With house prices having increased over the latter part of this year many people may be considering selling their homes next year, and with interest from buyers on the increase the New Year could prove to be a good time to sell. (more…)
Archive for the ‘Featured Articles’ Category
Are you thinking of selling your home?
Thursday, February 18th, 2010
Could shared ownership be the answer to your property dreams?
Saturday, December 19th, 2009For many would be first time buyers the dream of homeownership has never been quite within reach. For many years the price of property in the UK was so high that most first time buyers did not have the income to get the mortgage that they needed, despite the fact that many lenders were increasing income multiples to as high as six or seven times the income. (more…)
Experts give opinions on FSA mortgage lending regulation changes
Tuesday, December 15th, 2009The mortgage markets have been turbulent to say the least over the past couple of years, and many of the problems that have almost brought the financial sector to its knees have been blamed on irresponsible mortgage lenders over the past decade, where high income multiples, extended repayment periods, lending to those with bad credit, jumbo mortgages, and high risk lending was all part and parcel of the mortgage lending sector. (more…)
Can house price revival be sustained?
Wednesday, October 14th, 2009Recent speculation about green shoots in the UK economy has been further fuelled over recent months because house prices have seen a small yet sudden revival after over eighteen months of falls. (more…)
Why You May be Turned Down for a Loan
Thursday, October 1st, 2009It is not surprising to hear of many customers being turned down when they apply for a loan from one of the many UK lenders in these times of economic uncertainty. (more…)
Avoiding insolvency in the current difficult climate
Monday, August 24th, 2009There is no doubt that over the past couple of years, since the onset of the global financial crisis, many families have been driven to financial ruin, and matters have been made even worse over the past year, with many families being hit with redundancy following the onset of the recession. (more…)
Brighthouse In The Headlines
Thursday, July 9th, 2009It has been well noted recently that one of the healthiest areas of lending is ‘buy now pay later’ finance available on the high street. People taking advantage of low or no interest deals are shopping prudently are making their cash go further by spreading the cost of high-value essentials such as sofas and white goods over a period of months. With the downturn in high-street spending, it seems that every retailer is getting in on the act and offering tempting finance deals. (more…)
A Glossary of Home Buying Costs
Thursday, June 11th, 2009There is more to buying a home than simply borrowing the money from a lender and making the monthly payments for the length of the term. It usually takes a month to close the deal after you agree to the selling price and have approval for the mortgage. (more…)
Good News from Lenders for First Time Home Buyers
Wednesday, May 20th, 2009For the first time in many months, lenders are starting to compete for the business of first time home buyers. Just yesterday, Halifax announced a plan in which it would pay the stamp duty for first time home buyers. (more…)
Boosting your credit rating to improve your financial future
Thursday, April 30th, 2009Your credit rating has always played an important part in the type of financial future you can expect to have, but in the current financial climate, when lending has become so restricted, getting your credit back on track has never been so important. (more…)
Getting the Best Price for Your Home in a Buyer’s Market
Thursday, April 2nd, 2009With so many homes for sale at reduced prices because of the current recession in the real estate industry, it is truly a buyer’s market. This means that in order to sell your home you must have the home priced competitively to attract interest leading to a sale. (more…)
Are house prices in the UK going to continue falling?
Monday, March 23rd, 2009For homeowners the ten years leading up to the third quarter of 2007 were very fruitful in terms if finances, the main reason being that house prices rocketed, and those that were lucky enough to own a property saw the value of their home soar and the equity in their properties shoot sky-high. (more…)
Beware of adverts that offer to clear your debts
Friday, March 20th, 2009Over the past couple of years we have all become used to seeing a variety of advertisement from debt companies that offer to take control of our finances and debts, clear our debts within a relatively short space of time, and leave us debt free with no hassles or problems from creditors. (more…)
Lower Bank Rates to Stimulate the Economy
Thursday, March 19th, 2009For the first time in history, the bank rate charged by the Bank of England stands at 0.5%, the sixth straight cut to the rate in an effort to revive the sagging economy. Another policy introduced by the bank is that of quantitative easing, which means the bank will place more money in the system to the tune of £75 billion. (more…)
Have you managed to streamline your New Year debt?
