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In an attempt to get the British housing market moving, the government has introduced a new scheme called NewBuy where it is possible to purchase a new build property with a 95% mortgage. Yep you heard right, after the housing crash which was purportedly because of the high number of loans given to individuals who could not [...]
In a effort to boost home sales of new build properties and get developers shifting properties again the government have introduced a new scheme called NewBuy where the government will back mortgages for new build properties to the tune of ninety five percent of the value of the home. There are ups and downs to [...]
The percularity of the UK housing market get stranger and stranger. Rents are rising, but the economy is faltering, record numbers are out of work and the biggest letting agent in the country stated that in April, rents are the strongest they have been in years. This is all very bad news for tenants who are [...]
The recently introduced NewBuy scheme aims to helps those that would like to buy a house or flat but cannot quite afford a mortgage. In recent years due to the credit crisis, potential homeowners have been asked to stump up often 20-30% of the cost of the home and with average house prices of around [...]
This is no joke and no scam. There are companies out there that are paying almost 20% in dividends per year. Don’t believe me, then look at the top few companies in the mortgage REIT (mREIT) sector such as Annaly Capital Management and AGNC who are offering around 14% and 17% respectively from investing in mortgage backed [...]
In the wake of restructuring mortgage deals, the Irish government has asked homeowners to cut back on spending. Some suggestions that we could perhaps all do are: 1. Cut down on TV packages. Do you really need that extra sky package. Forget that sports package. 2. Take your children out of fee paying school. Why [...]
Home owners in Ireland who have been trapped by negative equity and are unable to move up are being given the option to move up the chain by tacking on the current shortfall onto their new mortgage. This should help provide liquidity in the marketplace and could get the Irish housing market moving again.
For many homeowners they have become reluctant landlords after being unable to sell their property. As potential first time buyers struggle to achieve the mortgage deposit for their own home and turn to renting, could this be kick starting the renting market creating pressure on would be renters and hence increasing prices. Many estate agents [...]
According to this weeks daily express now could be the best time to have a mortgage…because they are as cheap as they have been in recent times. Cheap is fine if you can actually obtain one. With deposits required for homes at record highs its making getting on the property ladder very difficult for many. [...]
The current lack of availability for mortgages is causing many families and would be buyers to rent. This in turn is driving up rental yields making it more profitable for landlords to invest if they have the capital. So we seem to have that familiar situation where first time buyers are in competition with landlords [...]
There has been much speculation of late that confidence in the housing market is so low that it may not be possible for many young families and prospective homeowners to archive their dream of home ownership as mortgage approval rates plummet and decline. Many are relying on a wait and see approach for the housing [...]
Interestingly the Daily Express ran a headline this past week suggesting that interest rates will remain at record low levels for the foreseable future. This is potentially very good for borrowers and those with mortgages especially as the expected payments on a mortgage dwindle. Whether savings will be passed on to standard loans is another [...]
Many have speculated that we are seeing a double dip in the housing market. We seemed to be seeing an increase in value until very recently in the last few months where prices have fallen. Some pundit are thinking this is the beginning of the end for the UK property market and expect to see [...]
Interest rates are still at record lows but mortgages are only starting to get reduced, but not enough. There still is uproar amoungst many that the banks are charging large amounts for their loans and mortgages whilst offering paltry returns for savers. At the latest MPC meeting where interest rates are decided, it was unanimously [...]
With mortgage rates averaging at an all-time low (0.5%) it’s important to understand what factors influence such rates. Specifics relating to individual lenders may vary, but in general these factors are universal. One vital aspect to know about your lender is how often they revise their mortgage rates, whether daily, weekly, monthly, or annually. If [...]
Home equity is the difference between the value of one’s home and the amount remaining to be paid on the mortgage; essentially, how much of the house one owns. After a time, equity accumulates and there are several options one can use to make the most of it. First of all, let’s go over specifically [...]
The “price” of borrowing money, interest rates affect many aspects of one’s financial foundation. They are, essentially, the current market return on fixed income investments, and fittingly, rise and fall with market demand. In the UK, such rates are subjective to the decision of the Bank of England Monetary Policy Committee (MPC), which in turn, [...]
