Archive for the ‘mortgages’ Category
Thursday, April 3rd, 2008
With a marked drop off in the number of mortgages available, UK consumers have been switching to other means to finance their shortfall. In particular, last month showed an unexpectedly large rise in the number of unsecured loans. It appears consumers are using unsecured loans to meet the shortfall created ...
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Thursday, March 27th, 2008
The recent credit crunch has hit the big mortgage lenders the most. This is because they rely on financing the mortgage lending by borrowing on money markets, which have recently dried up. This means they have had to withdraw products and increase interest rates to reflect the deteriorating market conditions.
With ...
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Friday, March 7th, 2008
HSBC offer a special product for graduates who have finished university in the past 5 years.
To qualify you need to have a Graduate Plus current account. The Graduate mortgage includes:
Borrowing upto 4.5 times income. However, this depends on affordability. If you are making student loan repayments this will count against ...
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Friday, March 7th, 2008
HSBC offer a range of mortgage deals. If you want to remortgage to the HSBC they will lend you 90% of your home value, requiring a 10 % deposit. For graduates buying their own home, HSBC will lend 95% of the value. Their remortgage deals include:
A mixture of capital repayment ...
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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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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 ...
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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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