Citizens Advice figures show that 770,000 Britons missed repayments as they failed to properly manage their debt. “We are very concerned about the numbers of people who are missing payments,” said Citizens Advice chief executive David Harker. “Missing payments on…
Ray Boulger, of independent mortgage broker Jon Charcol, said that only the most self-disciplined should take out such a mortgage as it was easy to end up with large debt. Commenting on the amount of people getting their first home…
Continue reading the "Expert expresses interest-only mortgages concern" »
High levels of student debt mean that the majority of graduates are increasingly sceptical of their chances of getting on the property ladder. The need to clear debt before saving up for a deposit means that more than a third…
Continue reading the "Struggle to clear debt keeps graduates from housing ladder" »
Julia Harris, mortgage analyst at Moneyfacts.co.uk, said that banks were waking up to the fact that while graduates may start with huge debts, they will soon start earning and will want a home in the meantime. “With the aim of…
Continue reading the "Graduates in debt advised over mortgages" »
Nationwide research shows that due to low interest rates, house prices and interest payments on mortgages are affordable for many, but mortgage providers are demanding too great a deposit or will not lend enough money. Fionnuala Earley, Nationwide’s group economist,…
Continue reading the "First time buyers are struggling to save a deposit" »
Its latest research shows that student loans are leading to high levels of debt that are set to lead to a decline in home ownership unless something is done. “While home-ownership remains a long-term aspiration for the majority, the reality…
Continue reading the "CML: Help needed for indebted first-time buyers" »
The lender has launched the ‘Buy for Uni’ mortgage, a 100 per cent loan, after discovering through research that there is apparently little difference between average student rents and average mortgage payments in Bath. The building society’s target customers are…
Bradford & Bingley’s Duncan Pownall, who runs the mortgage development sector at the lender, said that even though increasing numbers of young people were in debt it did not mean they would be unable to borrow money. Citing new research…
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