Is it a good idea to get a Mortgage with the help of your parents? Is it a good idea to help your children get a mortgage? In the UK House Prices have risen much faster than average incomes. This means that, despite rising real wages, young people are finding it increasingly difficult to get [...]
Should I Make Extra Mortgage Payments?
If you have a flexible mortgage, making extra mortgage payments can save you substantial sums – much more than the initial cost. Quite often, people don’t look upon a mortgage as debt and so are in no rush to pay it off. However, it is definitely a type of debt and is constantly accumulating interest. [...]
What can we learn from the US Sub Prime Mortgage Collapse?
Recent problems in the American sub prime mortgage industry are well documented. It is causing a record number of home repossessions and is illustrating the inadequacy of proper checks in this section of the market. What can we learn from the problems in the sub prime market? 1. Never trust a mortgage salesman. What is [...]
Prospects of More mortgage defaults
Recent evidence from the Council of mortgage lenders suggest that mortgage defaults in the UK have increased by 30% since this time last year. There have been 14,000 house repossessions in the first 6 months of the year. This is an average of 77 per day. The main reason for the growth in home repossessions [...]
Increase Links to Your blog: Weekly tasks
Getting more inbound links are essential for any blogger: More inbound links increase your PR, making you more attractive to advertisers. More links improve your search engine rankings, enabling more traffic from Google. Good quality links can be a direct source of traffic in themselves. It is a mistake for a new blogger, just to [...]
Finance Tips for those Leaving College.
On leaving college / University you will probably find yourself in a combined situation of: Large Debt. Paying a high % of income on Rent. Struggling to Get On property ladder. Working hard in a new job. If you have recently left college and entering into the field of work, these are my financial tips [...]
Guide to Getting your First Mortgage
For those in their early 20s, getting their first mortgage is increasingly difficult as house prices continue to rise faster than incomes. Nevertheless their are options for enabling a larger mortgage. Things worth considering include: Borrow a deposit from parents (if this is possible) – a large deposit increases the chance of getting a good [...]
10 Painful but Effective ways to reduce Debt.
Do you really need to pay off your bills and reduce your monthly outgoings? Some cuts in spending are relatively painless, like for example, switching your gas and electricity supplies. But, if you have done all these easy methods, and still need to save money, here a list of other more painful sacrifices. 1. Live [...]
Debt Guidance for the Financially Illiterate.
If you are new to ideas of debt and personal finance, don’t panic. It is not as complicated as it first looks. However, it is worth spending time learning the basic of debt and personal finance; it can save a lot of regrets later on. These suggestions and guidance may hopefully appear common sense; however, [...]
How Much Will my Mortgage Cost?
I created a table here of Mortgage Payments to show how much you can expect to pay on your mortgage loan. It also shows how much the monthly payment is likely to increase by, after a quarter point rise in interest rates. I included the monthly payments for an interest rate of 8%. I doubt [...]
