create a project with a name SpringExample and create a package com.tutorialspoint under the src folder in the created project.

Add required Spring libraries using Add External JARs option as explained in the Spring Hello World Example chapter.

Add log4j library log4j-x.y.z.jar as well in your project using using Add External JARs .

Create Java classes HelloWorld and MainApp under the com.tutorialspoint package.

Create Beans configuration file Beans.xml under the src folder.

Create log4J configuration file log4j.properties under the src folder.

The final step is to create the content of all the Java files and Bean Configuration file and run the application as explained below.

Here is the content of HelloWorld.java file

Following is the content of the second file MainApp.java

You can generate debug and error message in a similar way as we have generated info messages. Now let us see the content of Beans.xml file

Following is the content of log4j.properties which defines the standard rules required for Log4J to produce log messages

Once you are done with creating source and bean configuration files, let us run the application. If everything is fine with your application, this will print the following message in Eclipse console

If you check your C:\\ drive, then you should find your log file log.out with various log messages, like something as follows

Jakarta Commons Logging (JCL) API

Alternatively you can use Jakarta Commons Logging (JCL) API to generate a log in your Spring application. JCL can be downloaded from the https://jakarta.apache.org/commons/logging/. The only file we technically need out of this package is the commons-logging-x.y.z.jar file, which needs to be placed in your classpath in a similar way as you had put log4j-x.y.z.jar in the above example.

To use the logging functionality you need a org.apache.commons.logging.Log object and then you can call one of the following methods as per your requirment

  • fatal(Object message)
  • error(Object message)
  • warn(Object message)
  • info(Object message)
  • debug(Object message)
  • trace(Object message)

Following is the replacement of MainApp.java, which makes use of JCL API

You have to make sure that you have included commons-logging-x.y.z.jar file in your project, before compiling and running the program.

Now keeping the rest of the configuration and content unchanged in the above example, if you compile and run your application, you will get a similar result as what you got using Log4J API.


Mortgages – a beginner’s guide – Money Advice Service #first #franklin #mortgage


#mortgages for dummies

#

Mortgages – a beginner’s guide

Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

What is a mortgage?

A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer.

The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

Working out what you can afford

Don’t stretch yourself if you think you’ll struggle to keep up repayments. Also, think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.

Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses.

Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.

To find out how much you could borrow use our Affordability calculator .

Where to get a mortgage

You can apply for a mortgage directly from a bank or building society, choosing from their product range.

You can also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market, as well as mortgages which are not offered directly to customers.

Some brokers look at mortgages from the ‘whole market’ while others look at products from a number of lenders. They’ll tell you all about this, and whether they have any charges, when you first contact them.

Taking advice will almost certainly be best unless you are very experienced in financial matters in general, and mortgages in particular.

It is sometimes possible to choose a mortgage without receiving advice – this is called an execution-only mortgage. These are offered under limited circumstances.

You’d be expected to know exactly what property you want to buy, how much you want to borrow and for how long, what type of mortgage you want and the type of interest and rate that you want to borrow at.

The lender will write to confirm that you haven’t received any advice, and that the mortgage hasn’t been assessed to see if it’s suitable for you.

In some cases you may need to confirm that you are aware of the consequences of taking out a mortgage without receiving advice, and that you are happy to go ahead.

If for some reason the mortgage turns out to be unsuitable for you later on, it will be very difficult for you to make a complaint.

If you go down the execution-only route, the lender will still carry out detailed affordability checks of your finances and assess your ability to continue to make repayments in certain circumstances.

Use our Mortgage payments calculator to work out the repayment and interest amount.

Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

We recommend the following websites for comparing mortgages:

  • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
  • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
  • Find out more in our guide to comparison sites .

Applying for a mortgage

Applying for a mortgage is often a two-stage process. The first stage usually involves a basic fact find to help you work out how much you can afford, and which type of mortgage(s) you may need. The second stage is where the mortgage lender will conduct a more detailed affordability check, and if they haven’t already requested it, evidence of income.

