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Mortgage Lending Hits a New Low Approvals for home loans in the UK have hit the lowest level ever recorded for a single month The blame has been set squarely on the credit crunch as lenders are not only finding it difficult to obtain the funds to lend to home owners but they seem unwilling to lend the funds they do have available Repackaging Adverse Credit Mortgages What do you do with a massive package of adverse credit mortgages that no one wants to buy This is the dilemma facing many financial institutions in the current economic climate Buy-to-Let Benefits From Market Slowdown The flagging property market has claimed many scalps over the past year or two Most notable of these are specialist lenders who opened their doors to borrowers of questionable worth and home owners who have since been issued with repossession orders in record numbers Credit Crunch and Self-Certification Mortgages With the credit crunch forcing lenders to evaluate their loan books and reassess the types of products they offer it would appear sensible to anticipate the demise of the self-certification mortgage However the market for self-certs remains buoyant as lenders have not tightened the reigns as much as expected and as much as they have for other products All About Self-Employed Mortgages There are a growing number of people in our society who choose to work for themselves and are therefore regarded as self-employed Such individuals may be required to apply for specialist self-employed mortgages when buying a home rather than traditional mortgages Self-Certification Mortgage Applications Rise The attractiveness of self-certification mortgage products is boosting the overall number of home loan applications in the UK For true self-cert products, the applicant does not need to fully prove their income by way of documentary evidence such as pay slips and tax records Buy-to-Let Booms as Property Market Halts While the overall mortgage market has slowed in the wake of recent interest rate rises, buy-to-let mortgage lending has surged This is a clear indication that buy-to-let property investing has returned to favour following a recent period of uncertainty Adverse Credit Mortgage For Discharged Bankrupt People who are discharged bankrupts are usually required to apply for an adverse credit mortgage when searching for a home loan to fund the purchase of their property It is highly unlikely that an applicant with such a poor credit record will ever be able to apply for a standard product again Overview of Remortgages Remortgages comprise a significant and ever-growing proportion of the overall mortgage market Property owners are always on the lookout for ways to save money, and with remortgages being relatively simple to organise, it has emerged as a popular method for helping home owners restructure their personal finances Lenders of Problem Remortgages There are a growing number of lenders who will consider applications for problem remortgages This is an indication of the growth in the market for home loan applications from borrowers with non-standard credit histories and financial situations over the past few years An Unlikely New Mortgage Market Much has been written about the sub prime mortgage crisis in the US and even more has been said Most analysts placed the blame for the implosion in the credit market on the adverse credit mortgage All About Adverse Credit Remortgages In recent years, adverse credit remortgages have become a popular choice for people seeking to refinance their property who suffer from impairments to their credit files Regular high-street banks will usually not refinance your property if you have a poor credit history Hedge Your Remortgage What a great life it would be if we could predict future interest rates Imagine being able to wait it out on your remortgage until such a time as interest rates dropped by several percentage points, just as you knew it would Aussie Self-Certification Mortgage Lender to be Sold One of Australia’s largest non-bank lenders has been offered up for sale by its owner GE Money – the giant American corporation with an international financial services arm The mortgage lender has apparently been put on the market to stave off a takeover bid by its previous owner however it is likely that the sale has been triggered in part by the credit crunch The Irony of Remortgages Recent news has emerged regarding the staff of a well known lender finding themselves in a position in which they cannot refinance their own homes Such a circumstance is quite ironic in addition to being ridiculous and shameful Releasing Equity With Buy-to-Let Remortgages Equity has long been the golden egg of the property investing world Build up enough equity in your property portfolio and you will never need to work again Brokers Tell it Like it is For Self-Certification Mortgages Self-certification mortgages have not enjoyed a good reputation in the property market in recent years Several years ago evidence emerged that some applicants were exaggerating their incomes in order to achieve bigger loans Trouble In The Adverse Credit Mortgages Market There are signs in the financial markets that it may soon become more difficult to obtain adverse credit mortgages For several years now lenders have been issuing adverse credit mortgages to people with low documentation and adverse credit histories almost at will The Search For A Remortgage Product Suffering from bad credit can cause problems when looking to remortgage your property The number of lenders who will consider a remortgage if you suffer from adverse credit diminishes as the level of damage to your credit file increases Lenders Pull Self-Certification Mortgages One of the world’s biggest finance companies has pulled its self certification mortgage range from the market with immediate effect The huge lender has their fingers in many different financial pies all around the world which means