Many people to be affected by mortgage rate increase

Many people will have been relieved last week to hear from the Bank of England that the base rate was to remain at its all time low of just 0.5% where it has now been for a full three years. For many borrowers with mortgages, this provides yet more breathing space where they can benefit [...]

Offset mortgages explained

The world of mortgages can be confusing for anyone not used to poring over financial terms and with so many different types of home loans it can be difficult to know where to start.
Offset mortgages are not the most common way to borrow money to purchase a property but in the current economic climate, the [...]

Scottish mortgage lending increases in third quarter

According to recent figures, mortgage lending in Scotland increased in the third quarter of this year, rising by 8 percent compared to the previous quarter with 12,400 loans. However, whilst this is encouraging news, lending is still low with the figure for the third quarter coming in at 7.5 percent lower on a year on [...]

Hundreds of thousands of homes in negative equity

According to a recent report by High Street banking giant HSBC, more than 350,000 homeowners are now in negative equity, as the property market continues experiencing turbulence. It is thought that up to 360,000 homeowners who purchased their homes in 2007 are now stuck in their homes to due being in negative equity. Plummeting property [...]

Rental sector struggles with high demand

As most people have seen, the demand for private rental property has soared over the past couple of years, with a rising number of people finding that they are unable to get a mortgage for one reason or another in the ongoing difficult financial climate. This has resulted in more and more people turning to [...]

Mortgage lending improves but property sales stagnate

There has been some mixed news for the property and mortgage markets recently, as figures have shown that whilst mortgage approvals have increased the number of property sales has stagnated. Mortgage lending has been depressed for some time in the UK as a result in increased restrictions from lenders and higher deposit demand, which many [...]

First time buyer age could reach 35

Most people are well aware that the financial and economic climate has been very difficult over the past few years, and his has had a huge impact on the property and mortgage sectors, resulting in some groups finding it increasingly difficult to get a mortgage. First time buyers have been amongst the worst hit when [...]

Mortgage valuations on the rise in May

Whilst the property market may have been bleak for the past few years there have recently been a number of signs to indicate that things could be picking up. One recent report, the Housing Market Activity report released by Connells Survey and Valuation, showed that for the sixth month in a row there had been [...]

Repossessions set to rise again

It has been reported that a leading mortgage industry group is expecting the level of repossessions to increase significantly over the course of this year, with figures having increased already at the start of this year. The Council of Mortgage Lenders has released figures showing that the number of repossessions has increase and has predicted [...]

Banks prefer buy to let borrowers to first time buyers

As any first time buyer will know trying to get a mortgage in the current climate can be very difficult, with banks demanding very good credit, high deposits, and even then being picky about whether or not they are prepared to give out any money. Banks are extremely wary after the financial problems experienced over [...]

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