The Council of Mortgage Lenders has released new data that shows the proportion of UK mortgages in serious arrears has dropped considerably in recent months. The figures show that the first quarter of this year saw a drop in the number of mortgages in arrears in every band. Good news for the market and for … Continue reading “UK Mortgages in Serious Arrears Drop to Lowest Level in 7 Years”

Angry landlord borrowers have accused UK Asset Resolution (UKAR) the body created by the government to oversee mortgages originally arranged by Northern Rock and Bradford & Bingley of treating them badly. Many mortgage customers allege that UKARs heavy-handed policies have caused a host of difficulties for landlords and tenants alike, such as the collapse of … Continue reading “UKAR Accused of Mistreating Landlord Mortgage Borrowers”

New figures published this week have revealed high levels of confidence in Britain’s property and mortgage market for the beginning of this year. The data, published by Mortgage Introducer, revealed that the price of properties coming on to the market for the first time were up 1.6 per cent this month, and this had also … Continue reading “Upbeat Property Market to be Hit Hard by End of Stamp Duty Exemption?”

New research has shown the potential effects that could be felt by mortgage holders if interest rates were increased by 1%. Savills has discovered a rise of 1% in the current base rate would lead to an increase of some £4.3 billion in the mortgage bill owed by those on variable rate mortgages. Factoring in … Continue reading “Warning for Variable Rate Mortgage Holders Concerning Interest Rate Rise”

Remortgage is a common-enough word to encounter when you are reading about home loans and how to get them. A mortgage is a loan that helps you get your own property. A remortgage, then, is a loan that replaces the initial one you had – usually offering a better deal in the process. Here, we … Continue reading “What Does Remortgage Mean UK: Learning the Basics”

A quick guide… If you find yourself in a position where you need to rent out your home to tenants then you have become what we describe in the business as an accidental landlord. Many first time landlords are not aware of the fact that if they rent out a property which has an existing … Continue reading “What is a Consent to Let Mortgage?”

We are all familiar with the term buy to let – the process of buying a property with the intention of letting it to someone who wishes to rent. However, the term let to buy is far less well known. In simple terms, a let to buy mortgage can be taken out by someone who … Continue reading “What is a Let to Buy Mortgage?”

A mortgage broker is a basically the middleman or the intermediate between the lender and the borrower of money. Brokers have become quite popular and significant in the industry of mortgage products and most of the products are sold actually from the brokers rather than the banks or building societies directly and as a result … Continue reading “What is a Mortgage Broker?”

Unfortunately the phrase negative equity doesnt often come to the forefront of anyones attention unless they are confronted with the concept first hand. Many people are under the impression that being in negative equity situation means that the threat of a repossession order, but this is nothing but a myth, a falsity, and an extremely … Continue reading “What Is Negative Equity?”

Now Christmas is over and the New Year is well and truly underway, all eyes are on the mortgage market for 2016. The main focus of attention is falling squarely on interest rates, and whether homeowners will have higher rates to pay in the coming months. There were continual threats of interest rate rises throughout … Continue reading “What Lies in Store for the Mortgage Market in 2016?”