MHP Mortgage Loans - Matthew Stack

  What Happens to Property when One Partner Dies? ✅If death comes out of the blue, and there is no will in place, here are some facts around how home ownership works.   ✅There are 2 types of joint ownership.  These are  tenants in common  and  joint tenants .   1. Tenants in common ✅A will usually determines where you partners share goes. 2. Joint tenants - the most common ✅You and your partner own equal shares. ✅If your partner dies, their share is bequeathed to your sole ownership. ✅You can now have a solicitor to revert the property title into your name only. Who pays the mortgage if my partner dies? ✅You inherit the property  and the mortgage. ✅Sometimes people who inherit a property with a mortgage need to sell the property to pay out the mortgage.  This may happen if the lender wants to assess your ability to make the repayments on your own.  You simply may not have the serviceability to make the repayments as a sole inco...

Home loans on casual employment ✅It is quite normal to be casually employed in the retail, teaching, nursing, or hospitality sector. Many lenders view casual employment as higher risk, and some avoid lending to this group altogether. ✅ Fortunately there are lenders who will consider a home loan for the casual worker. There are a few considerations to assess this properly. Let's take a look ✅ Full time casual: must be employed 6 months to qualify with some lenders. ✅ Part time casual: irregular hours are assessed on a case-by-case basis. How will the banks assess me? ✅Your income is more vulnerable without holidays & sick days. ✅ Your irregular pay checks will be scrutinised. ✅ When the economy or certain industry's go through tough times, some banks pull back from lending to casuals on the basis they might be the first to get fired. Casual teacher All your payslips are from the department of education (1 employer), but you may be sent to many different schools. Some ...