The White House revealed yesterday that US President Barack Obama is to launch a new task force with the job of investigating alleged mortgage fraud. The new initiative will be jointly operated with New York attorney-general Eric Schneiderman, who has long been interested in untangling alleged fraud cases involving mortgage-backed securities and general household mortgages. … Continue reading “Obama Heralds New Mortgage Task Force”

Most people looking to buy a property will need to save a four-figure sum to put down as a deposit. Now, a recent survey has discovered almost one in four people (23%) looking to buy a property for the first time take between five and 10 years to save the required amount of money. The … Continue reading “One in Four First Time Buyers Take Over Five Years to Save a Deposit”

Think of property prices and the highest ones that come to mind will undoubtedly be in London, followed by the South East. However, as recent research by Savills has revealed, the London properties are those with the greatest loan-to-value ratios. While property prices in other parts of the country are much lower than those in … Continue reading “Outstanding Loan-to-Value Amounts Are Lowest in the Capital”

There was a time when people got mortgages at a young age and paid them off before they retired. But new figures from Prudential have revealed this is becoming less likely today. The insurer has found a proportion of those retiring in 2017 will still have outstanding mortgage payments to make. Currently, 38% of retirees … Continue reading “Outstanding Mortgages Common Among Retiring People”

A little over one million households could be in for a shock if interest rates rise in the near future. Thats the verdict of experts from the Office of National Statistics (ONS). The ONS has released the information as part of its Economic Review for October 2015. It refers to households that are highly leveraged … Continue reading “Over 1 Million Households Owe Mortgage Debts of 4.5 Times Their Income”

According to the Financial Conduct Authority, almost 20% of mortgage holders have an interest-only mortgage. Furthermore, around 85,000 interest-only mortgages will reach maturity this year. It is thought that over 11,000 of those mortgage holders will face problems when that time arrives. If they cannot find the funds to clear the mortgage, they could end … Continue reading “Over 11,000 Families on Interest-Only Mortgages at Risk of Losing Their Homes in 2018”

Platform has announced that it is reducing its rates on their 2 year fixed buy to let deals with effect this week. The lender has a range of Buy to let deals ranging from 60% loan to value (LTV) up to the 75% LTV level with the rates ranging from 3.69% – 4.69%. Platform is … Continue reading “Platform Reduces its Buy to Let Rates”

Are you looking to move home? Do you have an existing mortgage with Nationwide Building Society that you would like to move with you to your new property? If so, you have come to the right place. The Mortgage Broker Limited has the experience required to assist you with your requirements. What does it mean … Continue reading “Everything You Need to Easily Port a Nationwide Mortgage!”

It was predicted that mortgage approvals would see a rise after the election result was known, and this has indeed happened. The mortgage approvals agreed in May rose by approximately 4% compared to the same time a year ago. 2015 has turned out to be a good year in terms of mortgage approvals. Each month … Continue reading “Post-Election Surge in Home-Buying Sees Mortgage Approvals Rise”

In what must be seen as a significant influence on the UK mortgage market, the Post Office announced this week that it is cutting rates for its fixed-rate and tracker mortgages. The reduction of up to 1.01 per cent in the mortgage rates has catapulted many of the deals to the best-value charts. Perhaps the … Continue reading “Post Office Cuts Mortgage Rates”