Generally, the lender or mortgage broker will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is generally used to provide an indication of how much a lender may be prepared to lend you.

They should also give you key information about the product, their service and any fees or charges if applicable.

This is usually where you begin your application. The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you will need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.

This could involve some detailed questioning of your finances and future plans that could impact your future income. Find out what evidence you need to provide in How to apply for a mortgage .

They’ll also assess the impact on your repayments should interest rates rise in the future.

This will come along with a ‘reflection period’ of at least 7 days, which willgive you the opportunity to make comparisons and assess the implications of accepting your lender’s offer. Some lenders may give you more than 7 days to do this.

You have the right to waive this reflection period to speed up your home purchase if you need to.

During this reflection period, the lender usually can’t change or withdraw their offer except in some limited circumstances. For example if the information you’ve provided was found to be false.

If you are unhappy about the advice you receive, you may be able to complain to the Financial Ombudsman Service .

Your deposit – size matters

When buying a property, you will need to pay a deposit. This is a chunk of money that goes towards the cost of the property you’re buying.

The more deposit you have, the lower your interest rate could be. When talking about mortgages, you might hear people mentioning “Loan to Value” or LTV. This may sound complicated, but it’s simply the amount of your home you own outright, compared to the amount that is secured against a mortgage.

For example, with a £20,000 deposit on a £200,000 property, the deposit is 10% of the price of the property, and the LTV is the remaining 90%. The mortgage is secured against this 90% portion.

The lower the LTV, the lower your interest rate is likely to be. This is because the lender takes less risk with a smaller loan. The cheapest rates are typically available for people with a 40% deposit.

How does a mortgage work?

The money you borrow is called the capital and the lender then charges you interest on it till it is repaid. The type of mortgage you are able to apply for will depend on whether you want to repay interest only or interest and capital.

Repayment mortgage

With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.

Interest-only mortgage

With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).

These mortgages are becoming much harder to come by as lenders and regulators are worried about homeowners being left with a huge debt and no way of repaying it.

You will have to have a separate plan for how you will repay the original loan at the end of the mortgage term.

Combination of repayment and interest-only mortgages

You can ask your lender if you can combine both options, splitting your mortgage loan between a repayment and interest-only mortgage.

Different types of mortgage

Once you’ve decided how to pay back the capital and interest, you need to think about the mortgage type. Mortgages come with fixed or variable interest rates.

With a fixed-rate mortgage your repayments will be the same for a certain period of time – typically two to five years – regardless of what interest rates are doing in the wider market.

If you have a variable rate mortgage, the rate you pay could move up or down, in line with the Bank of England base rate. There are various types of variable rate mortgages.

For more information read our guides:

Your next step

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  • Share this article on Facebook

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  • Share this article on Twitter
    Share this article on Twitter
  • Share this article by Email

    Share this article by Email


  • Mortgages – a beginner’s guide – Money Advice Service #mortgage #refinance #rates #today


    #mortgages for dummies

    #

    Mortgages – a beginner’s guide

    Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

    What is a mortgage?

    A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer.

    The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

    Working out what you can afford

    Don’t stretch yourself if you think you’ll struggle to keep up repayments. Also, think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.

    Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses.

    Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.

    To find out how much you could borrow use our Affordability calculator .

    Where to get a mortgage

    You can apply for a mortgage directly from a bank or building society, choosing from their product range.

    You can also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market, as well as mortgages which are not offered directly to customers.

    Some brokers look at mortgages from the ‘whole market’ while others look at products from a number of lenders. They’ll tell you all about this, and whether they have any charges, when you first contact them.

    Taking advice will almost certainly be best unless you are very experienced in financial matters in general, and mortgages in particular.

    It is sometimes possible to choose a mortgage without receiving advice – this is called an execution-only mortgage. These are offered under limited circumstances.

    You’d be expected to know exactly what property you want to buy, how much you want to borrow and for how long, what type of mortgage you want and the type of interest and rate that you want to borrow at.

    The lender will write to confirm that you haven’t received any advice, and that the mortgage hasn’t been assessed to see if it’s suitable for you.

