The UK's independent property help portal
December 17, 2012

Deposits continue to thwart first-time buyers

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by Gill Montia

Deposits continue to thwart first-time buyers
More than one in four potential first-time buyers say it will take them ten years or more to raise a deposit, while just over a quarter are hopeful of accumulating enough cash to secure their first home in three years or ...

December 10, 2012

Sub-prime mortgage lender ordered to pay redress

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by Gill Montia

Sub-prime mortgage lender ordered to pay redress
The Financial Services Authority (FSA) has fined Cheadle-based mortgage lender, Cheshire Mortgage Corporation (CMC), £1.225 million for failing to treat customers fairly in the sale of mortgages and arrears handling, between October 2004 to the end of 2009. The regulator is ...

November 27, 2012

UK pensioner property assets total £756bn

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by Gill Montia

UK pensioner property assets total £756bn
Britain's retired homeowners have total mortgage-free property wealth of around £756 billion, new research from Key Retirement Solutions claims. However, according to the equity release specialist, across the country homeowners aged 65-plus have lost a total of £368.9 million in the past ...

November 21, 2012

Barclays slashes buy-to-let fixed rates

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by Gill Montia

Barclays slashes buy-to-let fixed rates
Barclays is cutting rates on its range of buy-to-let fixed-rate mortgages by up to 1.1% from today. The new two-year deals include a rate of 4.19%, reduced from 5.29%, for those with a deposit of 25%. For those with a 40% deposit, the ...

November 15, 2012

Buying a house a bigger commitment than marriage

Permalink: Buying a house a bigger commitment than marriage
by Gill Montia

Buying a house a bigger commitment than marriage
Over a quarter of 25 to 34-year-olds in the UK believe that buying a house with someone is a bigger commitment than getting married, according to Halifax’s latest State of the Nation mortgages report. The study also highlights a difference ...

November 14, 2012

FSA warning on investment in overseas eco development

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by Gill Montia

FSA warning on investment in overseas eco development
The Financial Services Authority (FSA) says it is concerned that some homeowners are being urged to take out a mortgage secured against their UK property to fund an investment in an overseas development. The regulator has received reports that people ...

November 12, 2012

Potential first-time buyers look to shared ownership

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by Gill Montia

Potential first-time buyers look to shared ownership
Nearly a half of today's potential first-time buyers are considering turning to shared equity and shared ownership schemes, according to latest research from Lloyds TSB, with one in four respondents saying affordable housing is their only option when it comes ...

November 9, 2012

Repossessions continue to fall

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by Gill Montia

Repossessions continue to fall
Repossessions fell again in the third quarter of 2012, according to the Council of Mortgage Lenders (CML). A total of 8,200 properties were possessed by lenders in the three months to end-September, down from 8,500 in the previous quarter and 9,600 in the same ...

November 8, 2012

House prices won’t return to their 2007 peak until 2019

Permalink: House prices won’t return to their 2007 peak until 2019
by Gill Montia

House prices won't return to their 2007 peak until 2019
UK house prices won't return to their 2007 peak levels until 2019, according to Knight Frank. Worse still, once inflation is stripped out, average UK house prices are unlikely to hit 2007 levels in real terms until 2031. In ...

November 5, 2012

Hodge launches drawdown lifetime mortgage

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by Gill Montia

Hodge launches drawdown lifetime mortgage
Hodge Lifetime has launched a lifetime mortgage with the option to withdraw additional funds after completion of the loan, with the minimum amount set at just £1,000. Borrowers can also repay 10% of the original loan plus 10% of further withdrawals made each ...


Paragon launches new buy-to-let mortgages

Permalink: Paragon launches new buy-to-let mortgages
by Gill Montia

Paragon launches new buy-to-let mortgages
Paragon has launched a raft of new buy-to-let mortgages for professional and smaller-scale landlords. The loans include fixed and tracker rates offered under both the Paragon Mortgages and Mortgage Trust brands. Eighteen are targeted at professional landlords (12 trackers and six re-priced fixed rate ...

October 31, 2012

Fall in negative equity households

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by Gill Montia

Fall in negative equity households
The number of UK households in negative equity has fallen over the last 18 months, according to the Council of Mortgage Lenders (CML). New figures from the lenders' body show that: 1. The amount of unmortgaged housing equity held by borrowers remains ...

October 25, 2012

FSA: new rules for mortgage borrowers

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by Gill Montia

FSA: new rules for mortgage borrowers
The Financial Services Authority (FSA) has set out new rules aimed at putting "common sense" at the heart of the UK mortgage market and making sure future borrowers don't end up with home loans they can't afford. The new rules come into ...

October 23, 2012

A quarter of mortgage borrowers in fear of repossession

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by Gill Montia

A quarter of mortgage borrowers in fear of repossession
Over a quarter (26%) of homeowners with mortgages are afraid they could be repossessed, according to the latest Quarterly Consumer Report from Which? The research also suggests that many people in the 30 to 49 age group are ...

October 18, 2012

First-time buyers more financially focused

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by Gill Montia

First-time buyers more financially focused
A new report from Yorkshire Building Society claims that today’s first-time buyers are more financially focused than those who bought before the credit crunch. However, economic turmoil hasn't dampened their desire to "nest" rather than "invest" - 85% of respondents who bought in ...

October 9, 2012

Barclays acquires ING Direct UK mortgage book

Permalink: Barclays acquires ING Direct UK mortgage book
by Gill Montia

Barclays acquires ING Direct UK mortgage book
Homeowners who are mortgage borrowers with ING Direct UK are to transfer to Barclays, which is acquiring the online bank. As part of the deal, ING Direct UK's mortgage book, which has outstanding balances of £5.6 billion and a loan to ...

September 19, 2012

Prospective mortgage borrowers fear rejection

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by Gill Montia

Prospective mortgage borrowers fear rejection
While consumers believe availability of mortgage finance has improved in recent months, the fear of being turned down for a home loan is putting people off buying a property, the Building Societies Association (BSA) reports. In a new study, the BSA claims ...

September 11, 2012

LV= cuts equity release rates

Permalink: LV= cuts equity release rates
by Gill Montia

LV= cuts equity release rates
Equity release provider LV= has cut the rates on its Lifetime and Flexible Lifetime mortgages, and will no longer charge a higher rate of interest for loans of over £600,000. The rate on LV=’s Lifetime Mortgage for customers up to 80 years old ...

August 28, 2012

Dramatic improvement in mortgage affordability

Permalink: Dramatic improvement in mortgage affordability
by Gill Montia

Dramatic improvement in mortgage affordability
Mortgage payments for new borrowers are at their lowest for 15 years, according to Halifax. At the average loan-to-value ratio, payments for both first-time buyers and homemovers accounted for 26% of disposable earnings in the second quarter of 2012, down from 29% ...

August 16, 2012

Barclays responds to “highly competitive” mortgage market

Permalink: Barclays responds to “highly competitive” mortgage market
by Gill Montia

Barclays responds to
Barclays is lowering some of its mortgage rates by up to 0.3% from today and introducing a five-year fixed-rate deal at 4.89% for those with a deposit or equity of 15%. Key reductions include a drop of 0.3% on the lenders' ...