UK Niche Mortgages

With ever increasing levels of competition in the UK mortgage market mortgage dealers are increasingly looking into niche, unconventional mortgages to find a more profitable market. These niche markets are increasingly taking advantage of the difficulty UK first time buyers have in getting a mortgage. New mortgage schemes such as Joint MortgagesInterest Only MortgagesPerpetual mortgages50 …

Co-Buying Mortgages in UK

Want to live together and get on the property ladder? – then Co-Buying may be an option. Co-Buying is when individuals legally group together and buy a property between 2, 3, 4 or more people known as ‘Co-Buyers’. Simple as that! Well it is simple as long as you are happy living with the other …

Dangers of Sub Prime mortgages

In the past week headlines about the US mortgage industry have dominated the news. In particular the number of defaults on mortgage payments is growing very rapidly. These defaults are concentrated on the sub prime sector. These mortgages are aimed at those with bad credit or non-status. Often these mortgages are approved without making any …

Halifax 100% mortgage offer

Many first time buyers struggle to get onto the property ladder because they are unable to save up a deposit. As house prices rise the minimum deposit is at least £10,000 on a £200,000 house. Many lenders such as the Halifax are offering 100% mortgages. The interest rate on 100% mortgages is usually a little …

Green Mortgages in UK

Encouraged by Chancellor Gordon Brown’s “Green Initiative” more banks are promising to offer “Green Mortgages”. These mortgages provide incentives for home owners to take out extra finance in order to reduce the environmental impact of housing. For example the benefits of insulating roof and cavity wall insulation are quite high in terms of reducing energy. …

Increase in UK Bank Charges

Banks are increasing charges through introducing new types of charges. This is response to the investigations of the FSA who are declaring some bank penalties as illegal. For example customers who were charged mortgage exit fees of more than £65 can claim the excess back. However to retain profit margins many banks are introducing new …

Is the UK Property Boom over?

Prospects for UK Housing Market and Buy to Let Sector. For the past 3 years some commentators have been predicting the imminent collapse of UK property prices the Buy to let sector. Because house prices are rising faster than both average earnings and now rents, the economic fundamentals behind the strength of the sector are …

Mortgage Exit Fees Refund

If you remortgaged in the past 5 years it is likely you could benefit from a windfall. The FSA has stated that mortgage lenders must justify any increase in mortgage exit fees. Where there has been overcharging in the past they must pay consumers back. However the responsibility to claim the money back rests with …