    In some cases you may need to confirm that you are aware of the consequences of taking out a mortgage without receiving advice, and that you are happy to go ahead.

    If for some reason the mortgage turns out to be unsuitable for you later on, it will be very difficult for you to make a complaint.

    If you go down the execution-only route, the lender will still carry out detailed affordability checks of your finances and assess your ability to continue to make repayments in certain circumstances.

    Use our Mortgage payments calculator to work out the repayment and interest amount.

    Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

    We recommend the following websites for comparing mortgages:

    • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
    • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
    • Find out more in our guide to comparison sites .

    Applying for a mortgage

    Applying for a mortgage is often a two-stage process. The first stage usually involves a basic fact find to help you work out how much you can afford, and which type of mortgage(s) you may need. The second stage is where the mortgage lender will conduct a more detailed affordability check, and if they haven’t already requested it, evidence of income.

    Generally, the lender or mortgage broker will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is generally used to provide an indication of how much a lender may be prepared to lend you.

    They should also give you key information about the product, their service and any fees or charges if applicable.

    This is usually where you begin your application. The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you will need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.

    This could involve some detailed questioning of your finances and future plans that could impact your future income. Find out what evidence you need to provide in How to apply for a mortgage .

    They’ll also assess the impact on your repayments should interest rates rise in the future.

    This will come along with a ‘reflection period’ of at least 7 days, which willgive you the opportunity to make comparisons and assess the implications of accepting your lender’s offer. Some lenders may give you more than 7 days to do this.

    You have the right to waive this reflection period to speed up your home purchase if you need to.

    During this reflection period, the lender usually can’t change or withdraw their offer except in some limited circumstances. For example if the information you’ve provided was found to be false.

    If you are unhappy about the advice you receive, you may be able to complain to the Financial Ombudsman Service .

    Your deposit – size matters

    When buying a property, you will need to pay a deposit. This is a chunk of money that goes towards the cost of the property you’re buying.

    The more deposit you have, the lower your interest rate could be. When talking about mortgages, you might hear people mentioning “Loan to Value” or LTV. This may sound complicated, but it’s simply the amount of your home you own outright, compared to the amount that is secured against a mortgage.

    For example, with a £20,000 deposit on a £200,000 property, the deposit is 10% of the price of the property, and the LTV is the remaining 90%. The mortgage is secured against this 90% portion.

    The lower the LTV, the lower your interest rate is likely to be. This is because the lender takes less risk with a smaller loan. The cheapest rates are typically available for people with a 40% deposit.

    How does a mortgage work?

    The money you borrow is called the capital and the lender then charges you interest on it till it is repaid. The type of mortgage you are able to apply for will depend on whether you want to repay interest only or interest and capital.

    Repayment mortgage

    With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.

    Interest-only mortgage

    With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).

    These mortgages are becoming much harder to come by as lenders and regulators are worried about homeowners being left with a huge debt and no way of repaying it.

    You will have to have a separate plan for how you will repay the original loan at the end of the mortgage term.

    Combination of repayment and interest-only mortgages

    You can ask your lender if you can combine both options, splitting your mortgage loan between a repayment and interest-only mortgage.

    Different types of mortgage

    Once you’ve decided how to pay back the capital and interest, you need to think about the mortgage type. Mortgages come with fixed or variable interest rates.

    With a fixed-rate mortgage your repayments will be the same for a certain period of time – typically two to five years – regardless of what interest rates are doing in the wider market.

    If you have a variable rate mortgage, the rate you pay could move up or down, in line with the Bank of England base rate. There are various types of variable rate mortgages.

    For more information read our guides:

    Your next step

    Share this article

    • Share this article on Facebook

    Share this article on Facebook

  • Share this article on Twitter
    Share this article on Twitter
  • Share this article by Email

    Share this article by Email


  • Mortgages – a beginner’s guide – Money Advice Service #mortgage #calculator #with #amortization #table


    #mortgages for dummies

    #

    Mortgages – a beginner’s guide

    Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

    What is a mortgage?

