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Mortgage ‘holidays’ hit 1.9 million

Mortgage ‘holidays’ hit 1.9 million

New figures released by UK Finance show that 1.9 million borrowers have opted to take advantage of the mortgage payment ‘holidays’ since these were first offered three months ago. This means that one out of every six UK mortgages is currently being deferred under this...

London first time buyers daunted by mortgage process

A survey commissioned by Habito, digital mortgage broker, revealed that 65% of people buying their first home in London, were terrified by the mortgage process. The YouGov survey also revealed that London’s first time buyers are the most stressed and confused...

Millions of borrowers would benefit from BoE base rate cut

According to experts, the monthly mortgage payments of around five million borrowers would be reduced by a cut in Bank of England base rate. A reduction in the base rate would also encourage greater competition between lenders offering fixed rate deals. The Monetary...

Mortgage broker warns of true cost of longer term mortgages

Recent research indicates that more first time buyers are taking on mortgages over longer terms, for 35 or even 40 years. A leading mortgage broker has warned that this will cost borrowers tens of thousands of pounds extra in interest costs. Longer term mortgages have...

Car park space on market for double the average UK property price

A car park space has been put on the market for £350,000, almost double the average price of a UK property. The space is located next to Hyde Park in London, at one of the most sought after addresses in the Capital. The space itself measures 19.5ft by 8ft, just large...

Number of mortgage products reaches new high

According to a recently published report, the number of mortgage products available to borrowers has reached the highest level for seven years. The National Mortgage Index, released by the Mortgage Advice Bureau, states that 15,838 products were currently available to...