Manchester United owners struggle with nine US mortgages
August 27, 2010
According to a report in The Times, four of the US shopping malls have fallen behind on payments and are now classed as ‘delinquent’ bringing the total number of the Glazers’ insolvent shopping malls to nine.
With Manchester United’s debts totalling Read more
Fixed or variable rate? Barclays new ‘drop-lock’ mortgage facility offers both
August 9, 2010
Barclays’ new ‘drop-lock’ mortgage facility may help those struggling to choose between fixed and variable rate mortgage deals.
When it comes to taking out a mortgage, the decision between a variable rate mortgage and a fixed deal can be a tough one. Variable rates are attractive because they allow the borrower to take advantage of low interest rates, but fixed rates provide security in the event of rate hikes.
Barclays’ new ‘drop-lock’ option has Read more
What will happen to the interest base rate this year?
August 6, 2010
Every month the Bank of England’s Monetary Policy Committee (MPC) meets to decide how to move the interest base rate. Each month, that decision could impact on millions of homeowners with mortgages on a variable rate. If the base rate increases, then their monthly mortgage repayments will also increase.
Our recent article talked Read more
Northern Rock’s bad bank in profit, good bank in loss
August 3, 2010
It has been three years since Northern Rock was bailed out by the taxpayer and nationalised. Since then, the bank was split into two banks and the latest figures show that the ‘bad bank’ has already moved into profit whilst the so-called ‘good bank’ continues to make heavy losses.
The ‘good’ bank is Read more
Do you pass our financial stress test?
July 31, 2010
This week, the media reported how the banks of Britain passed a financial test this week as industry regulators agreed they were in a position to withstand future economical shocks. However, when looking at the finances of many of their customers, many experts believe many UK households are at the breaking point already and could not cope with unforeseen events.
According to the Yorkshire Building Society over a third of survey respondents said they would only have enough money to last 11 days if they were out of work.
This sort of statistic is rather worrying, and considering how much mortgages have featured in the news over the last couple of years we thought we’d put together our own mini financial test, so see how you fare: Read more
Number seeking mortgage advice up by a quarter
July 27, 2010
According to website Unbiased, the consumer numbers for those seeking advice when finding a mortgage rose by just under a quarter (24 percent) during the first six months of 2010 when compared to the same time period of last year. Read more
Northern Rock reduces residential and buy-to-let mortgage interest rates
July 24, 2010
Today, Northern Rock has made a number of changes to its buy-to-let and Everyday residential mortgage deals, by reducing its interest rates for longer term deals and reducing its buy-to-let product charges.
The Everyday range of mortgages gives customers a Read more
UK mortgage market experiences seasonal boost
July 21, 2010
The Council of Mortgage Lenders have announced that £13.1billion was advanced to borrowers throughout the month of June in the UK, an increase of 15 per cent on May, which is the greatest figure since December 2009.
However, this good news was Read more
UK borrowers increase equity in homes by £38.3 billion in two years
July 18, 2010
According to figures released by the Bank of England, in the last two years UK homeowners have increased their equity stakes in their properties by a whopping £38.3 billion.
£3.2 billion of this was Read more
FSA proposes new mortgage affordability rules
July 15, 2010
The Financial Services Authority (FSA) has proposed a number of measures in a move to reduce excessive mortgage lending levels however, in The Telegraph yesterday mortgage advisors warned these proposals could mean some borrowers will struggle to find a competitive mortgage deal.
Those expected to be worst Read more