    A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer.

    The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

    Working out what you can afford

    Don’t stretch yourself if you think you’ll struggle to keep up repayments. Also, think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.

    Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses.

    Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.

    To find out how much you could borrow use our Affordability calculator .

    Where to get a mortgage

    You can apply for a mortgage directly from a bank or building society, choosing from their product range.

    You can also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market, as well as mortgages which are not offered directly to customers.

    Some brokers look at mortgages from the ‘whole market’ while others look at products from a number of lenders. They’ll tell you all about this, and whether they have any charges, when you first contact them.

    Taking advice will almost certainly be best unless you are very experienced in financial matters in general, and mortgages in particular.

    It is sometimes possible to choose a mortgage without receiving advice – this is called an execution-only mortgage. These are offered under limited circumstances.

    You’d be expected to know exactly what property you want to buy, how much you want to borrow and for how long, what type of mortgage you want and the type of interest and rate that you want to borrow at.

    The lender will write to confirm that you haven’t received any advice, and that the mortgage hasn’t been assessed to see if it’s suitable for you.

    In some cases you may need to confirm that you are aware of the consequences of taking out a mortgage without receiving advice, and that you are happy to go ahead.

    If for some reason the mortgage turns out to be unsuitable for you later on, it will be very difficult for you to make a complaint.

    If you go down the execution-only route, the lender will still carry out detailed affordability checks of your finances and assess your ability to continue to make repayments in certain circumstances.

    Use our Mortgage payments calculator to work out the repayment and interest amount.

    Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

    We recommend the following websites for comparing mortgages:

    • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
    • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
    • Find out more in our guide to comparison sites .

    Applying for a mortgage

    Applying for a mortgage is often a two-stage process. The first stage usually involves a basic fact find to help you work out how much you can afford, and which type of mortgage(s) you may need. The second stage is where the mortgage lender will conduct a more detailed affordability check, and if they haven’t already requested it, evidence of income.

    Generally, the lender or mortgage broker will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is generally used to provide an indication of how much a lender may be prepared to lend you.

    They should also give you key information about the product, their service and any fees or charges if applicable.

    This is usually where you begin your application. The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you will need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.

    This could involve some detailed questioning of your finances and future plans that could impact your future income. Find out what evidence you need to provide in How to apply for a mortgage .

    They’ll also assess the impact on your repayments should interest rates rise in the future.

    This will come along with a ‘reflection period’ of at least 7 days, which willgive you the opportunity to make comparisons and assess the implications of accepting your lender’s offer. Some lenders may give you more than 7 days to do this.

    You have the right to waive this reflection period to speed up your home purchase if you need to.

    During this reflection period, the lender usually can’t change or withdraw their offer except in some limited circumstances. For example if the information you’ve provided was found to be false.

    If you are unhappy about the advice you receive, you may be able to complain to the Financial Ombudsman Service .

    Your deposit – size matters

    When buying a property, you will need to pay a deposit. This is a chunk of money that goes towards the cost of the property you’re buying.

    The more deposit you have, the lower your interest rate could be. When talking about mortgages, you might hear people mentioning “Loan to Value” or LTV. This may sound complicated, but it’s simply the amount of your home you own outright, compared to the amount that is secured against a mortgage.

    For example, with a £20,000 deposit on a £200,000 property, the deposit is 10% of the price of the property, and the LTV is the remaining 90%. The mortgage is secured against this 90% portion.

    The lower the LTV, the lower your interest rate is likely to be. This is because the lender takes less risk with a smaller loan. The cheapest rates are typically available for people with a 40% deposit.

    How does a mortgage work?

    The money you borrow is called the capital and the lender then charges you interest on it till it is repaid. The type of mortgage you are able to apply for will depend on whether you want to repay interest only or interest and capital.

    Repayment mortgage

    With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.

    Interest-only mortgage

    With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).

    These mortgages are becoming much harder to come by as lenders and regulators are worried about homeowners being left with a huge debt and no way of repaying it.

