News
Welcome to our News page which is updated regularly to bring you the latest developments in the mortgage industry. If you would like to be kept fully up to date with our latest news, please subscribe to our feed.
Jul 25
Research by Defaqto has revealed that between April and June 2011, some 8,968 mortgages were either introduced onto the market or updated by lenders, and almost 600 products were taken off the market.
During these same three months, 186 totally new fixed rate mortgages came onto the market as did 80 new standard tracker rate products and 99 new buy to let loans.
So it has to be said, with so much change, how can consumers possibly keep up with the mortgage market without the help of a mortgage broker? (more…)
Jul 22
Your home is your biggest asset and as such has a great deal of time, money and worry spent on it. However, it is often the case that homeowners do not even realise that they are paying over the odds or that there are better mortgage deals on the market, meaning every month thousands are unnecessarily struggling to meet repayments.
No matter what your current situation is, it is always a good idea to look into remortgage deals. For even more options and for expert guidance, speak to a remortgage broker. (more…)
Jul 18
Mortgage lender Santander recently starting quoting a ‘shelf life’ on their new mortgage deals.
Within the last few weeks, two fixed rate deals were launched by the lender, available only through brokers. One was a five-year fixed rate at 4.99%. It was free from fees and offered up to 85 per cent loan-to-value. The other was a two-year fixed rate at an astonishingly low 2.89%. It was aimed at borrowers with a minimum 40 per cent deposit and carried a £995 fee. The deals were available for seven days only. (more…)
Jul 11
According to Moneyfacts, the average rate of a fixed term or tracker is at its lowest level since 1988.
The Moneyfacts research has revealed a two year fixed rate is available at an average of 4.32% and for those happy to tie in for three years, it’s 4.92%. Those borrowers with a longer term view in mind can fix for five years at 5.29%. Two year trackers are averaging out at 3.37%. (more…)
Jul 08
Not everyone has a perfect credit history. In fact, more and more people are finding themselves in a situation where they think they have little chance of getting a loan or a mortgage due to bad credit. Mortgage lenders are being more careful who they lend to, but you should not write off getting one just because of past troubles. Bad credit mortgage deals are available, but only if you know where to look. (more…)
Jul 04
Most people recognise the importance of life insurance and have taken out cover at some stage. But many don’t realise the significance of keeping it up to date. When things change that could impact your finances, it’s important to make sure your level of life insurance cover is still adequate.
Sainsbury’s Life Insurance has revealed in a recent survey that more than five million Brits could be leaving their dependants facing a financial struggle because over half with life insurance don’t update their cover when a significant change occurs in their personal circumstances. (more…)
Jun 27
Some fifteen per cent of borrowers have never changed their mortgage lender, according to research from Go Compare.
Go Compare’s business development director, John Miles, said: “Against a backdrop of rising prices for fuel and groceries, car insurance premiums at record highs and low interest rates on savings, consumers could make much needed savings by reviewing their financial products and switching to a better deal. But as our survey reveals nearly a quarter of consumers haven’t switched on to the benefits of switching.”
There could well be a whole host of far more attractive mortgage deals out there, but how do you find them? Comparison websites are all very well, but did you know, not every deal can be found on them? (more…)
Jun 24
Knowing who you can trust when it comes to your money is often a dilemma that people across the UK face. In most cases, buying a home is the most expensive and important financial decision of a lifetime. If you are in a position where you are ready to invest in a property but are unsure of what’s involved, feel overburdened by getting the right mortgage or just want to leave everything in the hands of someone who knows what they are doing, invest in advice from a whole of market mortgage adviser. (more…)
Jun 20
When moneysupermarket.com questioned UK consumers on their approach to repaying debt, they found one in seven (14%) made only the minimum repayment each month. 10% do so because that is all they can afford, whilst 4% go down that route in order to free up disposable income. (more…)
Jun 13
If you have an interest only mortgage and are heading for or in retirement, you may well have just received the shocking news that you are fast approaching your redemption date.
Perhaps you had planned to repay your mortgage by downsizing to a smaller property or selling up and moving in with relatives? If so, it may well be the case that you are facing the concern that stares many property sellers in the face lately: difficulty in selling. (more…)
Jun 10
A lot has been written recently about how the current property market is making it difficult for first time buyers to get on the property ladder. Although this is true, there is no shortage of people looking to take their first step into home ownership. If you fall into this category, there is a lot of consider. So much in fact, it pays to invest in first time buyer mortgage advice. (more…)
Jun 06
Using a mortgage broker to fully handle a mortgage application takes away all the pressure. A broker will also go out of their way to find you a suitable product by scanning the whole of the market, something you know you don’t have the time to do.
According to a recent Halifax report which looked into the attitudes and behaviour of the younger generation toward home-ownership in the economic downturn, two thirds (64%) of non-homeowners believe they have no prospect whatsoever of buying a home. (more…)
