The number of property repossessions is likely to soar next year as the end of the decade-long house price boom brings pain to overstretched borrowers, the country’s mortgage lenders said yesterday.
Archive for the ‘Mortgages’ Category
Home repossessions to rise to 45,000 in 2008
Thursday, November 1st, 2007One Million householders use credit card to pay mortgage.
Wednesday, October 17th, 2007More than a million householders have used credit cards to pay their mortgage or rent in the past 12 months, according to a new survey published by ROOF, Shelter’s housing and homelessness magazine. (more…)
Sub-Prime home loan costs going through the roof
Wednesday, October 17th, 2007Borrowers with poor credit histories are in danger of having to pay £1000’s more to secure a mortgage as the backlash from America takes hold. (more…)
Base rate unchanged, mortgages still set to rise?
Tuesday, September 11th, 2007There are genuine fears that although base rates are unchanged that mortgage rates may still have to rise.
Mortgage rates are set to rise as crisis grips the worlds financial markets, home owners have been warned. Economists fear that high street lenders will be forced to pass on higher interest charges to their customers. (more…)
Are you getting the best mortgage deal?
Wednesday, August 22nd, 2007Money saving expert Martin Lewis lists this has his No.1 money saving tip.
If you have completed the introductory period of your mortgage, you should investigate which deals are currently available. Your first port of call is to phone your currently lender and say:- “I’m considering switching mortgage, and would like to give you the opportunity to offer me a better deal before I look elsewhere”.
I’ve tested this with my own mortgage lender as my deal expires in 4 months. They were happy to extend the discount for a further 2 years. If I had not asked , they would have raised my repayments by £170 per month. I saved myself £4000 over the next 2 years by simpley making one phone call.