Saturday, March 7th, 2009Although it may seem that Christmas is long gone, it has actually only been a couple of months since the festive season and New Year, and sadly many people are still reeling from the financial repercussions of the period, having spent far more than they intended to, and often having put the cost of the season on their credit card or used some other form of borrowing to pay for it. (more…)
Take Advantage of the Cheaper Mortgage Deals
Saturday, February 28th, 2009There has never been a better time to start shopping around for the most affordable mortgage deal with the new lower interest rates announced by the Bank of England. (more…)
Are you thinking of buying a repossessed property at auction?
Thursday, January 8th, 2009As most people are aware the housing market is going through a lot of turmoil at present, as it has been for some months. Many homeowners are unable to keep up with mortgage repayments due to financial difficulties and this has led to a rise in repossessions. And whilst house prices have been falling many would be buyers cannot get the finance that they need to take out a mortgage because of the tighter credit conditions that have come into play over the past year due to the global credit crunch. (more…)
Are those with bad credit being targeted by high interest lenders?
Tuesday, December 30th, 2008Over the past decade having damaged credit did create problems for those that were looking to take out finance. However, in the days of easy credit even those with damaged credit were able to get finance at a relatively affordable rate. However, these days are now gone and now those with bad credit will find it very difficult or even impossible to get the finance that they need. This situation, coupled with the various living cost hikes that households have had to cope with, has made things very difficult for those that do not have good credit. (more…)
Can an interest only mortgage ease your finances?
Wednesday, December 17th, 2008A recent article has suggested that struggling homeowners who are finding it difficult to make ends meet each month could benefit from opting for an interest only mortgage in order to reduce monthly repayments. It also suggests that those getting onto the property ladder for the first time could keep their monthly costs down to start with by opting for this type of mortgage over a repayment mortgage. However, consumers looking at interest only mortgages or any other types of mortgages for that matter need to ensure that they have all the facts before making any decision. (more…)
CML stands up for mortgage lenders
Tuesday, December 16th, 2008The Council of Mortgage Lenders has recently spoken out to defend its member banks, after some banks were criticised for failing to pass on base rate cuts and were accused of making a profit. The CML insists that its member banks are actually profiteering, and recently released a statement to this effect. (more…)
The gap widens between buyers and sellers
Thursday, October 16th, 2008Over the years an understanding has developed between sellers and buyers when it comes to the property market. Buyers are well aware that sellers will pull out all the stops to try and get the asking price on a property, and that many would put their property up at a slightly higher price so that they could account for any drop in the asking price. Sellers, also, have always expected buyers to haggle when it comes to the amount that they offer for the property. (more…)
Is it time to scrap HIPs?
Tuesday, October 7th, 2008There is no doubt that when legislation relating to Home Information Packs was brought in the year before last there was a great deal of controversy and dissatisfaction amongst both homeowners and various industry groups, such as estate agents. Officials from the Labour government have been insisting that these packs are a good idea, and that they will make the house selling process far faster. However, whilst Labour officials continue to defend these HIPs officials from other parties are insistent that they need to be scrapped. (more…)
How are buy to let investors being affected by the global credit crunch and falling house prices?
Monday, September 29th, 2008Both consumers and lenders have been adversely affected by the global credit crunch since it swept across the nation last summer. Lenders have found it increasingly difficult and expensive to secure finance on the wholesale money markets to fund their mortgage lending activities, and as such have had to slash the number of mortgage products available by two thirds in the space of a year, increase interest rates on mortgages, hike up arrangement fees on mortgages, raise deposit levels on mortgage loans, and restrict access to many mortgage products. (more…)
Will the stamp duty suspension benefit you?
Monday, September 22nd, 2008Although house prices have been falling for almost a year in the UK many consumers are still unable to afford to purchase a home due to a variety of factors. Mortgages are in short supply at present, which is creating a problem. And whilst lenders have been cutting their interest rates recently the costs associated with mortgages, such as arrangement fees and deposit levels, are still very high, which is affecting affordability for many. On top of this lenders still have very tight lending criteria in place as a result of the effects of the global credit crunch, which has made it difficult for many to get their hands on an affordable mortgage. (more…)
Could try and buy housing work?
