Retirees with Interest Only Mortgages Face Tough Decisions
More than half a million people aged over 50 years could be forced to sell their properties to pay off interest only mortgages, new research has suggested. Saga Personal Finance has suggested that many people are facing the burden of mortgage debt as they enter retirement – and some of them have no way of […]
Summer saw Mortgage Supply Drop says Bank of England
The number of mortgages made available fell in Q3, marking the first drop in availability for more than two years. Lenders reported to the Bank of England that supply and demand for home loans fell in the three months until early September. New affordability rulings from the Bank’s policymakers led to the squeeze but lenders […]
Rates on Fixed-term Mortgages Rise – Consumers Urged to Act
Rates on fixed-term mortgages are rising and borrowers looking for a long-term fix are being urged to act quickly. Many five-year, fixed rate mortgages from the major lenders have all risen in the past few weeks, with several low-rate products being withdrawn altogether. Santander, Natwest, Nationwide, Yorkshire Building Society, Clydesdale Bank and Tesco Bank have […]
