Buying a property can be difficult when your primary earnings are from the church or as a missionary. We spoke to Fiona Fraser, about how her family were able to buy a home with the help of a Kingdom Bank mortgage.
We spoke to Jonathan, one of the elders of Silver Street Community Church, about their Kingdom Bank mortgage which helped them to buy a new home for their minister.
We spoke with Kelvin Sampson, Architect and Co-Founder of Leap Architects, about how churches can be designing buildings that serve their communities well.
For personal mortgages our maximum mortgage is 4.5x your gross annual income subject to affordability. Buy-to-lets are assessed on the rent achieved from the property.
Loan-to-property-value
The ratio between the sum of money lent on a mortgage agreement and the value of the security property as confirmed by the Bank.
Loan-to-share-value
The ratio between the sum of money lent on a mortgage agreement and the value of the share of the security property owned by the customer, as confirmed by the Bank.
APRC
‘APRC’ stands for ‘Annual Percentage Rate of Charge’. Mortgage Lenders now have to include any mortgage related fees, redemption charges and valuation fees as part of the annual interest calculation when quoting an interest rate and this is referred to as the APRC.
Affordability
A comprehensive assessment of income and expenditure both currently and in the foreseeable future.
Loan-to-value
The ratio between the sum of money lent on a mortgage agreement and the value of the security property as confirmed by the Bank.