Struggling with Pension Contributions Amid Rising Mortgage Costs
Question: What happens if I cannot afford to pay into my pension scheme but I am worried about retirement? Answer: The past few years have been challenging for many households, with rising costs putting a strain on finances and leading to difficult decisions. A slight increase in the number of people opting out of workplace […]
Navigating Current UK Interest Rate Rises Amidst Lowering Inflation: Implications for Mortgages
The economic landscape is an intricate tapestry woven with various threads, where factors like interest rates and inflation play a pivotal role in shaping financial decisions and markets. In recent times, the United Kingdom has found itself at a crossroads as interest rates rise against the backdrop of decreasing inflation. This delicate dance between interest […]
Decoding the Stress Behind Mortgage Applications
Acquiring a home is a monumental life milestone, and for most, it necessitates navigating the labyrinth of mortgage applications. However, what should ideally be an exciting journey into homeownership often becomes a source of stress and anxiety. In a revealing statistic, two-thirds of mortgage applicants find themselves grappling with stress during the application process. Let’s […]
The Bank of Family And Its Impact On The UK Housing Market
The bank of mum and dad has expanded to become the bank of family. Its expansion has enabled it to underwrite an even bigger percentage of the UK’s mortgages. This means it has developed even more influence on the UK’s property market. This influence is, however, somewhat controversial given that not everyone has access to […]
Mortgages could cause household woes
As homeowners, it’s crucial to be prepared for the possibility of an increase in mortgage interest rates. Such increases can impact monthly repayments and overall financial stability. This article will explore five effective strategies to help homeowners navigate potential rate hikes and hence ensure they are equipped to handle higher mortgage costs. Reviewing current mortgage […]
New Mortgage Charter
New Mortgage Charter encourages lenders to provide you with more support Banks and Building Societies have been encouraged by Chancellor Jeremy Hunt to offer more flexibility if you are finding it difficult to make mortgage payments. Mortgage lenders, the FCA, the Government as well as organisations such as UK Finance and the Building Societies Association […]
100% Mortgage Fears
The resurgence of 100% mortgages has raised concerns in the housing market. While they offer an opportunity for buyers with limited savings to enter the market, the return of these high loan-to-value mortgages has sparked worries about potential risks and their impact on housing market stability. The risks of high loan-to-value mortgages High loan-to-value mortgages, […]
How To Manage Your Money When You Have A Mortgage
Managing your money is something you should always take seriously. It becomes even more important when you have a mortgage. Getting into financial difficulties could lead you to lose your home. With that in mind, here are some useful tips on how to manage your money when you have a mortgage. Prioritise insurance The whole […]
Time For The Self-Employed To Have A Mortgage Checkup
If you’re self-employed and a homeowner or (potential) homebuyer, then now is the perfect time to have a mortgage check-up. After the last few years with Covid-19, inflation and cost of living increases, your financial situation may not be the best. Don’t, however, let that deter you from securing your best deal. Instead, use your […]
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