Monday, September 15th, 2008As a nation we Brits love to try things before we invest our hard earned cash in a purchase. When we purchase a new car we take it for a test drive to see whether it is suitable for our needs, when we buy new equipment such as a computer we ask for a demo so that we can see if it meets our requirements, and we even like to sample food and drink before we are prepared to take the plunge. Why is it then that with the largest investment of all – purchasing a property – all we manage to get is a quick look around the property before we have to decide whether or not we want to invest tens or even hundreds of thousands of pounds? (more…)
Experts comment on inflation and interest rates
Friday, September 5th, 2008Over recent months we have heard a lot about both soaring inflation levels and falling interest rates. Between August 2006 and July 2007 the nation saw interest rates rise five times, each time by 0.25%, taking the base rate up to 5.75%. However, between December of last year and April of this year the base rate was cut three times, again by 0.25% each time. This resulted in the base rate falling to 5% by April. However, since that time the base rate has remained at 5%, and growing concerns over the soaring level of inflation means that further base rate cuts could be off the card for the foreseeable future. (more…)
A difficult twelve months lie ahead
Thursday, August 28th, 2008According to a recent report consumers in the UK have a very challenging twelve months ahead of them, and the nation has been warned to prepare itself for a drop in living standards over the coming twelve months. The warning comes from the new deputy governor of the Bank of England, Charlie Bean, who said that rising oil and fuel prices were adding to the strain that households were facing in terms of their finances. (more…)
Secured loans – the risks and benefits
Wednesday, August 20th, 2008Secured loans have become increasingly popular over the years, and with property prices in the UK having soared over the past decade many people have turned to secured loans for their finance needs, using the rising equity in their homes to give them increased financial leverage and the chance to obtain affordable finance. Whilst property prices have been falling over recent months industry officials are quick to point out that property prices are still way higher than they were two, three, and even five years ago, and this means that many homeowners may still have considerable equity levels in their homes, and so may find that a secured loan is their most suitable option. (more…)
Five things to look for when getting a loan
Saturday, August 16th, 2008If you are looking to take out a loan, whether secured or unsecured, it is important to do your homework and research the market thoroughly, particularly given the current financial climate, where the cost of borrowing has been rising despite the recent base rate cuts. The global credit crunch has made it all the more important for borrowers to make sure that they browse and compare different loans, as otherwise you could find yourself lumbered with a costly loan with high interest payments and unmanageable monthly repayments. (more…)
Finding the right mortgage
Saturday, August 9th, 2008Trying to find a suitable and affordable mortgage can be very stressful at the best of times, but over recent months this issue has become increasingly difficult and time consuming as well as increasingly demanding. The global credit crunch that swept across the UK last summer has really taken its toll on the nation’s financial markets, and continues to do so. One of the hardest hit sectors has been the mortgage sector, and over recent months consumers have seen the number of mortgage products plummet, which means that there is very little choice for many consumers. (more…)
Consumers warned to be aware of the rising cost of home improvements
Tuesday, August 5th, 2008Consumers across the UK are being urged to bear in mind that the cost of building work and home improvements has rocketed over the past couple of years, which means that those planning to carry out home improvements rather than move house in the current climate may find that the whole process if far more expensive than they originally thought. Many people may have decided to carry out home improvements rather than move given the fact that house prices are falling and properties sales have slumped. (more…)
The importance of seeking mortgage advice
Monday, June 2nd, 2008Anyone that is not now aware of the chaos that has engulfed the mortgage lending sector in the UK must have been asleep for the past six months. Since the onset of the global credit crunch last summer the UK’s mortgage lending sector has gone from bad to worse, with the effects of the global credit crunch having a profound effect on mortgage lending throughout the nation. (more…)
Gazundering becoming a common practice
Wednesday, May 28th, 2008Over recent years with the property boom in full swing in the UK many of us have come across the expression gazumping, as potential buyers battled it out to get their hands on a property, trying to outbid one another as the seller rubbed his or her hands together in glee. However, with the downturn of the property market and the bursting of the housing bubble has come the practice of gazundering, where would be buyers are dropping their offer price at the last minute leaving worries sellers in a real predicament. (more…)
How hard will it be to get an adverse credit loan?