    You will have to have a separate plan for how you will repay the original loan at the end of the mortgage term.

    Combination of repayment and interest-only mortgages

    You can ask your lender if you can combine both options, splitting your mortgage loan between a repayment and interest-only mortgage.

    Different types of mortgage

    Once you’ve decided how to pay back the capital and interest, you need to think about the mortgage type. Mortgages come with fixed or variable interest rates.

    With a fixed-rate mortgage your repayments will be the same for a certain period of time – typically two to five years – regardless of what interest rates are doing in the wider market.

    If you have a variable rate mortgage, the rate you pay could move up or down, in line with the Bank of England base rate. There are various types of variable rate mortgages.

    For more information read our guides:

    Your next step

    Share this article

    • Share this article on Facebook

    Share this article on Facebook

  • Share this article on Twitter
    Share this article on Twitter
  • Share this article by Email

    Share this article by Email


  • Mortgages – a beginner’s guide – Money Advice Service #mortgage #information


    #mortgages for dummies

    #

    Mortgages – a beginner’s guide

    Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

    What is a mortgage?

    A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer.

    The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

    Working out what you can afford

    Don’t stretch yourself if you think you’ll struggle to keep up repayments. Also, think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.

    Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses.

    Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.

    To find out how much you could borrow use our Affordability calculator .

    Where to get a mortgage

    You can apply for a mortgage directly from a bank or building society, choosing from their product range.

    You can also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market, as well as mortgages which are not offered directly to customers.

    Some brokers look at mortgages from the ‘whole market’ while others look at products from a number of lenders. They’ll tell you all about this, and whether they have any charges, when you first contact them.

    Taking advice will almost certainly be best unless you are very experienced in financial matters in general, and mortgages in particular.

    It is sometimes possible to choose a mortgage without receiving advice – this is called an execution-only mortgage. These are offered under limited circumstances.

    You’d be expected to know exactly what property you want to buy, how much you want to borrow and for how long, what type of mortgage you want and the type of interest and rate that you want to borrow at.

    The lender will write to confirm that you haven’t received any advice, and that the mortgage hasn’t been assessed to see if it’s suitable for you.

    In some cases you may need to confirm that you are aware of the consequences of taking out a mortgage without receiving advice, and that you are happy to go ahead.

    If for some reason the mortgage turns out to be unsuitable for you later on, it will be very difficult for you to make a complaint.

    If you go down the execution-only route, the lender will still carry out detailed affordability checks of your finances and assess your ability to continue to make repayments in certain circumstances.

    Use our Mortgage payments calculator to work out the repayment and interest amount.

    Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

    We recommend the following websites for comparing mortgages:

    • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
    • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
    • Find out more in our guide to comparison sites .

    Applying for a mortgage

    Applying for a mortgage is often a two-stage process. The first stage usually involves a basic fact find to help you work out how much you can afford, and which type of mortgage(s) you may need. The second stage is where the mortgage lender will conduct a more detailed affordability check, and if they haven’t already requested it, evidence of income.

    Generally, the lender or mortgage broker will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is generally used to provide an indication of how much a lender may be prepared to lend you.

    They should also give you key information about the product, their service and any fees or charges if applicable.

    This is usually where you begin your application. The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you will need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.

    This could involve some detailed questioning of your finances and future plans that could impact your future income. Find out what evidence you need to provide in How to apply for a mortgage .

    They’ll also assess the impact on your repayments should interest rates rise in the future.

    This will come along with a ‘reflection period’ of at least 7 days, which willgive you the opportunity to make comparisons and assess the implications of accepting your lender’s offer. Some lenders may give you more than 7 days to do this.

    You have the right to waive this reflection period to speed up your home purchase if you need to.

    During this reflection period, the lender usually can’t change or withdraw their offer except in some limited circumstances. For example if the information you’ve provided was found to be false.

    If you are unhappy about the advice you receive, you may be able to complain to the Financial Ombudsman Service .

    Your deposit – size matters

    When buying a property, you will need to pay a deposit. This is a chunk of money that goes towards the cost of the property you’re buying.

