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
Scrapping of HIPS opens up housing market
May 27, 2010
This week, estate agents, mortgage advisors and many others welcomed the news that the coalition Government has scrapped the controversial HIPS (Home Information Packs).
The packs were suspended on the 21st May last week. HIPS were initially introduced three years ago in 2007, forcing property owners to purchase one before their property could Read more
Mortgage advisors still the first option for borrowers
May 24, 2010
New figures published have shown that CeMAP qualified mortgage advisors remain the first place many borrowers go to when looking for a home loan.
Mortgage advisors remain in the driving seat when it Read more
Government allows FSA to remain
May 21, 2010
Under the new coalition government with the Conservatives and the Liberal Demoncrats it appears that the Financial Services Authority (FSA) is set to survive – for the time being at least.
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CML indicates mortgages may be rationed
May 18, 2010
The Council of Mortgage Lenders has indicated that mortgages may be rationed for many years to come, although their latest figures show a recovery in the market of 25% between March and February.
Although the number of loans made to people buying a house for the first time has recovered faster than those made to people already on the housing ladder, this may Read more
First Quarter Shows Decline In Mortgage Arrears
May 15, 2010
The Council of Mortgage Lenders (CML) has reported that the number of house repossessions and home loans in arrears fell between January and March of this year.
Repossessions have dropped from the preceding quarter’s 10,600 to 9,800 – a reduction of 7.5%. Figures for the same quarter of 2009 show there were 13,200 repossessions. Read more
Price Comparison Websites Targeted By Mortgage Experts
May 12, 2010
Mortgage price comparison websites in the UK have come under fire from mortgage experts.
Obligo.co.uk has reportedly slammed the increasing number of such sites for not providing adequate information when promoting mortgage deals, and has also claimed that customer’s personal details also are being sold on. Read more
Should a first time buyer have to pass a ‘consumer mortgage exam’?
May 9, 2010
Last month, a debt charity called for first time buyers to take a ‘mortgage exam’ before being allowed to apply for a mortgage. Since then, the debate has increased with some stating it is unrealistic and others pointing to a US program that offers something similar. 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.
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