Tuesday, May 27th, 2008In the past getting an adverse credit loan could be difficult, and many people with damaged credit found it difficult to get some forms of finance. However, although many lenders would not consider lending to those with damaged credit in the past, and many others charged extortionate rates of interest on loans for those with damaged credit, it was usually possible to get some form of finance even with an adverse credit rating. Getting finance in the UK over recent years has been a pretty relaxed process, and the ease of getting credit has probably been a major contributory factor in the growth of the nation’s huge personal debt mountain. (more…)
Should brokers have access to all mortgage deals?
Wednesday, May 21st, 2008One of the traditional ways of finding a suitable mortgage for many people in the UK over recent years has been to go through a broker. Many people who were keen to find the most competitive deal tended to avoid gong from one lender to another in order to browse and compare deals, and get a broker to do the legwork for them, which often saved them time and money. However, in the dark days of the global credit crunch there are many consumers that may find themselves missing out if they go through a broker, and this is something that the mortgage broker industry is not happy about. (more…)
Finding an affordable loan
Thursday, May 15th, 2008As many people have already discovered getting any sort of finance these days has become far more difficult and far more expensive. The global credit crunch has really taken its toll since last summer, and consumers have had to bear the brunt of the difficulties that have come from the crunch. The cost of borrowing in all sectors, such as mortgages, loans, and credit cards, has gone up, and this has had a serious effect on consumer affordability and spending, which has had a knock on effect on the economy. (more…)
Make the most of the Internet for your finance needs
Wednesday, May 14th, 2008Anyone that needs to find suitable finance or credit can enjoy a number of options when it comes to finding the right finance package or financial product. Whilst it is certainly true that the number of different financial products, and access to these financial products, has decreased over recent months as a result of the global credit crunch there are still a number of finance options available for those looking for credit. There are a number of ways in which you can find out about the different options on offer when it comes to getting finance. (more…)
Tap into your home equity
Friday, April 11th, 2008Most homeowners have become increasingly aware of just what a valuable asset their home is over the past few years. Over recent years property prices in the UK have rocketed, and those that have owned their homes for some time have found that the value of the home has shot up compared to when they bought the property, leaving them sitting on a tidy sum of equity that is tied into the home. Equity levels have increased significantly for many homeowners across the UK over recent years, and because of this many have realised that their home could be the ideal asset against which to borrow money for a range of purposes. (more…)
Taking financial advice about mortgages
Wednesday, April 2nd, 2008Taking on a mortgage is a very important commitment, and for most people a mortgage is one of the larges financial commitments that they will ever make. When you are taking out such a large loan it is vital that you make sure that you choose the right product, but this is not necessarily an easy task given the wide range of different mortgage products that are on the market, such as tracker mortgages, 100% mortgages, fixed rate mortgages, discount mortgages, and more. (more…)
The Benefits Of Unsecured Loans
Wednesday, March 26th, 2008An unsecured loan is a loan that is based on trust and contract, and unlike a secured loan this type of loan is not secured against any asset. In order to be eligible for an unsecured loan you will usually need to have a good credit rating, as the non-secured nature of the loan makes it too high a risk for most lenders to consider bad credit customers. However, there are some lenders in the UK that offer unsecured loans to those with damaged credit, but at a high price in most cases. (more…)
Securing A Loan Against Your Home
Wednesday, March 12th, 2008If you are a homeowner in the UK and you are looking to raise finance for one of a wide range of purposes you may be able to enjoy great value borrowing by securing a loan against your home. Your ability to get a secured loan will depend upon the market value of your property and the amount that is still outstanding on your mortgage. Other loans that may already be secured on your property will also affect your ability to take out a secured loan. (more…)
Does it make sense to consolidate?
