CONSIDERATIONS FOR FTBS Getting onto the property ladder has always been a challenge, but perhaps even more so at the moment. A report has found that it is currently the most expensive time to be a first-time buyer (FTB) in over 70 years1. Managing monthly payments Higher mortgage repayments [...]
ARE INTEREST RATES ABOUT TO PLUMMET? Having barely shifted since last autumn, many analysts expect that interest rates may start edging down. What will that mean for mortgage borrowers and anyone looking to remortgage? Time for a fall? Most analysts agree that interest rates have peaked but there is [...]
STRESS IMPACTS MORTGAGE APPLICANTS A new study1 has highlighted that almost two thirds (64%) of mortgage applicants in the UK have struggled with feelings of stress and anxiety over the last year. This figure increases to 80% amongst first time buyers who are clearly finding the process challenging. With [...]
SHOULD I OVERPAY MY MORTGAGE? Whilst many people may be struggling to keep up payments on their mortgages in the wake of steep interest rate rises, there are a significant number of homeowners who may be wondering whether it is worthwhile paying more than the minimum statutory repayments each [...]
LIFE COVER AND YOUR MORTGAGE - HAND IN HAND One of the financial responsibilities of homeownership is to protect yourself and your family. Life insurance and your mortgage are inseparable companions. Life insurance provides a safety net. A payout can pay off the remaining mortgage balance, ensuring that your [...]
WHAT TO CONSIDER BEFORE REMORTGAGING With mortgage rates at their highest since the 2008 financial crisis1, those looking to remortgage have more to think about than usual. Many whose deals are coming up for renewal will have agreed their mortgage at a time when Bank Rate was just 0.1%. [...]
CONSIDERING CHOOSING A 'MAMMOTH' MORTGAGE? A standard mortgage used to run for 25 years but there is a growing trend for so-called ‘mammoth’ loans spread over up to 40 years as first-time buyers and movers opt for lower monthly payments. A dramatic increase According to UK Finance, the last [...]
FTB'S JOIN FORCES FOR A MORTGAGE The stereotypical picture of applicants for a joint mortgage is a married couple or civil partnership bringing together their finances and committing their future to one another. Increasingly, however, a new type of buyer is resorting to joint mortgages: first-time buyers (FTBs) struggling [...]
FIRST-TIME BUYERS: FIVE MORTGAGES TO HELP YOU ONTO THE PROPERTY LADDED - WHAT MORTGAGE Options for first-time buyers, especially those of you with a small deposit, may seem thin on the ground. But, in fact, there’s an innovative array of mortgages which can help you access homeownership. Kate Saines [...]
WILL UK MORTGAGE RATES GO DOWN IN 2023? - TIMES MONEY MENTOR UK mortgage rates are on the rise amid fears of further interest rate hikes. We look at today’s average deals, what’s happened in recent days and if mortgage rates will fall in 2023. The UK mortgage market [...]
