Archive for February, 2008
Friday, February 29th, 2008
Before taking out a mortgage it is important to know how much you can and should borrow. With the ratio of house price to incomes at an all time high, it is tempting to borrow to the hilt in order to get a mortgage for the house.
3 Times Salary. The ...
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Thursday, February 28th, 2008
To reduce your Mortage there are various things that you can do.
Firstly to Reduce Mortgage Payments
Extend Mortgage Term - Longer repayment period means lower monthly payments, but higher total cost.
Interest Only - Means you only pay interest payments and not capital repayments. Cheaper monthly repayments. But, need to find an ...
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Wednesday, February 27th, 2008
Unfortunately, many people take out mortgage with hefty early repayment charges. If this is the case there is little that you can do about it. With the high penalties, it is usually best just to see the agreement out. For example, a standard Woolwich mortgage charges 6 months interest at ...
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Wednesday, February 27th, 2008
If you are looking for a good return on your cash savings, these are some of the best current rates of interest by the leading banks and building societies.
Scarborough Building Society 6.3% (guaranteed to be at least 0.25% above base rates until March 31 next year)
Icesave 6.1% (Ice savings website)
Best ...
Posted in savings | 1 Comment »
Wednesday, February 27th, 2008
A useful financial tool is to make use of credit cards and loans which offer introductory rates of 0% for between 6 and 12 months (in some cases upto 15months)
The advantage of using these credit card balance transfers is that you can keep your debt paying no interest. The savings ...
Posted in Uncategorized, credit cards | No Comments »
Monday, February 25th, 2008
These are a few quick suggestions for making sure you get the best mortgage deal and avoid paying unnecessary charges and interest payments
1. Pay off a Mortgage As Quick as you can.
The sooner you can make extra mortgage payments the better off you will be. Here there are a few ...
Posted in mortgages | 2 Comments »
Monday, February 25th, 2008
Many homeowners are looking for a degree of flexibility in their mortgage payments. A good flexible mortgage should have the following features:
Daily Interest Calculation. Interest is calculate daily rather than at the end of the year. This means that as you pay off your mortgage throughout the year, the interest ...
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Tuesday, February 19th, 2008
The amount that you can borrow for a mortgage depends on many factors.
Income Multiple. The simplest guide to mortgage lending is using a simple income multiple. In an era of higher interest rates, the traditional income multiple was 3 times income. Thus on the average UK salary of £30,000 you ...
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Tuesday, February 19th, 2008
With UK House prices predicted to fall or at least stagnate a 100% mortgage has some obvious disadvantages. With no deposit, it means that any fall in house prices will cause the homeowner to end up owning more to the bank than the house is worth. 100% mortgages are usually ...
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Friday, February 15th, 2008
Generally speaking fixed rate mortgages involve significant fees. These can be upto £2,000. However, if you a relatively small mortgage you are better off going for a fixed rate mortgage with low fees and higher interest rate. If you have a very big mortgage then the fees are a smaller ...
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