If you thought the self-employed had a hard time in the mortgage market, you’d be right. According to the latest data from the MBT Affordability Index, only 70% of self-employed mortgage applicants found at least one lender able to meet the loan. For customers aged 55 and over, however, the figure was 64%. So why […]
Mortgage
Understanding Mortgages and Interest Rates
At a basic level, interest rates are easy to understand. The higher they are, the more the borrower pays the lender and vice versa. In the real world, however, there can be a lot of nuance. With that in mind, here’s a quick look at the main types of mortgages and how interest rates apply […]
LTV And The Affordability Issue
Since the beginning of the Stamp Duty holiday, there has been an overall increase in the price of property in the UK. There has also been an increase in the number of people searching for 95% mortgages. Should this be ringing alarm bells? Here are some points to consider. The MMR should stop a repeat […]
COVID19 Lingers In Mortgage Market
It was always fairly obvious that COVID19 was going to have a significant financial impact on the UK (and, indeed, the world). What may not have been obvious, however, was just how that impact was going to manifest itself. For example, the after-effects of COVID19 are acting as a barrier to re-mortgaging. Here’s what you […]
Is It Time To Tackle Your Mortgage?
With spring springing and a new financial year rolling in, now could be the perfect time for some financial spring cleaning. If you’re a homeowner, you may be thinking about whether or not to try to make overpayments on your mortgage. Here are some points you might want to consider? How’s your cash-flow? If you’re […]
What Will Post-Pandemic Look Like For The Housing Market?
The initial lockdown (in March 2020) brought the housing market to an abrupt stop. Since then, it’s been operating under various levels of COVID19 restrictions. Now, however, vaccines are being rolled out and a way out of lockdown has been planned. It, therefore, appears that the UK may be reaching a “new normal”. What could […]