their UK self-cert loan book is tiny in the grand scheme of things First Signs Of Turnaround In The Remortgage Market It has been all doom and gloom in the remortgage market for nearly two years now The sub prime lending crisis in the US signalled the beginning of the end of a long period of prosperity in the worldwide property market in which mortgage lenders flourished Remortgaging Buy-to-Lets After Bridging Getting into the buy-to-let property club can be difficult for novices particularly if they don’t have much money to fund the enormous costs traditionally required to gain entry These costs include substantial deposits, stamp duty, legal fees, mortgage fees, and potentially furniture and fixture costs depending on how the property is going to be set up for renting out to tenants What Are Non-Status Mortgages? Non-status mortgages are designed for people who either cannot prove their income or who suffer from adverse credit “Non-status mortgages” is a term that is loosely used to describe all home loan products that are not standard high-street products What To Expect With A Problem Remortgage If you are an existing home owner with an adverse credit history and you wish to remortgage your property, you may be required to apply for one of many specialist remortgage products Because of your credit impairments you may be excluded from applying for standard high street home loans and will therefore need to shop around Refinancing Buy-to-Let Mortgages Remortgages now comprise almost half of all mortgage business written in the UK This is largely due to the mainstream residential mortgage market Bad Credit Mortgages With A Catch People searching for bad credit mortgages should be wary of products which advertise low headline interest rates Quite often, the mortgages that seem the best value on the surface turn out to be the most expensive in the long run Overview Of Bad Credit Mortgages It is estimated that a quarter of the UK population experience problems when applying for mortgages because of bad credit Back in the time when only a small number of lenders offered mortgages to the general public, a bad credit file proved an insurmountable problem Adverse Credit Mortgage Broker Fees Just because you suffer from adverse credit, it does not mean that you will automatically need to use the services of a mortgage broker who will charge a large fee when helping you apply for an adverse credit mortgage Although the fees targeted at adverse credit mortgage applicants are normally high when compared to applicants with clean credit, some brokers choose to not take advantage of the situation and do not charge excessive fees to their adverse credit clients Remortgage To Save Money Mortgage payments are the largest expense in a typical UK household It therefore makes sense to ensure that you are getting the best deal possible on your home loan which means that you should remortgage if necessary The Expanding Market For Self-Certification Mortgages The market for self-certification mortgages is expanding rapidly along with the rest of the non-conforming lending market This is mainly due to a rise in the number of self-employed people in the workforce Buy-to-Let Repossessions With interest rates and household bills rising rapidly it is inevitable that property investors and owner-occupiers will begin to struggle financially One key indicator that the affordability of property is in decline is the rate of repossessions Growing Demand For Buy-to-Let Mortgages The constantly evolving buy-to-let mortgage market has been contributing to the increase in demand for investment properties ever since buy-to-let investing became a mainstream form of investing Ever since buy-to-let mortgages were first introduced to the UK in the mid-1990s, demand for private rental properties has increased considerably Overview Of Adverse Credit Mortgages There are a number of reasons why people may be categorised as having adverse credit, including; County Court Judgments, mortgage arrears, loan defaults, or bankruptcy People who are in such a situation and who wish to buy property will most likely need to apply for adverse credit mortgages Alternatives To Remortgages Unlocking equity that has built up in a property can be achieved through a number of means including refinancing your home Remortgages are carried out by home owners who want to release the equity in their home and apply for a new mortgage at the same time What Is A Self-Certification Mortgage? A self-certification mortgage is a method a declaring income that will be suited to an applicant who may have sources of income which are not easy to prove Many people believe that a self-cert is a type of home loan but it is important to note that self-certification is not a type of product, rather it is a method of declaring income Mortgage Brokers Favoured For Remortgaging Recent figures released by the Council of Mortgage Lenders reveal that home owners in the UK are more likely to seek advice from intermediaries when they remortgage their homes The alternative is for borrowers to apply to refinance their homes directly with lenders however it seems the majority of property owners favour impartial advice from mortgage brokers instead Warning For Adverse Credit Mortgage Fraud The Financial Services Authority has been slowly ramping up its operations to target mortgage fraud in the UK by gathering enough evidence to successfully prosecute perpetrators High on the list is fraud involving adverse credit mortgage products Should The Government Rescue Adverse Credit Mortgages? The Federal Government’s apparent willingness to support the market for adverse credit mortgages in the United States raises the question as to whether the UK Government should consider doing the same The House recently passed a allowing the Federal Housing Administration of providing insurance to lenders on mortgages that are in danger of becoming delinquent The Hidden Sub-Prime Buy-to-Let Mortgage Crisis