15 percent of mortgage holders unaware of own mortgage details
July 9, 2010
According to a recent report, around 75% of mortgage holders are unaware of by how an increase in interest rate of 1 percent would affect them.
The survey also found that worryingly, some people Read more
Joint tenants or tenants in common?
June 21, 2010
A story in The Observer this weekend highlights the importance of using a good mortgage advisor when you purchase a property.
Patricia Jones and her partner Leonard Kernott bought a semi-detached together in 1985. Jones paid the deposit and her boyfriend didn’t contribute to her mortgage. Kernott moved out 17 years ago and has since purchased his own property. Yet an appeals court has ruled that Kernott is entitled to 50% of the value of the house because they bought as ‘joint tenants’.
Many couples owning Read more
Japanese plant in garden prevents remortgage
May 28, 2010
A bank has refused an application for a remortgage because a Japanese Knotweed plant was discovered in the homeowner’s garden.
David Williams applied to borrow £83,000 on a remortgage of his property but the surveyor said that the building is ‘unsalesable’ thanks to the knotweed. Read more
Beat your cash ISA with an offset mortgage
May 6, 2010
Mortgage provider First Direct has released figures this month stating that many would benefit more from putting their savings against an offset mortgage than they would by saving in a cash ISA.
With an offset mortgage, a savings account is linked to the mortgage account. When borrowers place money in that savings account, this reduces the level of debt on their home loan and reduces the interest payable on the mortgage. Read more
Looking for part time CeMAP courses
May 3, 2010
When somebody decides that they want to take a CeMAP course, unless they already work in a related role and the employer is willing to give a person time off work to take the course, many do not want to take time off work for a full time CeMAP course.
Read more
By how much can I overpay my mortgage?
March 18, 2010
Thanks to record low interest rates, there has been much talk in the media recently about whether or not homeowners should be overpaying their mortgage.
In many cases, overpaying your mortgage might be a good idea but in some cases it may not – for instance if you have not got a savings pot in case of emergencies or if you can get a better interest rate by putting your money in the bank. Read more
What to do if your mortgage deal is coming to an end
March 15, 2010
When you take out a mortgage, you and your mortgage advisor will sit down and go through your finances to work out how much you can afford and to help you find the best mortgage deal for your circumstances.
All mortgage lenders have a standard variable rate (SVR), but to attract new borrowers and those remortgaging they offer mortgage deals. There are many types of mortgage deals, including variable rate, fixed rate, discounted, capped and more. Read more
How to find the perfect CeMAP training course
March 9, 2010
When it comes to finding a CeMAP training course provider, there are a few pointers that separate the good, the bad and the ugly. Here are a few things to watch out for and ensure you get from your training provider: Read more
Do you know your mortgage interest rate?
March 6, 2010
According to a recent survey, one in four homeowners do not know what their mortgage interest rate is, and that could mean they are paying more than they need to on their mortgage repayments.
Most homeowners know that the Bank of England base rate is low – even if they don’t know what it is. Currently, it is 0.5 per cent and has been for the last twelve months; that’s a record low. Read more
Spread the cost of CeMAP courses
February 26, 2010
When you make a large purchase, particularly when times are a little tough, it helps if you can spread the cost over a period of time. In an ideal world, it would help if the cost could be spread on an interest free basis too.
To train as a mortgage advisor, you need the CeMAP qualification and unless you are lucky enough to already be in employment where your employer is willing – and has the cash ready and waiting – to pay for you to go through your training, the cost can be prohibitive. Read more
