First Time Buyers Start to Gain From Mortgage War.

First Time Buyers Start to Gain From Mortgage War.

It now seems that some lenders are slowly starting to offer more competitive deals to those with smaller deposits, which is good news for many first time buyers.

Therefore, there are now signs that innovative new deals are coming to the market to help people get their foot on the housing ladder. Read more

Another Mortgage War Begins!

Another Mortgage War Begins!

It appears that mortgage lenders have been slashing their rates following the introduction of a multibillion pound scheme, the funding for lending scheme, which was launched in August last year.

The scheme was introduced in order to boost borrowing by giving lenders access to cheap finance and the number of mortgages on the market has now increased by nearly a fifth since the scheme started. Read more

Post Office Cut Their Mortgage Rates!

Post Office Cut Their Mortgage Rates!

The start of 2013 has seen an avalanche of lenders offering mortgage rate cuts.

Lenders have been tempting borrowers with a range of cuts to fixed rate mortgage deals and the lowering of mortgage fees. Read more

Is Help at Hand For Mortgage Prisoners?

Is Help at Hand For Mortgage Prisoners?

It seems that falling house prices amongst other things have now turned many home owners in to mortgage prisoners. As many of these home owners have seen the equity in their homes eroded or even wiped out completely.

Recent research has also shown that many people in the UK including home owners have been unable to obtain further finance for mortgages due to them been self employed, having credit impairment problems or just employment changes. Read more

The Buy To Let Sector in 2013.

The Buy To Let Sector in 2013.

The property market still remains full of challenges, but it appears that one sector is however booming…..the buy to let sector, according to the rental industry’s most recent figures.

Current statistics show that the proportion of households renting in the UK has increased in the past decade from 31 per cent to 36 per cent. Read more

Co-Operative Fined Over PPI Mis-Handling.

Co-Operative Fined Over PPI Mis-Handling.

Apparently payment protection insurance (PPI) is the most complained about product that the Financial Ombudsman Service (FOS) has ever seen.

Complaints about the payment protection insurance (PPI) mis-selling scandal are continuing to surge beyond all expectations and many analysts believe that the total industry wide bill will easily reach around £15 billion. Read more

Remortgaging Levels Fall.

Remortgaging Levels Fall.

It appears that Remortgage activity in the UK has been pretty subdued for some while, with low back book rates limiting the rationale for borrowers to refinance onto new deals, and generally flat house prices doing little to improve the refinancing options for households with limited equity. 

It seems then that in today’s market a significant numbers of borrowers feel that it is the right decision is to remain on a their lenders Standard Variable Rate (SVR),which is a very different decision to the historical norm where customers who stayed put and did not remortgage saw a sizeable increase in their monthly payment. Read more

Lenders Need to be Vigilant About Mortgage Fraud.

Lenders Need to be Vigilant About Mortgage Fraud.

It appears that mortgage fraud remains a current issue with increasing levels of sophistication and innovation from fraudsters.

Experian, the global credit information group, latest fraud index revealed that attempted mortgage fraud in the third quarter of 2012 was up 6 per cent on the same period in 2011 with 38 in every 10,000 applications deemed fraudulent. This is compared to 36 in every 10,000 12 months ago. Read more

Barclays Launch New First Time Buyer Deal.

Barclays Launch New First Time Buyer Deal.

In recent years the number of first time buyers in the market has fallen rapidly, this in part is thanks to tighter lending restrictions and high deposit requirements.

However, according to recent figures from the Council of Mortgage Lenders (CML) lending to first time buyers has now reached its highest point since 2008, but it is still much lower than the figures seen in 2007. Read more

Interest Rate Predictions in 2013.

Interest Rate Predictions in 2013.

Andrew Sentence, pricewaterhousecoopers senior economic adviser and member of the Monetary Policy Committee (MPC) suggests that rates need to rise to at least 3 per cent by 2015 in order to reduce the risk of ‘distorting’ the economy.

However as many experts know a rate rise at the moment would almost certainly affect most mortgage holders in a detrimental way, especially those on variable rate deals as it would mean an immediate increase in costs. Read more

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