Should 100% mortgages make a come back????

Three market industry leader have there option of a 100% mortgage making a return. Read here if interested http://www.mortgagesolutions.co.uk/your-community/2018/03/21/100-ltv-mortgages-make-comeback-marketwatch/?utm_source=customsell&utm_medium=email&utm_campaign=msol-editorial-newsletter-market-watch-house-advert-bsla-21-march-1521644293 Here is my 2 cents worth. Yes they should but, under the following criteria. 1) Minimum interest rate should be 5% and this would be fixed for 5 years 2) Bring back read more

Mortgage fixed rate products low because of a sluggish housing market

I just finished reading an article about how the mortgage fixed rate products are being kept low because of a sluggish housing market. Read here if you are interested. http://www.telegraph.co.uk/personal-banking/mortgages/sluggish-housing-market-keeps-mortgage-rates-rock-bottom-even/ It amazes me on the flip flog news article I am seeing of late. One article stating that rates are going up and expect doom and gloom and then others saying how the rate will stay low. I know everyone has an opinion, but these are read more

How young homebuyers are walking into debit

I just finished reading the Daily Mail (Money Mail Section Sep 20th 2017) According to the article, young home buyers are taking on billions of debit just as interest rates are about to rise. The article also stated that more than £35 billion of fixed home loan deals will come to an end in the next 2 months and these borrowers will then be moved onto a variable rate deals. Folks. The article was very negative and did a lot to try and scare the public but gave little in the way of solution or advice. It is read more

New regulation on how much you can borrower on a mortgage

Such "reversion" rates are often the same as the lender's standard variable rate, or SVR. According to Ray Boulger of John Charcol, the broker, SVRs can currently be as high as 5.75pc. This could mean that some banks are forced to stress test at a very high rate of 8.75pc. Stringent new rules on mortgage affordability could force borrowers to prove that they could afford repayments almost twice as high as the expected monthly cost of their loan. The Bank of England announced the beefed-up rules on affordability or read more

Bank of Mom and Dad, the 10th biggest lender

The "Bank of Mum and Dad" is the 10th biggest UK mortgage lender as buyers increasingly rely on financial support from their parents, a report suggests. Parents will lend £6.5bn this year, according to insurer Legal and General, and be involved in 26% of all UK property transactions. This is up from the £5bn of lending estimated in L&G's equivalent survey a year ago. The average first-time buyer requires a deposit of about £26,000, lenders say. Figures from the Council of Mortgage Lenders (CML) show that the read more

Fixed rate mortgages are dropping

BRITAIN’S biggest building society has unveiled some of its lowest ever ¬mortgage deals for first time buyers — ramping up the war between lenders. Nationwide Building Society is cutting rates on selected two and five-year fixed and two-year tracker mortgages by up to 0.1%.ETTY IGES 3 Nationwide is cutting rates on selected two and five-year fixed and two-year tracker mortgages by up to 0.1 per cent For those with a 10 per cent deposit, often first time buyers, its two-year fixed rates have been cut to 2.19 per read more

Mortgage customers losing £1000’s because of apathy

The research from L&C Mortgages also discovered that 30 per cent or 3.4 million households do not know their current interest rate of their mortgage, and with a total £2.78 billion in lost. ‘Lack of awareness’ Standard Variable Rate mortgages (SVR) appear to be the biggest offenders. With 36 per cent of homeowners on SVR mortgages which tend to be higher sees homeowners lose hundreds every month. David Hollingworth from L&C Mortgages explains, “It’s worrying to see so many people still on a Standard Variable Rate read more

Mortgage market, A strong start to the year

The mortgage market has had its strongest start to a year since 2008, with lending up by 2% from January 2016. The Council of Mortgage Lenders said that gross mortgage lending was £18.9 billion last month. This figure is 2% higher than the £18.5 billion lent in the same month last year and the highest total since the £25.2 billion lent in January 2008. Despite the rise, the figure was 6% down on December’s figure of £20 billion. CML economist, Mohammad Jamei, said: “Overall mortgage lending continues to hold up read more

Bank of Scotland in line for a payout to a mortgage prisoner

Bank of Scotland has been ordered to pay a customer back thousands of pounds who was forced to stay on a standard variable rate after being told he could not afford to switch to a cheaper rate. The customer, who wishes to remain nameless, paid out as much as £12,550 over an 18-month period when the lender, which is part of Lloyds Banking Group, refused to allow a product transfer, the Telegraph reported. In May 2015, the borrower was turned down by the lender after he tried to switch his existing interest-only read more