Mortgage or Marriage – Which is more important?

OVER THE YEARS, both the average cost of a wedding and the average deposit required to buy a property have increased. As a result, this has forced some younger couples in the UK to decide which is more important to them — the dream wedding or the dream home?

IS REALITY TV NOW REFLECTING ACTUAL REALITY?

The Netflix reality show Marriage or Mortgage reveals a lot about the emotional aspects of home buying, as couples decide whether to spend their savings on a wedding or a home. In the popular show each episode focuses on one couple that are shown properties to fit their budgets while a wedding planner takes them on a tour of venues, trying on wedding dresses and tasting food for hypothetical receptions. Low interest rates, stagnant wages and high rents have made saving hard work for many, and some younger people are now finding that they cannot afford to get married and jump on the property ladder at the same time. The average wedding in the UK in 2021 and 2022 will cost a little over £20,000[1] and that only includes the costs of the day itself and not the cost of the honeymoon or other associated events like a bridal shower.

COST-CONSCIOUS ATTITUDE

Since the average price of a property in England is £256,000[2], a 10% deposit (which is typically the minimum you would need to save) would be £25,600, but first-time buyer deposits are often much higher. Plus, there are various other costs involved, including mortgage arrangement fees and survey fees. Even if you approach both with a cost-conscious attitude, it would be difficult to save for a deposit and get married at a combined cost of less than £50,000.

IMPORTANT LIFE GOAL

For couples who each earn around the average UK salary, saving that amount could take between 10 to 20 years. So, many people in their 20s and 30s are forced to choose whether to postpone the big day or wait until afterwards to save for a home. Recent research [3] highlighted that 12% of UK respondents believe that taking out a mortgage was more important than getting married. And, while 76% of people think that buying a home is an important life goal, slightly fewer (64%) think that getting married is an important life goal.

MEANINGFUL RITE OF PASSAGE

Although no one can predict how the housing market will go in the future, the difference between spending on a wedding and spending on a home is tangible. In one case you get a beautiful day and a meaningful rite of passage, but in the other you get real property you can live in for years. A home of your own is also an investment that can pay off down the road and one that should see its value grow. Saving towards a common goal or goals, creating a monthly budget, making joint decisions and dreaming about the future are critical building blocks for a lifetime of partnership. These skills will serve you well in almost any scenario, whether staged for TV or happily ever after.

If you would like to talk through how to get on to the housing ladder, then book a no obligation chat – we don’t charge a broker fee.

Source data:
[1] https://www.compareweddinginsurance.org.uk/blog/average-cost-uk-wedding.php
[2] https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/july2021
[3] https://www.whatmortgage.co.uk/news/whybrits-are-prioritising-a-mortgage-over-marriage/

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At Yes Mortgage Services, we offer a comprehensive range of products from across the market.

Irrespective of whether you are looking to buy a new home, re-mortgage an existing property, or looking to protect your family from the unpredictability that life throws at it or protect your income if you are unable to work due to accident or ill health.

Yes Mortgage Services are committed to offering you the highest possible standards of service. We can undertake the whole process from answering the initial questions through to handling multiple product applications. Ensuring that everyone gets treated with the same urgency and maintaining your best interests are our main goals irrespective of the value of the mortgage.

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspect of our dealings with you.

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Buying your first home can feel a little daunting and maybe even a bit scary at times. ⁣
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But we're here to guide you every step of the way so you can feel comfortable and confident throughout the entire process 🙌⁣
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Our free expert advice covers everything from saving for your deposit, getting your credit score healthy and your finances ready, right through to choosing the right building surveys and solicitors.⁣
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We'll cut through the jargon, talk through all of your questions (there's no such thing as a silly question in our minds), and guide you through finding the most suitable mortgage for your circumstances 🏡⁣
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The best bit is we don't charge a broker fee! - send us a message or give us a call on 0800 612 5596.⁣
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Buying your first home can feel a little daunting and maybe even a bit scary at times. ⁣

But we`re here to guide you every step of the way so you can feel comfortable and confident throughout the entire process 🙌⁣

Our free expert advice covers everything from saving for your deposit, getting your credit score healthy and your finances ready, right through to choosing the right building surveys and solicitors.⁣

We`ll cut through the jargon, talk through all of your questions (there`s no such thing as a silly question in our minds), and guide you through finding the most suitable mortgage for your circumstances 🏡⁣

