Filed Under (Mortgages) by admin on 31-01-2010
According to financial services group and mortgage lender Barclays, the average property owner in the UK has seen 20 per cent less of their salary taken up with mortgage repayments . The proportion of salary spent by property owners dropped considerably, falling from 196 of every 1,000 pounds in their salaries to 157 pounds per month.
The head of mortgages at Barclays, Andy Gray, reportedly commented: “For the 11 million UK households who gain a mortgage there is a silver lining to the recession – a substantial reduction in mortgage payments right when they need it most.”
Due to the lower mortgage requirements, thousands of borrowers throughout the UK may be attractive the opportunity to overpay adhering their home loans to bring down the total length of the loan and the interest paid. Full Article
Filed Under (Mortgages) by admin on 25-01-2010
The pledge news is full of concern regarding the decision by Skipton building society to up their standard variable rate, despite the Bank of England keeping base rate at a historically low 0.5%. The decision has annoyed many mortgage borrowers, not to mention mortgage brokers .
Skipton are thought to be struggling to stay independent, and had to break the promise it gave to much of its mortgage book when they took out a loan . The standard variable rate will now have being far in excess of the three points over the base rate .
The reaction was swift. Mortgage broker London and Country set up a free mortgage helpline for Skipton borrowers looking to leave the club. Full Article
Filed Under (Mortgages) by admin on 17-01-2010
A Scottish trust deed is a legal binding agreement that’s available to Scottish citizens which allows a trustee to deal with an individual’s financial affairs. This is often used as an attempt by Scottish citizens to help get them out of debt.
It’s used by individuals that have been struggling with a lot of debt. Although many confuse a Scottish trust deed with a Debt Management Plan, they are quite different. A Scottish trust deed allows you to make a formal proposal of your debts to a creditor in an attempt to clear them up and is usually done through a trustee.
When a Scottish trust deed is set up, all of your debts are consolidated into one monthly payment that is spread out over 36 months.
This is paid to the credito
Full Article
Filed Under (Mortgages) by admin on 16-01-2010
The average for 30 year fixed mortgage rates has been quite stable for the month of January but that might change in the near future. Citigroup conventional mortgage rates have been quoted at 4.85% today but this is in very light volume as today is a holiday. The stock market and treasury markets are closed so you can expect volume for mortgage rate quotes to be extremely light. We will not see strong movements until tomorrow when the market opens.
In the month of December 30 year fixed mortgage rates had a range of 4.49% to 5.35%. Since the opening of the year the 30 year fixed was between 4.9% and 5% for the entire month until the end of last week. No
Full Article
