UK's Mortgage Guide

Benefits of getting a 50 year mortgage

admin — Fri, 13 Oct 2017 15:52:00 +0000

The traditional mortgage in the UK was a 25 year mortgate, in which the building society lent three times the borrowers income. However times are quickly changing. Double digit house price inflation during the past 10 years has meant the house price to earnings ratio has increase faster than the rate of inflation. The historical …

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What to Look for when switching Credit Cards

admin — Mon, 09 Oct 2017 17:10:46 +0000

When getting a new credit cards there are certain things to look for to make sure you get the best deal. 1. Which is most important a low introductory rate or a low AVR?2. How long is the introductory period (can range between 3 and 6 months)3. Do you get points for spending? This is …

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US Mortgage Dealers going bust in record numbers

admin — Mon, 09 Oct 2017 17:10:46 +0000

The fall in US house prices is having a knock on effect on the US economy. With house prices falling it is causing a fall in consumer confidence and consumer spending. “Nouriel Roubini, economics professor at New York University, says the housing bust is slowly pulling America into recession. He cites a 14.4pc drop in …

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UK Niche Mortgages

admin — Mon, 09 Oct 2017 17:10:45 +0000

With ever increasing levels of competition in the UK mortgage market mortgage dealers are increasingly looking into niche, unconventional mortgages to find a more profitable market. These niche markets are increasingly taking advantage of the difficulty UK first time buyers have in getting a mortgage. New mortgage schemes such as Joint MortgagesInterest Only MortgagesPerpetual mortgages50 …

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UK January Inflation figures good news for homeowners

admin — Mon, 09 Oct 2017 17:10:45 +0000

The latest CPI inflation figures released by the bank of England show that the main inflation rate was 2.7% in January. This is a fall of 0.3% on the December figures. However the old method of calculating inflation, the RPI was 4.2%. This higher inflation figure is mainly because it includes mortgage interest payments. The …

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UK House Prices Rise faster than other countries

admin — Mon, 09 Oct 2017 17:10:45 +0000

House Prices in the UK in 2006 rose faster than most other industrialised countries. UK prices rose by about 10% last year. This was helped by low real interest rates and a strong economoy. In Europe house prices rose more slowly. e.g 7% rise in France, 4% in Italy and no growth in Germany. However …

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UK Government Mortgage Subsidy

admin — Mon, 09 Oct 2017 17:10:44 +0000

Open Market Homebuy is a Government-backed scheme that aims to help certain groups of people who can not afford to buy a home on the open market without assistance The ’Homebuy’ scheme provides you with an equity loan equivalent to 25 per cent of the purchase price of a property.. The loan is paid back …

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Top 10 Financial Tips for saving Money

admin — Mon, 09 Oct 2017 17:10:43 +0000

1. Avoid Late Payment Penalties. Don’t be hit by penalties for late payment. Make sure you always pay off at least the minimum on your credit cards. A good tip is to set up a direct debit so that your payment can never get delayed in the post. 2. Arrange Overdrafts First. If you are …

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Single Mother gets Money Back from Bank

admin — Mon, 09 Oct 2017 17:10:42 +0000

A single mother has personally reclaimed more that £23,000 in bank charges for herself and her friends despite having no financial or legal training. She received back over £500 for penalty charges made by her bank, the Halifax. She threatened to take them to court unless they would pay the money back. After getting the …

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Reducing Burden of Mortgage interest Payments

admin — Mon, 09 Oct 2017 17:10:41 +0000

For most people in the UK mortgage payments represent the biggest section of their disposable income. With rising UK house prices, to get on the property ladder, often involves borrowing as much as the banks are willing. However with the recent rise in base rates homeowners are starting to feel the pinch of mortgage payments …

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