Interest-Only Mortgages are a Massive Problem for Around a Million Homeowners
Citizens Advice has issued a warning about interest-only mortgages and the significant number of homeowners who do not have a plan to be able to pay them off. According to figures released by them,...
View ArticleMortgage Approvals Looking Good in July 2015
Mortgage approvals performed strongly in July this year. In fact, they reached their highest level for over a year, since February 2014. It seems to indicate the market is looking healthier and it...
View ArticleLow Deposit Mortgages Are Coming Back
Many people will remember mortgages that were available a few years ago with just a 5% deposit required from the person making the application. Since the government introduced the Help to Buy scheme,...
View ArticleWill New EU Rules Hit UK Mortgage Lending?
2014 was the year we saw the Mortgage Market Review regulation (MMR) come into force in the UK. It led to vast changes in the way mortgage applicants were considered for a loan. Now the market is on...
View ArticleStudy Reveals One in Seven in Their Seventies Still Have a Mortgage
Most people would hope to pay off their mortgage by the time they retire. However if a recent study by Saga Equity Release Service is to be believed, thousands of people are still paying theirs off...
View ArticleUK Buy-to-Let Mortgages Now Top £200 Billion
The amount outstanding on buy-to-let loans throughout the UK now stands at £200 billion. This figure comes from the Council of Mortgage Lenders (CML), and confirms the buy-to-let boom currently...
View ArticleFCA Requests Input Regarding Mortgage Market Concerns
The Financial Conduct Authority (FCA) has requested information from multiple sources regarding concerns over the way the UK mortgage market is being handled. The FCA is intending to begin a full study...
View ArticleOver 1 Million Households Owe Mortgage Debts of 4.5 Times Their Income
A little over one million households could be in for a shock if interest rates rise in the near future. That’s the verdict of experts from the Office of National Statistics (ONS). The ONS has released...
View ArticleGovernment Set to Restrict Buy-to-Let Mortgages
A recent warning from Bank of England Governor Mark Carney regarding buy-to-let mortgages appears to have been heeded very quickly by the Chancellor George Osborne. On 22nd October, Mr Osborne made an...
View ArticleMortgage Approvals Take a Tumble
It was bound to happen eventually, and as it turned out September would be the month where the markets saw a drop in mortgage approvals – the first one seen in several months. A total of 44,489...
View ArticleSub-Prime Mortgages Return to the UK
Many people will remember the effects of the recession the UK went through in the late-2000s. This was thought to have been triggered by a product called a sub-prime mortgage. This is a mortgage that...
View ArticleNew Mortgage Tariff Launched by Council of Mortgage Lenders and Which?
In the past, many homeowners have found mortgage charges and tariffs difficult to understand. That looks set to change though, as the Council of Mortgage Lenders (CML) and Which? have just released a...
View ArticleMortgage Lending Goes from Strength to Strength in October
Gross mortgage lending reached a peak in October not seen since the summer of 2008, recent figures released have revealed. Mortgage approvals were also up by a little over 600 in October. The market...
View ArticleCould Older Borrowers Soon Find It Easier to Get a Mortgage?
In recent years it has been very difficult for someone of advanced years to get a mortgage. Indeed, we have heard stories about people in their fifties and older (and even sometimes in their forties)...
View ArticleMortgage Repayments Drop Below Rental Prices
The difference between mortgage repayments and rental payments is an area of interest for many. Indeed, those looking to buy will often consider whether it is cheaper to rent or to buy, so they can...
View ArticleAverage England House Price Reaches £300,000
House prices in the UK have risen considerably in the past year, according to the latest figures released by the Office for National Statistics (ONS). The average rise seen in prices in the past year...
View ArticleWhat Lies in Store for the Mortgage Market in 2016?
Now Christmas is over and the New Year is well and truly underway, all eyes are on the mortgage market for 2016. The main focus of attention is falling squarely on interest rates, and whether...
View ArticleAverage Outstanding Mortgage Up by £2,000
Research has indicated the average outstanding mortgage in the UK is now £2,000 higher than it was a year ago. In 2014 the average amount left on a mortgage was £83,000, whereas this year it has risen...
View Article35-Year Mortgages Becoming More Commonplace
The traditional length of a mortgage used to be 25 years. However, if new reports are taken into account, this may be changing even as you read this. According to new information released by Halifax, a...
View ArticleBuy-to-Let Investors in Rush to Beat April Stamp Duty Deadline
Buy-to-let mortgage lending has risen sharply following the announcement in November last year concerning a rise in stamp duty. The rise will come into force in April 2016, and the intervening months...
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