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”

The Daily Telegraph newspaper examined a number of good new mortgage deals on the market this week, along with verdicts from financial experts Moneyfacts and Moneynet. Here are two of the best mortgages featured: 1) Melton Mowbray Building Society is offering a variable rate mortgage deal with a two-year discounted rate of just 4.95 per … Continue reading “Telegraph Takes a Look at Top Mortgage Deals”

Any financial adviser worth their salt will tell you that one of the major reasons for life insurance is to ensure your dependants are not left high and dry in the event of your death. Being able to maintain payments on one’s home is a large part of their continuing welfare and comfort. However, a … Continue reading “4 in 10 Mortgage-Holders Lack Life Insurance Payment Protection”