Tuesday, March 11th, 2008Consolidation of debts is a term that many of us have become increasingly familiar with over recent years, with many of us turning to consolidation in order to try and eliminate higher interest debts. If you are able to get your hands on a low rate consolidation loan with cheap repayments you could really feel the benefits of consolidation, but this is not necessarily a solution that is right for everyone in debt. (more…)
Options That Can Help Clear Your Debts
Sunday, March 9th, 2008These days, with the level of consumer debt in the UK at record highs, many people find themselves suffering from debt problems, and once these problems start they can quickly spiral out of control. Often, it is people with a number of high interest debts such as credit cards, store cards, and high interest loans, that find themselves experiencing problems when it comes to repayments, and with interest rates still high coupled with food, energy, and petrol costs on the rise, the financial outlook for those in debt can be very bleak. (more…)
Will IVAs become more transparent?
Saturday, March 8th, 2008In the past many consumers had no idea what an IVA was, but awareness has been raised over the past couple of years following a series of glossy advertisements run by a number of debt management agencies. An IVA, or Individual Voluntary Arrangement, is a legally binding agreement between a borrower and his or her creditors with regards to the repayment of debts. The aim of an IVA is to get the borrower out of debt more quickly, increase short term affordability for the borrower, and enable creditors to recoup some of what is owed to them. (more…)
Tips to get onto the property ladder
Wednesday, March 5th, 2008Over recent years the prospect of being able to get onto the property ladder has become a very bleak one for many people, with rising property prices, rising interest rates, and rising living costs all adding to the financial strain experienced by consumers. In addition to this the global credit crunch has resulted in tighter lending conditions, which has made it increasingly difficult for many people to raise the money that they need to get onto the property ladder. (more…)
Avoiding risks with an unsecured personal loan
Monday, March 3rd, 2008Finding the right loan these days isn’t always difficult because there are so many different loan products available to suit a wide range of needs and circumstances. However, it is important to bear in mind the importance of choosing the right loan product. It is all too easy to rush into taking out finance without really thinking about whether the loan product is the right one for you, but taking on a loan is an important financial commitment and should be given careful consideration before you make any commitment. (more…)
Loans For Bad Credit Applicants
Sunday, March 2nd, 2008With the high level of consumer debt in the UK, and the rising costs experienced by most households, it is little wonder that an increasing number of us are finding that our credit history and rating has been affected. Having bad credit is nothing unusual these days, but it is, of course, important to try and avoid bad credit, as it can have a profound impact on your financial future. If you have bad credit you could find it increasingly difficult to get finance in the future. However, that said, there are now a number of lenders that are able to specialise in offering finance to those with bad credit. (more…)
Requirements For An Unsecured Loan
Sunday, March 2nd, 2008Unsecured loans are loans that are available from a wide range of lenders, from High Street banks and building societies to Internet only lenders. As the name suggest an unsecured loan is not secured against any asset, and is based only on trust and contract. An unsecured loan is available to both homeowners and non-homeowners, unlike secured loans, which are only available to those that own their own home. In order to get an unsecured loan you need to meet the lender’s eligibility requirements, and therefore you should make sure that you familiarise yourself with the criteria for each individual lender before you make your application. (more…)
Is A Secured Loan The Right Choice?
Sunday, March 2nd, 2008Secured loans are loans that are aimed at homeowners with some level of equity in their homes. Equity is the difference between the market value of your property and the amount that you owe on the property by way of mortgage or other secured loans. Unlike an unsecured loan these loans are secured against the home, and this why you need to be a homeowner in order to be eligible for a secured loan. There are a number of lenders that are able to offer this type of loan, and you need to compare a range of loans from a number of lenders to ensure that you get the best deal possible on your borrowing. (more…)
Repayment and Interest Only Mortgages
Friday, February 29th, 2008Consumers these days can benefit from a choice of mortgage products, such as fixed rate mortgages, discount mortgages, the tracker mortgage, and more. There are two main categories under which all of these mortgages lie, and these categories are repayment mortgages and interest only mortgages. There are a number of differences between these two different types of mortgages, and it is important for anyone that is looking to take out a mortgage to consider the pros and cons of each type of mortgage before making any decision. (more…)
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