Figures from Money Expert show that there were more than 2.3 million consumers from around the country who took out a fixed-rate arrangement in 2004-05 and all these people are vulnerable to heightened repayment demands. Assessing the relevant mortgage deal…
Moneynet.co.uk has warned that while it may be tempting to consolidate debts in this way, borrowers could ultimately find themselves obliged to pay back more money than they can afford. Furthermore, these problems are likely to be compounded in the…
Continue reading the "Warning issued over ‘adding debts to mortgage deals’" »
Recent research carried out by the Council of Mortgage Lenders (CML) found that around 35 per cent of prospective homebuyers say they would need to borrow money from their parents before they could afford to get on the property ladder.…
Figures from the House of Commons have demonstrated that the number of mortgage possession orders issued by courts in Suffolk had more than doubled over the course of the past ten years. And these statistics were described as presenting concerns…
Continue reading the "“Worrying” repossession figures highlighted" »
Research from the online mortgage firm mform has revealed that 14 per cent of UK homeowners are convinced that they will struggle to meet their mortgage repayment demands if the base rate of interest is increased by a quarter-point. Additionally,…
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According to Fionnuala Earley, chief economist of Nationwide, despite the absence of a further rate rise in February, recent interest rate rises are causing a reduction in interest from prospective homebuyers. With house prices rising to £174,706 in February there…
According to Stuart Glendinning, managing director of Moneysupermarket, the number of personal loan applications has gone down in recent weeks as the higher cost of borrowing diminishes consumer appetite for unsecured credit. He also said that the availability of very…
Continue reading the "‘Personal loan applications falling as rates rise’" »
Research from Abbey has revealed that one in five potential first-time buyers would move back in with their parents in order to save money to afford a mortgage. Half would abstain from alcohol and holidays to keep their savings intact,…
Continue reading the "First-time buyers willing to sacrifice to save money" »
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