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The citizens advice is warning that UK homeowners are “doomed to fail from the start” if they are sub-prime mortgage borrowers – i.e. those with a history of bad debt, repayments or a troubled financial past.
There are a variety of factors that, when combined, are making it more and more difficult for sub-prime borrowers in […]

More and more of us are borrowing an increasing amount of money against the value of our homes, according to research from the Bank of England. In official language this is known as mortgage equity withdrawal.
The amount of mortgage equity withdrawal amounted to £49.7bn for 2007 and that was up from £36.6bn in the previous […]

The new Chancellor of the Exchequer Alistair Darling has indicated that intervention may be needed in order to raise the amount of fixed-rate mortgages available lasting up to 25 years.
Mortgage lenders have been accused of lending fixed rate home loans on only a short-term basis in order to maximise their profits. This might be good […]

Many homeowners struggle to pay their home loans; one percent of all people who hold mortgages, according to the Council of Mortgage Lenders.  This may not sound like a high number, but it represents hundreds of thousands of homeowners.
Many of these people faced an emergency, health issue, relationship break up, or even a death in […]

Many people are unaware of the tools available to help them manage their debts, calculate interest, and increase their wealth.  These include mortgage calculators that will let customers play with the numbers for hours until they target the right combinations that will help them build wealth and protect themselves against the impact of higher interest […]

Home loans create a debt against the borrower’s house. The borrower has equity in his or her home as collateral. In real estate, the equity refers to the difference between the market price of a property, and the home equity loan. Equity is the interest that a borrower pays on the loan.
A mortgage, is a […]

Building society Nationwide, reported that the current average house price is 9.5 per cent higher than it was in April 2006.
The 2006 average was £175,554, with London and Northern Ireland hosting the highest prices.
Despite lower prices in the region, the market in the North of England and Wales is beginning to show signs of slowing.
Banks […]

A 102-year-old recently received a 25-year, £200,000 mortgage, which will be paid off when he reaches 127 years old. Consumer groups and debt advisors greeted the revelation with alarm.  The man will make repayments of £958 a month.
More alarming is that the banks offered the pensioner an interest-only loan based on a promise that he […]

About a tenth of parents are considering moving into a smaller property once their grown-up children move out to help fund their retirement, new figures reveal.Research released by Yorkshire Bank suggests 11 per cent of parents are thinking of downsizing their home to release extra money for when they retire.Head of retail Gary Lumby said: […]

Britons begin saving for retirement before they have even bought their first property, it has been revealed.According to research from Axa, the average consumer begins planning their pension when they are 28, a full year before they buy their first home.Young Britons were also reported to be saving about ten per cent of their annual […]