Mortgages

mortgages

Free government money to help buy home

Over 500,000 people have opened help-to-buy ISAs, which is a government backed fund which aims to help first time buyers getting money for a deposit for a house. These figures are from the Treasury, concerning the initiative which was launched last December. Basically, you get an ISA, and it offers you a government bonus of…

HSBC announce 1% interest mortgages

HSBC's are offering their "cheapest ever" mortgage. They've surpassed Yorkshire Building Society's 1.14% fixed rate deal, to offer would-be home-owners a mortgage with interest rates fixed at 1% for two years. Seeing as there's something of a crisis when it comes to people actually buying houses, mortgage lenders are being risky with what they're offering,…

How to... get a mortgage when you're self employed

Getting a mortgage when you're self-employed in the UK, is notoriously difficult. However, it isn't impossible and there are ways of getting your hands on some deeds, according to the financial regulator, the Financial Conduct Authority. A report from the FCA says: "We did not find evidence that the rules have prevented firms lending responsibly…

Nationwide ups mortgage age limit to 85

You may have seen that Halifax have upped the age limit for mortgages to 80 years old - well, Nationwide have decided to get in on the action, and have raised theirs to 85! Previously, the maximum age limit for its mortgages was 75, but with this rise, it is now the highest of all…

Halifax up mortgage limit to 80 years old

Halifax have put up the age limit for people who can get a mortgage with them to 80 years old - that's either a commentary on how we're getting healthier, or a nod to how we're going to all be working 'til we're a hundred. So what does this actually mean? Well, if you're 55…

Barclays bring back the 100% mortgage

Barclays have gone and brought back the 100% mortgage - the first time any of the big lenders has done this in a long, long time. Of course, the bank is looking at the market of first-time buyers who are struggling to get on the property ladder with other mortgage products. Anyone looking at this…

Average asking price for a house passes £300k

The asking price for a house in England and Wales has gone up, passing £300,000 for the first time ever, according to RightMove. Of course, estate agents wouldn't have anything to do with that, would they? Not while they're making those sad eyes at us about property prices! Anyway, they said that the growth of…

We're all borrowing more. Again.

It seems we’re all feeling confident and buoyant despite the doom and gloom mongering over the catchily monikered potential 'Brexit' we are all contemplating. Not to mention the disturbing prospect of a new US president named after a bodily function. New figures from the Bank of England show that we’re hungry to spend cash that’s…

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Mortgages below 1% - what?!

Mortgages below 1% - what?!

According to Chris Pilling - the head honcho over at Yorkshire Bank - mortgage rates could drop to below 1%. It looks like there's going to be a mortgage price war on, which is good news if you're one of those people who can actually get a mortgage. He reckons that two-year fixed-rate mortgages could…

Government should launch 'Help to Rent' scheme, says charity

A lack of funding has seen Britain's homelessness rocket in recent years, and one way to help solve this issue, is a 'Help to Rent' scheme, according to a charity. Crisis say that the government should help people get out of homelessness, with a project that is similar to Help to Buy. Instead, it would help…

Are you too old to get a mortgage?

We’re doing everything later these days. 50 is the new 40 they say, and in 2014, the average age for being a first time mother rose over 30 (30.2 years to be precise), as we all concentrate on doing other things first. But beware, if you leave things to late you might find yourself left…

House prices at a record high

According to the folks at Rightmove, the asking prices from people selling houses have jumped to a record high. That's an average of nearly £300,000 on average this month. The exact figure they've come up with is £299,287 across the markets in England and Wales. Last month, the average figure was £8,324 less, and the previous all-time high…

First-time buyers spending £50k on rent

Buying a house in 2016 is hard if you're a first-time buyer. Well, here's another kick in their gussets - if they're buying this year, by the time they get the keys, they will have spent an average of £52,900 on rent. This is according to the numbers crunched by the  Association of Residential Lettings Agents (ARLA),…

Is the UK breaching human rights with housing?

According to some leading charities, the UK is in breach of its international human rights duties, because of the failure to provide people with adequate homes. There's a lot of talk about the housing crisis, and the reduction in social housing in England. Elsewhere, rental accommodation in the private sector is too frequently unaffordable, and organisations are…

Watchdog launches probe into 'mortgage prisoners'

The Financial Conduct Authority are launching an inquiry into the world of mortgages, in a bid to find out why some homeowners are 'unfairly trapped' by their mortgages. There's claims that older people are being stopped from switching mortgages by lenders, and that's not on. The FCA is going to look into whether or not lenders…