AOL Money this week revealed what it considers to be the 10 best fixed-rate mortgage deals in the UK, arguing that despite initially higher charges, fixed-rate mortgages provide peace of mind over the long term. Let’s take a look at the recommendations When it comes to two-year fixed rate mortgages, HSBC’s is highly recommended thanks … Continue reading “Top Ten Fixed Rate Mortgages”
Most of us are familiar with the idea of the 25-year mortgage. Few home buyers have ever opted for a mortgage with a term of less than this. However it looks as though the popularity of this term may be waning, and it comes as a direct response to the rising house prices we are … Continue reading “The Traditional 25-Year Mortgage is Becoming Less Popular”
The report, published as part of Rightmove’s Consumer Rental Forecast, said that over a quarter of tenants currently “trapped” in rented properties by budget constraints were over 40 years of age and were at great risk of becoming “OAP mortgagees”. It defined such people as “trapped renters” people who would like to obtain mortgages but … Continue reading “Trapped Renters’ Unable to Get a Mortgage”
Most people would agree the chances of finding a mortgage with a lower interest rate than an average savings account would be slim to none. However the state of the mortgage market in the UK in recent months has changed this. Nowadays it is easier than you might imagine to find a superbly-low interest rate … Continue reading “Over Two-Dozen Mortgages Have Lower Interest Rates than Savings Accounts”
The latest research shows that those looking for a two year fixed rate mortgage may have to pay a higher interest rate than they have in the past. Research by Moneyfacts has revealed the average rise added up to around 0.09% more by 30th April 2014 than it was on the first day of the … Continue reading “Two Year Fixed Rate Mortgage Interest Rates Are on the Rise”
The amount outstanding on buy-to-let loans throughout the UK now stands at £200 billion. This figure comes from the Council of Mortgage Lenders (CML), and confirms the buy-to-let boom currently gripping the country. The last five years has seen a massive rise in the amount of buy-to-let lending taking place across the country. Both purchases … Continue reading “UK Buy-to-Let Mortgages Now Top £200 Billion”
The British Bankers Association (BBA) said today that the number of British mortgage approvals fell in November due to the continuing economic uncertainty across the UK. The BBA’s monthly report said that UK households were generally more prone to repay existing debts than take on new loans including mortgages. In total, some 34,738 mortgages were … Continue reading “UK Consumers Remain Cautious Over Mortgage Borrowing”
There was good news this week for anyone seeking a high-value mortgage, with the news that Great Britain’s high-street banks are now increasingly offering larger home loans. Previously only private banks have offered mortgages for £750,000 or more, but in the past year or so mortgage brokers are placing a growing number of million-plus loans … Continue reading “UK High Street Banks Move Into Large-Scale Mortgages”
Prior to the EU Referendum vote, no one knew what effect the outcome could potentially have on house prices. As it was, the vote for Brexit did not trigger the doom and gloom many Remainers predicted it would. With that said, though, increases in house prices have slowed in recent weeks, although they still remain … Continue reading “UK House Prices Are Dipping, According to Latest Figures”
The latest figures to be released from the Office of National Statistics reveal the total amount of property debt in the UK has surpassed the £1 trillion mark. This focuses on the total amount outstanding for property debt on someones main residence and also on any further properties someone might own. Not surprisingly, property owners … Continue reading “UK Households Now Hold £1 Trillion in Property Debt”