Stay up to date with the latest rate changes by the Bank of England or main stream lenders.
Recent figures have revealed that mortgage approvals climbed 21 per cent in July this year from the previous year.
Richard Sexton, director of e.surv, a chartered surveyor has said that “Confidence is seeping back in to the mortgage market.” Read more
Phase 2 of the help to buy scheme may prove expensive for borrowers!
For many young people nowadays, the dream of owning their own property looked set to stay just a dream. But that was before the government launched its help to buy scheme!
Prime Minister David Cameron says that he” hopes the scheme will make the dream of home ownership a reality for many who would otherwise have been shut out.” Read more
Help to buy scheme (part 2) brought forward…..
The Government launched Help to Buy phase one earlier this year to give a boost to the housing market.
The Government’s next boost for the property market claims it will help full fill people’s ‘aspiration’ of home ownership. Read more
Buying a Property Off Plan!
During the property boom years, buying a property off plan was a popular concept, but when the market plummeted, so did the demand for off plan.
Government schemes have given house builders a boost in recent times and things it seems is finally starting to pick up. Read more
The Current Housing Market.
Research has shown that confidence is flooding back in to the UK housing market.
Figures show that mortgage approvals in July this year has been 30 per cent higher than a year earlier and house prices have also risen by around 5 per cent in the year to August 2013. Read more
Tesco Bank Cuts Mortgage Rates!
Tesco’s bank started to offer mortgages to consumers in August 2012 and since then they have advanced £258 million in secured mortgage lending.
According to the Council of Mortgage Lenders (CML) the lender is estimated to hold a 0.2 per cent market share with lending of around £0.3 billion. Read more
The Post Office Once Again Cuts Its Mortgage Rates.
With the second phase of the Help to Buy scheme now underway it seems that some lenders are starting to come out with competitive rates on high loan to value (LTV) products.
The thing is that getting a foot on the first rung of the housing ladder is still a real struggle and saving for a deposit is often the biggest hurdle. However, deals that require a smaller deposit can go some way to easing the financial strain. Read more
National Empty Home Loan Fund.
Figures show that there are an estimated 870,000 empty homes in the UK and this would potentially be enough empty commercial property to create 420,000 new homes.
Therefore it seems that one in twenty properties in the country is empty. Read more
Clydesdale Bank Face Fine!
For most people mortgage payments are their biggest monthly outgoing and we all budget on the assumption that the information our mortgage lender gives us about what we need to pay is correct.
In April 2009, the Clydesdale bank, which is owned by National Australia Bank, realised that it had been miscalculating the repayments for 44,500 variable rate mortgage borrowers, due to a computer error. As a result, 22,000 borrowers were left with a shortfall. In some instances the undercharging dated back to 2005. Read more
Should More Products Be Available for Existing Mortgage Customers?
Remortgaging can be a hassle but the good news is that mortgage rates are now at their lowest ever levels and by switching to a better deal, home owners could find their monthly repayments come down significantly, particularly if they have built up a decent chunk of equity in their home.
According to figures published by the Council of Mortgage Lenders (CML) remortgage lending had its best month in 5 months in April this year. A total of £3.4 billion was advanced those remortgaging, this was up 9.7 per cent on the amount advanced in March this year. Read more
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