A new report says the Bank of England’s long-term, low base rate has led borrowers to develop ‘unrealistic expectations’ of what they should pay for new mortgages. So are we in for a rude awakening when rates rise?
Making people use their assets to pay unsecured debts is fine in theory, but when lenders put their homes at risk because of debts of less than £600, it just abuses the system.
A new report suggests it’s cheaper to buy than to rent in 80% of British cities and towns. Meanwhile, my experience is a powerful reminder of why many tenants climb aboard the property ladder as soon as they are able.
If you don’t get a proper survey done when you buy a new home, you could be looking at big bills further down the line – or worse. Is it time for full surveys to become mandatory?
The mortgage industry is concerned that proposals for the future of mortgage lending will have a negative impact on consumers. So do we really need to be stricter when it comes to lending?
Reports say that more and more house buyers are undercutting asking prices at the last minute – or ‘gazundering’. It’s a practice that needs to end as it’s unethical – or is it?
If you’re young and want to get onto the property market – think again. The cost of jumping on board is so high, it’s locked out thousands of first-time buyers. And it’s a problem that’s unlikely to be solved for a generation.
Mortgage lenders are approving fewer applications, putting an end to many a dream of home ownership. But is this really such a bad thing? Could it be better for our financial health?
House prices rise and fall, but there’s lots of additional extras that are always there. If we want people to own property, then we need to bring these costs down right now.
In this troubled economy you’d expect mortgage lenders to be cautious about lending. So why are they still handing out massive mortgages when it’s their job to ensure people can meet their repayments?