    The more deposit you have, the lower your interest rate could be. When talking about mortgages, you might hear people mentioning “Loan to Value” or LTV. This may sound complicated, but it’s simply the amount of your home you own outright, compared to the amount that is secured against a mortgage.

    For example, with a £20,000 deposit on a £200,000 property, the deposit is 10% of the price of the property, and the LTV is the remaining 90%. The mortgage is secured against this 90% portion.

    The lower the LTV, the lower your interest rate is likely to be. This is because the lender takes less risk with a smaller loan. The cheapest rates are typically available for people with a 40% deposit.

    How does a mortgage work?

    The money you borrow is called the capital and the lender then charges you interest on it till it is repaid. The type of mortgage you are able to apply for will depend on whether you want to repay interest only or interest and capital.

    Repayment mortgage

    With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.

    Interest-only mortgage

    With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).

    These mortgages are becoming much harder to come by as lenders and regulators are worried about homeowners being left with a huge debt and no way of repaying it.

    You will have to have a separate plan for how you will repay the original loan at the end of the mortgage term.

    Combination of repayment and interest-only mortgages

    You can ask your lender if you can combine both options, splitting your mortgage loan between a repayment and interest-only mortgage.

    Different types of mortgage

    Once you’ve decided how to pay back the capital and interest, you need to think about the mortgage type. Mortgages come with fixed or variable interest rates.

    With a fixed-rate mortgage your repayments will be the same for a certain period of time – typically two to five years – regardless of what interest rates are doing in the wider market.

    If you have a variable rate mortgage, the rate you pay could move up or down, in line with the Bank of England base rate. There are various types of variable rate mortgages.

    For more information read our guides:

    Your next step

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  • Mortgages – a beginner’s guide – Money Advice Service #bank #rate #mortgage


    #mortgages for dummies

    #

    Mortgages – a beginner’s guide

    Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage, make sure you know what you can afford to borrow. Find out where to get a mortgage, the different types and how the process works.

    What is a mortgage?

    A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer.

    The loan is ‘secured’ against the value of your home until it’s paid off. If you can’t keep up your repayments the lender can repossess (take back) your home and sell it so they get their money back.

    Working out what you can afford

    Don’t stretch yourself if you think you’ll struggle to keep up repayments. Also, think about the running costs of owning a home such as household bills, council tax, insurance and maintenance.

    Lenders will want to see proof of your income and certain expenditure, and if you have any debts. They may ask for information about household bills, child maintenance and personal expenses.

    Lenders want proof that you will be able to keep up repayments if interest rates rise. They may refuse to offer you a mortgage if they don’t think you’ll be able to afford it.

    To find out how much you could borrow use our Affordability calculator .

    Where to get a mortgage

    You can apply for a mortgage directly from a bank or building society, choosing from their product range.

    You can also use a mortgage broker or independent financial adviser (IFA) who can compare different mortgages on the market, as well as mortgages which are not offered directly to customers.

    Some brokers look at mortgages from the ‘whole market’ while others look at products from a number of lenders. They’ll tell you all about this, and whether they have any charges, when you first contact them.

    Taking advice will almost certainly be best unless you are very experienced in financial matters in general, and mortgages in particular.

    It is sometimes possible to choose a mortgage without receiving advice – this is called an execution-only mortgage. These are offered under limited circumstances.

    You’d be expected to know exactly what property you want to buy, how much you want to borrow and for how long, what type of mortgage you want and the type of interest and rate that you want to borrow at.

    The lender will write to confirm that you haven’t received any advice, and that the mortgage hasn’t been assessed to see if it’s suitable for you.

    In some cases you may need to confirm that you are aware of the consequences of taking out a mortgage without receiving advice, and that you are happy to go ahead.

    If for some reason the mortgage turns out to be unsuitable for you later on, it will be very difficult for you to make a complaint.

    If you go down the execution-only route, the lender will still carry out detailed affordability checks of your finances and assess your ability to continue to make repayments in certain circumstances.

