There 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.

For 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.

Your 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.

With 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.

For 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.

Over 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.

For 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 [...]

Although 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 [...]

There 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.

As 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 [...]

Over 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 [...]

A 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 [...]

The 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.

Over 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 [...]

There 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 [...]

Both 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 [...]

Although 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 [...]

As 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 [...]

Over 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 [...]

According 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 [...]

Secured 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 [...]

If 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 [...]

Trying 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 [...]

Consumers 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 [...]

Anyone 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 [...]

Over 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 [...]

In 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 [...]

One 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 [...]

As 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 [...]

Anyone 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 [...]