Bank of England at it again!!!!!

I read an article threating, again, that banks must behave on how much money they are willing to lend to customers. read here https://www.telegraph.co.uk/business/2018/03/16/bank-england-warns-mortgage-risk-interest-rates-rise/ I am getting tired of this. It is so simple. Customers will have to take there own responsibility or face losing there home and or bankruptcy. We do not need the Bank of England or the governments help or there influence with these matters. read more

Landlords PLEASE RAED

I have completed reading an article stating that Buy-to-let lenders are not ready for new energy efficiency laws that may put the brakes on new business. The regulations – which come into force on April 1 – make it illegal for landlords to start new tenancies without the property having an Energy Performance Certificate rating of ‘E’, or higher. Read here https://www.mortgagestrategy.co.uk/new-energy-laws-trip-buy-let-lenders/ Landlords who own older properties may have problems when ew tenancy need to be read more

Todays buyers are less likely to own a house than those from 20 years ago

I completed an article saying that First Time Buyers have less of a chance of home ownership than their counter parts from 20-30 years ago. See article here https://www.mortgagestrategy.co.uk/ifs-damns-young-adults-homeownership-chances/ It is the first article that I have read stating the truth as to the reason why. Most article that I have read are showing the divide between the static income vs increase price argument but, this one stated the real problem. The real problem is regulation. 20 years ago, read more

Councils have the right to charge tax on empty properties

I have read an article stating that the Government have given local authorities the right to start changing council tax on empty properties. Philip Hammond stated "It can’t be right to leave property empty when so many are desperate for a place to live" We all know this is a load of crap. It is another way to generate money for a starving government. I don't know about the rest of the country but around here landlords want rent money and if a property is empty it is usually because it is going through read more

Two-year mortgage deals Dangerous according to press.

I just finished an article stating that 2-year fixed rate mortgage deals are DANGEROUS because of POSSIBLE stagnant house prices and POSSIBLE high interest rates. Read here if you are interested. http://www.telegraph.co.uk/personal-banking/mortgages/mortgage-warning-two-year-deals-dangerous-house-prices-weaken/ The head of the Bank of England said that there might be an increase in the interest rate if he does not see a change in the inflation rate. Also, House prices could become stagnant but there is read more

Possible interest rate rises according to Mark.

I finished listening to a short video were Mark Carney (Bank of England) stated. “If the economy continues on this tract it may be appropriate to raise interest rates” This could happen as early as November. The article went on to say that there is a large increase in the amount of consumer borrowing in the following categories 1) Car financing 2) Credit cards 3) Personnel loans Here is the link if you want to read more

Interest only. Will this impact you???

I have read an article about the impact of maturing interest only mortgages and how it will affect aging customers. The FCA estimate that 1.8 million homes in the UK are on Interest Only mortgages and that excludes the Buy to Let market. Many of these do not have a repayment vehicle in place. These mortgages where set up prior to 2008 in most cases and the customers that have this type of mortgage will be coming close to retirement when they mature. The changes in mortgage regulation, as it pertains to customers 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

When your fixed rate mortgage product ends

Now hundreds of thousands of borrowers are reaching the end of fixed-rate mortgage deals each month. In most cases, that means their mortgage payments are set to rise - in some cases by a lot. But you can act to avert these higher costs. The following will explain exactly how fixed-rate mortgage deals work - as well as how to get the lowest possible rate and keep your repayments down. What is a fixed-rate mortgage? If you take out a fixed-rate mortgage, the interest rate on the deal will be locked in place for read more

Newly-built homes will have to last at least 2,000 years if the sluggish rate of house building continues

The LGA, which represents local authorities in England and Wales, said that the failure to build enough homes for decades meant existing properties will have to house more people and last for much longer. This has led to the country spending nearly as much on the repair and maintenance of existing homes as it does building new ones. Cllr Judith Blake, LGA Housing spokesperson, said: “Our country’s failure to build enough homes over the past few decades is putting huge pressure on our existing housing read more