    Use our Mortgage payments calculator to work out the repayment and interest amount.

    Comparison websites are a good starting point for anyone trying to find a mortgage tailored to their needs.

    We recommend the following websites for comparing mortgages:

    • Comparison websites won’t all give you the same results, so make sure you use more than one site before making a decision.
    • It is also important to do some research into the type of product and features you need before making a purchase or changing supplier.
    • Find out more in our guide to comparison sites .

    Applying for a mortgage

    Applying for a mortgage is often a two-stage process. The first stage usually involves a basic fact find to help you work out how much you can afford, and which type of mortgage(s) you may need. The second stage is where the mortgage lender will conduct a more detailed affordability check, and if they haven’t already requested it, evidence of income.

    Generally, the lender or mortgage broker will ask you a series of questions to work out what kind of mortgage you want, and how long you want it for. They’ll also try to work out, without going into too much detail, your financial situation. This is generally used to provide an indication of how much a lender may be prepared to lend you.

    They should also give you key information about the product, their service and any fees or charges if applicable.

    This is usually where you begin your application. The lender or mortgage broker will begin a full ‘fact find’ and a detailed affordability assessment, for which you will need to provide evidence of your income and specific expenditure, and ‘stress tests’ of your finances.

    This could involve some detailed questioning of your finances and future plans that could impact your future income. Find out what evidence you need to provide in How to apply for a mortgage .

    They’ll also assess the impact on your repayments should interest rates rise in the future.

    This will come along with a ‘reflection period’ of at least 7 days, which willgive you the opportunity to make comparisons and assess the implications of accepting your lender’s offer. Some lenders may give you more than 7 days to do this.

    You have the right to waive this reflection period to speed up your home purchase if you need to.

    During this reflection period, the lender usually can’t change or withdraw their offer except in some limited circumstances. For example if the information you’ve provided was found to be false.

    If you are unhappy about the advice you receive, you may be able to complain to the Financial Ombudsman Service .

    Your deposit – size matters

    When buying a property, you will need to pay a deposit. This is a chunk of money that goes towards the cost of the property you’re buying.

    The more deposit you have, the lower your interest rate could be. When talking about mortgages, you might hear people mentioning “Loan to Value” or LTV. This may sound complicated, but it’s simply the amount of your home you own outright, compared to the amount that is secured against a mortgage.

    For example, with a £20,000 deposit on a £200,000 property, the deposit is 10% of the price of the property, and the LTV is the remaining 90%. The mortgage is secured against this 90% portion.

    The lower the LTV, the lower your interest rate is likely to be. This is because the lender takes less risk with a smaller loan. The cheapest rates are typically available for people with a 40% deposit.

    How does a mortgage work?

    The money you borrow is called the capital and the lender then charges you interest on it till it is repaid. The type of mortgage you are able to apply for will depend on whether you want to repay interest only or interest and capital.

    Repayment mortgage

    With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.

    Interest-only mortgage

    With interest-only mortgages, you pay only the interest on the loan and nothing off the capital (the amount you borrowed).

    These mortgages are becoming much harder to come by as lenders and regulators are worried about homeowners being left with a huge debt and no way of repaying it.

    You will have to have a separate plan for how you will repay the original loan at the end of the mortgage term.

    Combination of repayment and interest-only mortgages

    You can ask your lender if you can combine both options, splitting your mortgage loan between a repayment and interest-only mortgage.

    Different types of mortgage

    Once you’ve decided how to pay back the capital and interest, you need to think about the mortgage type. Mortgages come with fixed or variable interest rates.

    With a fixed-rate mortgage your repayments will be the same for a certain period of time – typically two to five years – regardless of what interest rates are doing in the wider market.

    If you have a variable rate mortgage, the rate you pay could move up or down, in line with the Bank of England base rate. There are various types of variable rate mortgages.

    For more information read our guides:

    Your next step

    Share this article

    • Share this article on Facebook

    Share this article on Facebook

  • Share this article on Twitter
    Share this article on Twitter
  • Share this article by Email

    Share this article by Email