shared ownership: an alternative to traditional home ownership
Shared ownership, an alternative to traditional homeownership, offers a viable solution for individuals struggling to enter the property market due to high property prices and mortgage costs. This arrangement enables prospective homeowners to purchase a portion of a property, typically between 25% and 75%, while paying rent on the remaining share. The deposit required for […]
switching to an interest only mortgage
Many individuals are yet to confront the harsh reality of rising interest rates, a situation set to change dramatically for approximately 1.4 million people whose fixed-rate deals will conclude in 2023, most of which were initially secured at rates below 2%. With this looming deadline, some homeowners may be contemplating switching to interest-only mortgages to […]
millions face mortgage rate rises
The current volatility in financial markets has had a direct impact on mortgage rates, with anticipation of further interest rate rises fueling recent market instability and influencing the availability of mortgage products. A recent survey warns that over three million individuals in the UK could potentially face a ‘remortgage nightmare.’ Approximately 40% of mortgage holders […]
millions face mortgage rate rises
The current volatility in financial markets has had a direct impact on mortgage rates, with anticipation of further interest rate rises fueling recent market instability and influencing the availability of mortgage products. A recent survey warns that over three million individuals in the UK could potentially face a ‘remortgage nightmare.’ Approximately 40% of mortgage holders […]
long term mortgages
The rising cost of living is putting pressure on homeowners and prospective buyers alike. To manage their monthly repayments, an increasing number of individuals are opting for extended mortgage terms, stretching to 35 or even 40 years. Over the past year, there has been a notable uptick in applicants selecting a 40-year mortgage term, with […]
what to do if you can’t pay your mortgage
In the past eighteen months, the Bank of England’s series of base rate increases have triggered a notable surge in monthly mortgage payments, posing challenges for many mortgage holders to meet their financial obligations. This predicament is particularly acute for individuals transitioning from five-year fixed-rate mortgages, who may confront an unexpected spike in payments due […]
first time buyer deposits paid across the uk
Since the government’s announcement on 23 September 2022, mortgage rates have surged, appearing as if they’ve been propelled into the financial stratosphere, dramatically altering the landscape for both prospective homeowners and current mortgage holders. For those aiming to purchase a home in the UK, first-time buyers typically save between £26,400 and £144,500, as per new […]
sharp increase in borrowing costs
Headlines are ablaze with reports detailing the intensifying cost of living crisis. The surge in inflation, escalating interest rates, and soaring energy prices impose a significant financial burden that even the most financially prudent households cannot overlook. In light of this economic turbulence, many families are seeking strategies to navigate these challenges and regain control […]
Could remortgaging help you to beat the cost of living crisis?
Headlines are ablaze with reports detailing the intensifying cost of living crisis. The surge in inflation, escalating interest rates, and soaring energy prices impose a significant financial burden that even the most financially prudent households cannot overlook. In light of this economic turbulence, many families are seeking strategies to navigate these challenges and regain control […]
TAKING OUT A MORTGAGE IN LATER LIFE TO BYPASS INHERITANCE TAX
With the rising population of individuals aged over 60 in the UK, more are exploring the option of obtaining mortgages to mitigate Inheritance Tax (IHT) burdens. This financial strategy aims to potentially lessen the IHT obligations when passing down assets or properties to family members upon death, if deemed appropriate. IHT is a tax imposed […]