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“Interest only” mortgages for contractors not the pipe dream they were

Posted by John Yerou on in Featured

The Council of Mortgage Lenders has reinforced its message that monitoring forecasts and budgets for repaying interest only home loans is the safest way to ensure mortgagees are not left high and dry.

Many banks and building societies pulled out of interest only or ‘endowment’ mortgages at the end of 2012. One reason was the creditworthiness potential customers needed to bring to the table, but weren’t.

The other was the lack of long-term verification that any plans in place would actually produce enough capital to pay off the mortgage at the end of the term.Continue reading »“Interest only” mortgages for contractors not the pipe dream they were

Chancellor’s new Help to Buy scheme strongly criticised by MPs

Posted by John Yerou on in Featured

One of Chancellor Osborne’s newest schemes announced in the Budget specifically designed to support the mortgage lending market has been criticised by MPs.Continue reading »Chancellor’s new Help to Buy scheme strongly criticised by MPs

Low cost lending may contain hidden dangers, experts say

Posted by John Yerou on in Featured

That attractive fixed rate mortgage loan might look like a fantastic deal, especially in the wake of ultra-low interest rates, but beware the bait and switch. Continue reading »Low cost lending may contain hidden dangers, experts say

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