Purchasing property with a view to using it for holiday letting purposes may be lucrative and a good investment.

However, the question of the holiday let mortgage sometimes causes a little confusion. Let’s clear that up with some key facts.

When referring to a mortgage on a residential property, a high-ratio mortgage is one in which the borrower borrows more than 80 percent of the real estate security.  In the case of a self-employed borrower, generally those mortgages in which the amount loaned is more than 75 percent of the real estate security are considered to be high-ratio.  Put another way, if your down payment is less than 20 percent of the purchase price (or appraised valuation) of the property, you are considered to be seeking a high-ratio mortgage.

If you’re a first-time Canadian homebuyer, the process can be a bit overwhelming.  It’s not just the fact that your home is likely going to be the single largest purchase you will ever make that can be daunting, although that’s certainly part of it.  The right mortgage, however, can make the difference between making a good investment by buying a home and making a big financial mistake that will affect your finances well into the future.

Getting a foot onto the housing ladder can be a great feeling, but it might stretch your finances to the limit. The chances are, your biggest expense once you settle into your new property will be your mortgage, so it’s important that you find the best possible deal. This brief guide offers some useful suggestions to help you save money on your first home loan.

After the festive period it’s not surprising that many of us are finding ourselves a little short on cash. It’s the most expensive time of the year and every year we like to push the boat out a little only to find ourselves worrying about how to get through the coldest months. Especially now with the economic situation being the worst in recent memory people are wondering how to make what little they have last. So here’s our top tips on how to financially survive 2013:

In these uncertain economic times, your first instinct is probably to adopt a conservative attitude and cut down on your spending. But for those looking to purchase their first home, now may be the best time to buy. Home prices and mortgage rates have fallen nationwide, marking the beginning of a cooling period in the Canadian housing market.