The best bit is we don`t charge a broker fee! - send us a message or give us a call on 0800 612 5596.⁣

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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

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Our amazing team of experts are always on hand to find the right mortgage solution for you and to answer any questions you might have. Send us a message, or call us on 0800 612 5596.⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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Our amazing team of experts are always on hand to find the right mortgage solution for you and to answer any questions you might have. Send us a message, or call us on 0800 612 5596.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

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#mortgageadvisor #nobrokerfee #dorset #mortgagesmadesimple #dorsetbusiness #ukpropertymarket
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But when it comes to refinancing or purchasing your new investment property, the process of getting a mortgage can feel challenging.⁣
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Not anymore!⁣
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Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They'll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣
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Visit our website to learn more (🔗 in bio)⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert⁣
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#limitedcompanybuytolet #ukpropertyinvestors #ukpropertyinvestor #landlordsuk #landlordsecrets #investmentproperty #ukpropertyinvesting

More and more investors are buying properties within a Limited Company to keep things tax efficient. ⁣

But when it comes to refinancing or purchasing your new investment property, the process of getting a mortgage can feel challenging.⁣

Not anymore!⁣

Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣

Visit our website to learn more (🔗 in bio)⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert⁣

...⁣

#limitedcompanybuytolet #ukpropertyinvestors #ukpropertyinvestor #landlordsuk #landlordsecrets #investmentproperty #ukpropertyinvesting
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We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣
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That's why we don't charge a broker fee 🤩⁣
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We'll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you're remortgaging, moving home, or making any subsequent property purchase, we've got you covered.⁣
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Visit our website (🔗 in bio) to learn more.⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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...⁣
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#mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser

We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣

That`s why we don`t charge a broker fee 🤩⁣

We`ll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you`re remortgaging, moving home, or making any subsequent property purchase, we`ve got you covered.⁣

Visit our website (🔗 in bio) to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgagetips #mortgageexpert #devonproperty #bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #ringwood #hampshireuk #mortgageadviser
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And the best bit? We don't charge a broker fee 🤩⁣
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If you'd like to chat with one of our advisors about self-employed mortgages give us a call on 0800 612 5596 or send us a DM⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage.  Yes Mortgage Services Limited do not charge a broker fee.⁣
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...⁣
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#selfemployedmortgage #selfemployedmortgages #selfemployed #dorsetbusiness #bournemouthbusiness

Being self-employed has its perks, but when it comes to getting a mortgage, things can get a little tricky. But you don`t have to navigate this process alone.⁣

We have access to a wide range of lenders and a deep understanding of what each one looks for when it comes to self-employed mortgages. Meaning we can find the most appropriate lender for your circumstances and needs!⁣

And the best bit? We don`t charge a broker fee 🤩⁣

If you`d like to chat with one of our advisors about self-employed mortgages give us a call on 0800 612 5596 or send us a DM⁣
...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#selfemployedmortgage #selfemployedmortgages #selfemployed #dorsetbusiness #bournemouthbusiness
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A JSPB mortgage enables you to accept the financial support of your family while retaining a sense of independence through sole ownership of your property.⁣
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If you'd like to chat with one of our advisors about Joint Borrower Sole Proprietor Mortgages or buying your first home, give us a call on 0800 612 5596 or send us a DM⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
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#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips #JSPBmortgage

A JSPB mortgage enables you to accept the financial support of your family while retaining a sense of independence through sole ownership of your property.⁣

If you`d like to chat with one of our advisors about Joint Borrower Sole Proprietor Mortgages or buying your first home, give us a call on 0800 612 5596 or send us a DM⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips #JSPBmortgage
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Life throws curveballs, don't let a leaky roof be one! Building insurance provides peace of mind knowing your home's structure is covered. Talk to Kelly, our insurance advisor, to find the right coverage for your mortgage.⁣
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Get in touch on 0800 612 5596 or tap the link in our bio.⁣
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#buildingsinsurance #protectyourhome #dorsetlife #insurancebrokers #insuranceadvisor #dorsetbusinessowners

Life throws curveballs, don`t let a leaky roof be one! Building insurance provides peace of mind knowing your home`s structure is covered. Talk to Kelly, our insurance advisor, to find the right coverage for your mortgage.⁣

