2011 has been a very tough year for those involved with housing, property and finance. The only saving grace has been the exceptionally low rates of interest available. If you didn’t have a mortgage or loan, then getting one was likely to be problematic despite the wishful thinking of the government and their weak initiatives [...]
Why are House Prices so Expensive in the UK?
When my great grandma bought a house in 1911, the price of the house was £600. This was pretty much what it would have cost to build from scratch. Today the average house price in the UK is closer to £200,000. Why are house prices so expensive? 1. Demand is greater than Supply. A very [...]
Historical Interest Rates
Readers Question: How can I find data on Historical interest rates nominal and real Graph of Interest rates since 1979 – 2011 Base Rates and Commercial Rates This graph shows how commercial banks do not necessarily follow the base rate changes. The very low interest rates of 2009, gave many commercial banks an opportunity [...]
Home Bridging Loans and Finance
What is Bridging Finance As the name implies a bridging loan is one made to ‘tide you over’ until a certain event is complete. It bridges one set of circumstances with another. It is most common when a property is being bought and another one sold and the completion dates are not the same. This [...]
Government Backed 95% Mortgages
The government have unveiled a new policy to give first time buyers a greater chance of buying a new house. The new 95% mortgages will be backed by the taxpayer and will help first time buyers struggling to raise a deposit to buy a new home. It is estimated the scheme could help 100,000 potential [...]
Mortgage Arrears Borrower and Lender Perspectives
The squeeze on borrowers and longer term arrears continues to harden. The Borrowers Position on Arrears and the lenders perspectives have not changed significantly and it seems to be an issue of confidence that is holding everyone in the housing market back at the moment. Time and a few good results will put that too [...]
Help with the Saving Habit
Do you think you need some help with starting to save? Do you want to establish a thrifty habit that will grow your savings to reach a particular goal? Then we may have some tips and assistance for you to consider in the sections below. Early Savings Habits Children learn thrifty habits if they get [...]
Finding the Cheapest Insurance Quotes
Tips for Getting Cheapest Insurance Quotes Don’t assume your current provider will be the cheapest for next year, always check a variety of providers once a year. A few weeks before your term ends check on an insurance comparison site for the best quote. The time taken to search a new deal will nearly always [...]
Help for Middle Britain by Mortgage Interest Tax Relief
Housing market UK has an economic angle for George Osborne to consider. Reintroduce the scheme of mortgage interest tax relief. This scheme was prevalent until 2000 when it was abolished but not before it had helped many on to the property ladder and towards achieving independence with their housing. Benefits of Mortgage Interest Tax Relief [...]
Do Not Panic If You Are In Debt
Debt can be very worrying and lead to health problems. You can get out of the fix no matter how bad you think the debt problem seems to be and below are a few ideas. The first steps are not to panic and not to ignore the problem. Avoiding Panic not Avoiding The Problem Gather [...]
