The Skipton Building Society announced today that it has cut the costs for customers seeking to take advantage of its buy-to-let mortgages. Borrowers looking for a two-year fixed-rate buy-to-let mortgage with 70 per cent or less loan-to-value (LTV), will now receive interest rates of 3.89 per cent, compared to 4.09 per cent previously, as well … Continue reading “Skipton Cuts Buy-To-Let Mortgage Costs”
Broker Savills said that there will be an 11 per cent drop in house prices between now and 2016, returning the market to a level far closer to the financial landscape in 2001-2. It said that repossessions will likely be kept to a minimum thanks to continuing low interest rates, which will also help prevent … Continue reading “Slow and Steady House Price Drop Set for Five Years”
Recent data has revealed buyers with deposits worth a maximum of 15% of the property price now account for one-fifth of the current mortgage market. February’s figures from e.surv saw 20.5% of buyers contributing a deposit worth 15% or less of the property price. This national figure is up by 1.8% on the previous month. … Continue reading “Small Deposit Buyers Make Up One-Fifth of the Mortgage Market”
A recent survey by the charity Shelter has produced some sobering results with regard to how people meet their mortgage payments. While most people manage to pay them from their monthly earnings, the survey revealed a small percentage has resorted to payday loans to help ensure they meet their regular payments. 2% have resorted to … Continue reading “Small Percentage of Britons Use Payday Loans to Meet Mortgage Payments”
For many people, the route to paying off their mortgage will be to continue making monthly payments until the amount is completely cleared. However, recent research has shown that around 9% of those who still have mortgages are planning to use their pension pot to clear the outstanding balance. The research was conducted by Partnership, … Continue reading “Some People Plan to Dip into Pension Pot to Clear Mortgage”
As the dust continues to settle around Europe from last weeks EU bail-out of Spanish banks, many are left wondering which country will be next to remove its cap and send it up-turned to Frankfurt. Portugal, Ireland and Italy are all falling under mounting scrutiny as banks across many European nations continue to admit that … Continue reading “Spain – Should we Brits Invest?”
Research by the Council of Mortgage Lendershas found that towards the end of last year, some 1.8 million householders had reached the end of their fixed-term deals and moved to a variable rate. The industry body said that the move had been worth a total of £4 million or “an average of around £2,600 for … Continue reading “Standard Rate Mortgages Save Borrowers £2,600”
Late last year we reported on the warnings that had been given for those who were looking to apply for a new mortgage. With interest rates at a historic low, many are concerned that people will apply for a mortgage now and not be able to afford their repayments once rates start to rise. The … Continue reading “Stress Test Guidelines to be Applied for New Mortgage Applicants”
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 beyond the age of 70. The research reveals that one in seven of those questioned (a total of 1,500 … Continue reading “Study Reveals One in Seven in Their Seventies Still Have a Mortgage”
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 is offered to those who would be rejected for a traditional mortgage. This is usually because the individual has a … Continue reading “Sub-Prime Mortgages Return to the UK”