I Can Afford My Rent, So Why Can't I Get A Mortgage?

Ever wondered why you can’t afford a house, even though you pay plenty of rent? In this episode we speak to Ben Osgood, head of Beehive Money, all about why buying a first home is the biggest financial goal for millions of people, the common first time buyer mistakes Ben comes across, and how Beehive can help you to speed up your saving towards home ownership. You can find out more about Beehive Money at https://www.beehivemoney.co.uk/ or on social media @mybeehivemoney.Thank you to Ben & Beehive Money for sponsoring this episode!YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON  YOUR MORTGAGE There may be a fee for mortgage advice. The actual amount you pay will depend upon your  circumstances. The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.Lifetime ISA Open between 18 and 39 years old with £10 on the app. Maximum £1,000 bonus on maximum  £4,000 savings per tax year. your £4,000 Lifetime ISA allowance forms part of your overall  £20,000 annual ISA allowance. Any withdrawals within the first 12 months of your first payment into a Lifetime ISA will incur a  25% government charge, which would mean you would get back less than you paid in. After 12  months of making your first payment, you can withdraw money to buy your first home, but if you  withdraw for any other reason than that before you reach 60 years of age, the government  withdrawal charge will apply (unless you're diagnosed with a terminal illness). Transfers in only accepted into the Homebuyer LISA for balances of £10,000 or more. First-time  buyers only, no age limit.  Cashback Ts & Cs Cashback offer commences on 11 November 2021 and lasts until withdrawn by Beehive Money.  We won’t be able to notify you personally about the withdrawal, but you can always check our  website www.beehivemoney.co.uk/ or our app.  To qualify for the cashback offer,  o you need to have instructed Beehive Money to transfer in your cash or investment  Lifetime ISA (which cannot be another Beehive Money or Nottingham Building  Society Lifetime ISA) with a minimum balance of £10,000 to the Beehive  Homebuyer Lifetime ISA before the cashback offer is withdrawn  o You need to be named on the Beehive Money Homebuyer Lifetime ISA and the  account which you are transferring to us o You must also be named on the nominated bank account which you link to your  Beehive Money Homebuyer Lifetime ISA o You must continue to hold, and be named on, your Beehive Money Homebuyer  Lifetime ISA on the date we pay the cashback offer  - Your cashback will be paid to your nominated bank account only, no other payment  options are permitted.  - Within 90 days of your cash or investment Lifetime ISA being successfully transferred  into us, we will pay the cashback to your nominated bank account. - You will only be eligible for one cashback offer with Beehive Money - If our cashback offer is withdrawn before your transfer in is complete, you will remain  eligible subject to the above criteria. Don't forget to subscribe so you don't miss the latest episode!If you enjoy Money Unfiltered, please leave us a review & keep up to date on IG at @thisgirltalksmoney @victoria_nabarro