Archives for the 'Mortgage' Category
High LTV mortgages ‘may aid debt recovery
Mortgages with a high loan-to-value (LTV) ratio may aid debt recovery, it has been suggested.
For house buyers with no funds to put towards a deposit, mortgages with an LTV of 100 per cent cover the entire purchase price of the property.
Paul Davies of independent advisory service Mortgage Financial suggests the products may offer a […]
Fixed-rate mortgage holders ‘must plan to stay debt free’
While fixed-rate mortgages may offer some respite from recent interest rate increases, borrowers must plan to remain debt free, it has been warned.
The Council of Mortgage Lenders (CML) states that a long-term approach to managing mortgage debt could be as crucial as the original decision of which package to seek.
Research conducted by the CML […]
Irresponsible lenders ‘adding to mortgage debt problem’
Irresponsible lenders are compounding the debt problem for sub-prime mortgage customers, it has been claimed.
The products are typically provided to customers with a debt problem who find difficulty in obtaining a standard mortgage.
However, research from the Financial Services Authority (FSA) shows that many lenders are not carrying out basic affordability checks before providing funds […]
Counting the cost of keeping home
The cost of home upkeep has risen this year, according to latest research.
Data from Sainsbury’s Bank suggests that the annual cost of homeownership is now £11,035, which is about 12 per cent higher than it was in 2004-05.
This is equivalent to the cost of homeownership rising by about £3.28 per day, according to the […]
Record lending in February
Mortgage lending reached record levels last month with a sharp increase in net advances compared to like figures for February 2006 as well as an increase in mortgage approvals.
The Building Societies Association (BSA) reports the strongest February on record for mortgage lending with total approvals reaching £4,917 million during the month, up from £3,646 […]
More payment holidays for struggling consumers
The number of ‘payment holidays’ offered by financial institutions has increased, according to new research.
Payment holidays allow homeowners to have a break from their mortgage repayments for an agreed length of time and are normally offered to customers who have regularly met their schedules.
Research from MoneyExpert.com found that the number of products offering payment holidays […]