March 12, 2011
More than 20 percent of those over 55 years old are still paying off a mortgage worth on average £65,107 according to recent figures.
The report from Aviva revealed approximately 21 percent of those aged over-55 still have to make monthly mortgage repayments.
Those over the age of 75 have Read more
March 9, 2011
As the Bank of England’s Monetary Policy Committee prepares to meet next week, mortgage lenders and borrowers like are facing the very real issue that the base interest rate may well rise in just a matter of days.
After almost two years of historically low interest rates, the only Read more
March 6, 2011
Since 2008, first time buyers have had it tough. With lenders afraid of borrowers who were defaulting and properties falling into negative equity, the reins have been significantly tightened.
Demanding deposits to the value of Read more
March 3, 2011
According to figures released yesterday, both mortgage lending and house prices are on the rise.
The monthly figures from the UK’s largest building society, Nationwide’s Property Index, showed the average house price is now £161,183, which shows an Read more
February 27, 2011
According to Nationwide research, around 75 percent of homeowners with a mortgage have no plans at all to consider how they will cope when the interest base rate rises, as it inevitably will.
As any mortgage advisor will tell a customer looking to apply for a mortgage, it is important that if they ever find themselves struggling to maintain their household expenses or Read more
February 24, 2011
Following an increase in new mortgage lending last year of 6%, Leeds Building Society has promised it will be increasing its new mortgage lending levels by 30% in 2011.
Last year, the building society increased its retail deposits to a new record level, a move which saw its pre-tax profits rise by approximately one third to an impressive figure of £42.2 million.
The UK’s fifth largest mutual society has announced its Read more
February 21, 2011
According to recent statistics released by the Council of Mortgage Lenders (CML), the average first time buyer now needs approximately one year’s salary to put down as their initial deposit on a property purchase.
In early 2007, the typical FTB deposit was Read more
February 18, 2011
Bridgewater Equity Release has released a report this month showing the results of their study into why people choose to release equity from their homes and how their extra cash is used. 43 per cent said it was to pay off a current mortgage.
Examining their own customers’ sales and additional advances over the course of last year, Bridgewater discovered the top five purposes were Read more
February 15, 2011
Rumours in the media this week say that nationalised bank Northern Rock could be preparing to re-launch its range of mortgage products, including its first high LTV mortgage deal aimed at the first time buyer market since its nationalisation in the credit crunch.
Reportedly, the bank is preparing for a sale or stock Read more
February 12, 2011
This month, Spanish bank Santander has announced its profits for 2010. Despite the fall in gross lending that most UK mortgage lenders have also seen, the bank has grown by 11 percent in comparison with 2009.
One reason for such growth is the acquisitions of other prominent UK lenders, such as Abbey and Alliance & Leicester.
Overall, the figures show that the Read more