Get in touch on 0800 612 5596 or tap the link in our bio.⁣

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#buildingsinsurance #protectyourhome #dorsetlife #insurancebrokers #insuranceadvisor #dorsetbusinessowners
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Connor joined our team back in July 2017!  He's lived all around the Southwest, from Cornwall to Bristol, and now he's found his sweet spot in Wellington, Somerset—right between the two!⁣
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When he's not crunching numbers, you'll find him whipping up some delicious dishes, hosting get-togethers with friends and family or enjoying the delights at his local cider farm🍺🌿⁣
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All of our mortgage advisors (Connor included) are ready to help you whether you're looking to remortgage, buy your first home, or upgrade to a new one. The best bit is we don't charge a broker fee! Get in touch on 0800 612 5596 or send us a DM⁣
⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#ukmortgage #mortgagesuk #wellingtonsomerset  #mortgageexperts #westcountry

Connor joined our team back in July 2017! He`s lived all around the Southwest, from Cornwall to Bristol, and now he`s found his sweet spot in Wellington, Somerset—right between the two!⁣

When he`s not crunching numbers, you`ll find him whipping up some delicious dishes, hosting get-togethers with friends and family or enjoying the delights at his local cider farm🍺🌿⁣

All of our mortgage advisors (Connor included) are ready to help you whether you`re looking to remortgage, buy your first home, or upgrade to a new one. The best bit is we don`t charge a broker fee! Get in touch on 0800 612 5596 or send us a DM⁣


...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#ukmortgage #mortgagesuk #wellingtonsomerset #mortgageexperts #westcountry
...

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We're flying the flag for Somerset! ⁣
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With a team spread across the Southwest, we're proudly celebrating #SomersetDay and sending a special shoutout to our amazing mortgage advisor, Connor, who's lucky enough to live there.⁣
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Let's have a bit of fun - how many of these places can you name? Share your score in the comments 👇⁣
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...⁣
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#somersetlife #loveforsomerset #visitsomerset #somerset #somersetday

We`re flying the flag for Somerset! ⁣

With a team spread across the Southwest, we`re proudly celebrating #SomersetDay and sending a special shoutout to our amazing mortgage advisor, Connor, who`s lucky enough to live there.⁣

Let`s have a bit of fun - how many of these places can you name? Share your score in the comments 👇⁣


...⁣

#somersetlife #loveforsomerset #visitsomerset #somerset #somersetday
...

4 0
So you've found your dream home and now it's time to apply for a mortgage. Here's what a lender will usually want to know:⁣
⁣
👉 Your income, including any pensions, investments or financial support you receive (e.g. child benefit)⁣
⁣
👉 Your other financial commitments like household bills, overdraft payments and whether you have any children.⁣
⁣
👉 Any potential lifestyle changes that might affect your ability to make repayments in the future, such as having a baby, taking redundancy, or returning to education.⁣
⁣
👉 To prove your incomings and outgoings, you'll need to provide payslips, tax forms, and details of any financial arrangements you have (e.g. car payments, paying off your student loan, pension contributions). You'll also need to show household bills, council tax bills, insurance paperwork, and any invoices for childcare.⁣
⁣
Don't worry if this sounds overwhelming - our team of experts is here to guide you through the process. Give us a call at 0800 612 5596 or visit our website (🔗 in bio) to learn more.⁣
⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage.  Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips

So you`ve found your dream home and now it`s time to apply for a mortgage. Here`s what a lender will usually want to know:⁣

👉 Your income, including any pensions, investments or financial support you receive (e.g. child benefit)⁣

👉 Your other financial commitments like household bills, overdraft payments and whether you have any children.⁣

👉 Any potential lifestyle changes that might affect your ability to make repayments in the future, such as having a baby, taking redundancy, or returning to education.⁣

👉 To prove your incomings and outgoings, you`ll need to provide payslips, tax forms, and details of any financial arrangements you have (e.g. car payments, paying off your student loan, pension contributions). You`ll also need to show household bills, council tax bills, insurance paperwork, and any invoices for childcare.⁣

Don`t worry if this sounds overwhelming - our team of experts is here to guide you through the process. Give us a call at 0800 612 5596 or visit our website (🔗 in bio) to learn more.⁣


...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsttimebuyeruk #firstimehomebuyers #propertyladder #firsttimehomeowners #firsttimebuyertips
...

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