Category: all types of mortgages

Easing the Financial Strain…

I did have a small chuckle last week as reports emerged from the government that the ‘mortgage rescue scheme’ initiative (which was due to ‘save the world’), has assisted just one family. This is despite suggestions that it would be available to circa 6,000 in the country. In an hour of need, it surprises me […]

The right time to invest?

House prices are low, mortgage interest rates are competitive, traditional investment returns are poor. Therefore, purchasing a property as an investment might be viewed as an opportunity to make decent returns on savings. Let’s look at this in more detail. A ‘Buy to Let’ mortgage is specifically targeted at borrowers who wish to invest in […]

The Highs and Lender Lows…

Let’s start this week with some really good news! Halifax have announced that they are going to refund stamp duty for first time buyers who purchase properties up to £250,000. They will rebate the 1% stamp duty figure which takes effect above £175,000 after completion. This is available to first time buyers only and is […]

Buy now, Fix now!

Not only is it a great time to buy, but remortgaging is becoming attractive too. There are some very competitive 3-10 year fixed rates available and the continued uncertainty in the financial markets is causing borrowers to review and stabilise outgoings longer term. A few weeks back, I mentioned that fixed rates were set to […]

Mortgage payments are being missed..

When I was approached to write these weekly columns, the brief was to be descriptive and update readers with news from the world of mortgages not on general release. Whilst I knew times were tough, I didn’t realise how little positive news there actually is (or isn’t) in our market! Believe me, I look for […]

HIPS from the outset…

New legislation came into force with effect from Monday last week regarding Home Information Packs (HIPS). Every property must now have a HIP available on the first day it is marketed for sale. The seller has to provide a copy of the pack free of charge; however, a ‘reasonable’ charge may be made to cover […]

Mortgage Approvals up!

The mortgage world entered this nightmare way back in August 2007. The first signs of problems, to the public eye at least, were that of Northern Rocks issues in October 07. In just that small passage of time, we lost some four or five lenders in ‘our world’. Yes they were relatively small, lending just […]

Mortgage lending restricted to 3 times income?

This weeks announcement from the Council of Mortgage Lenders advises that mortgage lending figures for February were down some 60% against the same time last year. Hardly surprising when available products had dropped some 85% in the same period and most lenders criteria has changed dramatically! Due to the continued pressures that lenders are placed […]

The day of the First Time Buyer…

The great ‘new news’ of the week is that Northern Rock have confirmed their intent to lend over the next 2 years and are to increase their product offerings to 90% of the property value. This shows ambition from the lender in dire times, especially for first time buyers. A spokesperson, commenting in trade press […]