Non Status Mortgages UK

Non Status and Sub Prime Mortgages Non status or Sub Prime Mortgages are often known as bad debt or bad credit mortgages. They have been in the news recently because of America’s problems with its sub prime mortgage market. Sub Prime lending means lending to people with bad credit histories. (e.g. those with missing credit …

New Deposit Rules for Tenants

In the past tenants were require to hand over a deposit to a private landlord. However unscrupulous landlords often refused to pay back this deposit. The standard deposit can vary between £600 and upto £2000 in London. On 6 April, the Government will introduce the Tenancy Deposit Protection (TDP) scheme takes effect in England and …

Prospects for Buy to Let UK

In the Short term the buy to let sub market is performing well. Uncertainty over the direction of house prices and interest rates is discouraging more people from buying at the moment. This is increasing demand for alternative renting. Shortage of Supply. Recent studies show there is a chronic undersupply of houses in the UK. …

Top 10 Personal Tax Tips

Tips to help save tax and penalties from Tax 1. Be aware of your Tax Situation. Learn a bit about taxation it may save you money over the years. Don’t put off looking into tax, even if you dislike the ida. 2. ISA Accounts. Interest you receive is generally liable for taxation unless you save …

Top 7 Financial Tips

PERSONAL FINANCE TIPS 1. ‘Neither a borrow nor a lender be’ Or if you must borrow try get a cost effective deal. Start by asking your bank for an overdraft facility before you need it. Overdrafts only cost whilst you are using them but personal loans have interest charges all the time. 2. Make Sure …

American Housing Market

The American Housing market has experienced a significant boom and bust in the past 12 months. US house prices have been rising at a faster rate than incomes and rents for several years. For example the average house price to incomes reached 190% in 2005, compared to 100% in 1952. There are several reasons to …

What is Gazumping?

Gazumping occurs when you have put in an offer to buy a house and at the last moment someone comes on with a higher offer. Legally the owner of the house has the right to change his mind and sell to the highest bidder. However it can be a frustrating business because the process of …

Average UK Mortgage

Traditionally the average UK mortgage was based on a standard variable interest repayment mortgage. In recent years, financially liberalisation, has encouraged a range of non-conventional mortgages. In particular, the UK has witnessed an increase in the following types of mortgages: Interest Only Mortgages. This mortgage is aimed at first time buyers, struggling to meet the …

Sub Prime Mortgages in the UK

The definition of sub prime mortgages is open to interpretation. However, sub prime means that the borrower has at least some degree of bad credit history. Sub prime mortgages are also known as adverse credit mortgages. The quantity of sub prime mortgages has been increasing in the UK. This includes people who have near prime …

Mortgages for Immigrants

The UK is experiencing population growth in the UK, because of rising immigration. Part of the reason is due to the expansion of the European Union into the East. This means workers from Poland, Czech Republic, Bulgaria and Slovakia are now able to move to the UK, to take advantage of higher living standards. However, …

Sub-prime Definition

There has been a lot of talk recently of the sub-prime crisis. However, many are uncertain of what we actually mean by ‘sub-prime’. Sub prime is more common in the US. In the UK, we are more likely to talk about the adverse credit or bad credit mortgage sector. However, the recent interest in the …

Largest Mortgage Lenders in UK

The largest mortgage lenders in the UK, according to the Council of Mortgage Lenders statistics Top 10 Largest Mortgage Lenders HBOS – Mortgage Balances – £220bn – Market Share 20.4% Abbey National – £101bn – 9.4% Lloyds TSB – £95.3 bn – 8.8% Nationwide – £89.6bn – 8,3% Northern Rock – £77.3 – 7.2% Royal …