For several years Britain has been denying that it is facing the credit crunch that has gripped the financial markets of the United States While financial institutions collapsed and entire neighborhoods were abandoned to become ghost towns throughout the USA, Britain appeared to dodge the silver bullet and emerge unscathed from the loose lending criteria of the early 2000s The Retracting Self-Certification Mortgage Market Once upon a time self-employed workers found it nearly impossible to get a mortgage unless they had an enormous deposit and a large income from their business activities that spanned many years Those times may be about to return as lenders are pulling their self-certification mortgage products from the market as if they are tainted beef Credit Crunch Hits UK Housing The credit crunch is in full swing in the USA and laying in its wake are failed financial institutions, record losses by those left standing, ghost towns awash with abandoned homes, and drastic measure implemented by the Federal Reserve to decrease the costs of borrowing and ease the crisis While there is no doubt that the United States is feeling the effects of the credit crunch, Britain has been living in denial that it will eventually fall victim to the oversupply of loans and mortgages to people with bad credit histories and unreliable incomes Getting A Mortgage After Bankruptcy If you have been made bankrupt you may think there is no chance you will ever be able to secure a mortgage again It is true that while you are legally bankrupt you will not be able to successfully apply for finance, but once you have been discharged the situation can change Assessing Remortgage Applications If your home loan is costing you more money than it should or if you are nearing the end of a fixed interest rate or discounted rate period you may be preparing to remortgage Switching mortgages is quite common in the UK with most home owners remortgaging on average about every seven years 10 Years Of Buy-to-Let Mortgages The buy-to-let market has come a long way since it’s inception in 1996 At that time there were only four lenders who offered mortgage products specifically targeted at the private rented sector The Buy-to-Let Mortgage Arla Panel Property investment first came into existence in the UK in the 1990s and has boomed considerably in recent years Although there has been some recent turmoil in the financial markets experts still consider property to be a solid long-term investment The Basics Of Adverse Credit Mortgages Adverse credit mortgages are arranged for home owners and first-time-buyers with impaired credit files People with adverse credit are usually excluded from applying for mainstream mortgage products and are therefore forced to seek alternatives Tips For Smooth Remortgages With over a million UK householders reaching the end of their fixed rate mortgage deals this year the market for remortgages should be heating up Instead, the market has cooled as the effects of the global credit crunch slowly erode the confidence and profits of UK mortgage lenders Buy-to-Let Up To The Challenge There is no doubt that the buy-to-let market is about to face some challenging years If you were to believe everything you read in the press about investment property you might think the entire property market was about to collapse under the weight of buy-to-let repossessions Pathways To Adverse Credit Mortgages There are many different ways you can negatively affect your credit history If you cause enough damage to your credit file you may be forced to apply for adverse credit mortgages when looking to buy or remortgage your home When Is A Self-Certification Mortgage Appropriate? A self-certification mortgage is a home loan product designed for borrowers who may not be able to prove their income through traditional means such as tax records and pay slips They were first made available to self employed individuals who could not produce the documentation required for a standard mortgage product from a high street lender Pushing The Boundaries Of Buy-To-Let Mortgages Traditionally, buy-to-let properties were purchased by financially astute individuals or professional landlords with more than just a few properties in their portfolios by using a combination of cash and funds from buy-to-let mortgages However, as the popularity of buy-to-let property investing has increased, more and more people are using it as an investment vehicle to supplement their income and provide for their retirement County Court Judgements And Bad Credit Mortgages A County Court Judgement is an order by the courts for one party to pay an amount owing to another party County Court Judgements, or CCJs, affect people’s credit files and will normally require the applicant to abandon the prospect of applying for traditions mortgage products and instead apply for bad credit mortgages Buy-to-Let Investing Still Pays As the property market boom continues to become a mere memory, lenders have begun to tighten the criteria on buy-to-let mortgages for new-build properties This is because the lenders are regarding premium priced new-build property as a riskier asset to lend on when compared to older property Warning For Bad Credit Mortgage Lending Bad credit mortgage applications are subject to strict rules that are enforced by the mortgage industry regulator – the Financial Services Authority The regulator regularly investigates whether the bad credit mortgage rules are being adhered to by mortgage brokers by way of test samples and mystery customers Self-certification Mortgages In The Clear Following a report from the BBC’s Money Programme, the FSA (Financial Services Authority) conducted its own investigation into self-certification mortgages and the practices undertaken by mortgage intermediaries when helping individuals apply for such loans The original BBC investigation was triggered by information from the public that some brokers were falsifying information on