According to industry officials there could be serious problems ahead for many middle class families who took out interest only mortgages, with many facing the prospect of being unable to move for many years to come due to plummeting property prices and negative equity. (more…)
Posts Tagged ‘interest only mortgages’
Many middle class households may suffer due to interest only mortgages
Wednesday, September 16th, 2009
Keeping Your Mortgage Payments Up to Date
Friday, June 12th, 2009With interest rates starting to rise, many homeowners have gotten used to low monthly payments on their mortgage. (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…)
Interest rate cut becomes more likely due to tighter lending conditions
Wednesday, April 16th, 2008The governor of the Bank of England, Mervyn King, has indicated that an April interest rate cut has become more likely as a result of the tighter credit conditions that are in place in the UK – news that will be welcomed by struggling homeowners that need to cut back on their outgoings. The governor was asked by the Treasury Select Committee whether an April cut was more likely due to current credit conditions, and he replied that it was. (more…)
Disaster could lie ahead for those on interest only mortgages
Saturday, April 12th, 2008All mortgages in the UK come under two main categories, which are repayment mortgages, also known as capital and interest mortgages, and interest only mortgages. With repayment mortgage the monthly repayment made by the borrower is applied to both the loan and the interest on the loan, which means that at the end of the mortgage term the mortgage should be paid off in full. (more…)
Choosing The Right Mortgage
Friday, March 16th, 2007The market is flooded with different types of mortgages, but how do you know which one is right for you? The decision has to be yours, whether you take advice from an Independent Financial Advisor or do your own research. (more…)
More from Featured Articles category
Ads and sponsors