self-cert mortgage applications and therefore committing mortgage fraud Buy-to-Let Mortgages Overview Buy-to-Let mortgages are specialised products designed for situations in which residential property is purchased with the intention of letting it out While many people may think they buy-to-let mortgages are a type of residential mortgage, they are in fact viewed by the Financial Services Authority as commercial mortgages Buy To Let Mortgages Face Negative Equity Tens of thousands of property owners may be at risk of negative equity this year if the prediction of falling house prices comes true Leading organizations are estimating that property prices will fall by about five percent during the year which leaves almost no margin for error for the thousands of would-be property investors who bought properties with 95% buy-to-let mortgages during the past few years The Big Pile Of Debt Consumers are borrowing more money than ever before UK residents have built up a huge pile of debt in recent years and it is still growing Buy-To-Let Mortgages Explained According to figures, 10% of all homes bought in 2006 were via the buy-to-let mortgage option Accounting for over £17 Remortgage Before Interest Rates Rise Home owners throughout the UK may be about to learn a harsh lesson – that low interest, fixed rate mortgages may not be as good as they first appear With hundreds of thousands of property owners about to remortgage their homes after their fixed rate mortgage term has expired, a reality check on a mass scale may be on the cards Tough Times Ahead For The Self-Employed Mortgage products are currently being pulled from the shelves at a record rate While borrowers were spoiled for choice only a few months ago the number of products on offer has nearly halved – from a peak of thirteen thousand to approximately seven thousand Adverse Credit Mortgage Fees If you suffer from bad credit and need to apply for an adverse credit mortgage product it does not mean that you will automatically need to use the services of a broker who will charge a hefty fee when helping you apply for a home loan There are other options available such as finding a mortgage product by yourself or employing the services of a broker who charges reasonable fees Non Standard Mortgages Although you may think that there is just the one kind of traditional mortgage, whether it be a 100%, no deposit or interest only mortgage, there is also another kind, known as a non standard mortgage This is for when the property you’re buying isn’t made of the normal brick and mortar construction; it could be steel frame, self-build or any other type of material Foreign Currency Mortgages In recent years a new type of mortgage product has entered the UK market – foreign currency mortgages These mortgages are designed to help home owners save money on their home loan by saving on interest payments and reducing the balance through changes in the foreign currency markets Tough Times Ahead For The Self-Employed Mortgage products are currently being pulled from the shelves at a record rate While borrowers were spoiled for choice only a few months ago the number of products on offer has nearly halved – from a peak of thirteen thousand to approximately seven thousand Ccjs And Bad Credit Mortgage Applications A County Court Judgment is an order by a county court for one party to pay a sum of money to another party This usually occurs because a dispute over an alleged debt has not been settled by the parties outside of the court system Mixed Messages From The Buy-to-Let Market With the greater property and mortgage market in the midst of the biggest upheaval since the Great Depression many are wondering what happened to buy-to-let Several years ago buying property to rent out was more of an obsession than a pastime First Time Buyer Mortgages One of the hardest parts of buying a home can be when you’re a first time buyer Not only can it be difficult to be able to afford your very first home; it can also be confusing working your way through all the different options and terminology around the first time buyer market Interest Only Mortgages If you’re in the process of buying a house, you may have come across the phrase “interest only mortgage” As the name suggests, this is where you simply pay the interest and nothing else for the duration of the mortgage The Changing Face Of Self-certification Mortgages Several years ago self-certification mortgages were investigated by the Financial Services Authority The FSA looked into the practises of mortgage brokers in the financial services industry as it was alleged that unscrupulous brokers were encouraging people to exaggerate their incomes on self-cert applications Where To Find Remortgages The mortgage market is vastly different to what it was a few years ago For the best part of this decade lenders have been heavily marketing and frantically approving millions of discount rate home loans that are designed to switch to a higher variable rate several years later The Evolution Of Green Mortgages Several UK lenders have begun to bring green mortgages to the market following Gordon Brown’s latest budget announcements The term “green mortgages” refers to loans for properties that are considered to be environmentally ethical or that meet certain carbon output criteria 100% Mortgages – Are They For You? If you’re looking to buy a house, but don’t quite have enough capital to put down a minimum 5% deposit, it may be that you can apply for a 100% mortgage, also known as a no deposit mortgage This is where you’re actually borrowing against the full cost of the property, as opposed to whatever’s left after you’ve put down a deposit Bad Credit Mortgages Contribute To Rising Repossessions Repossession numbers in the UK are on the rise and are expected to increase further during the current year Some analysts are putting the blame squarely on bad credit mortgages and the loose lending criteria of the past five to ten years Key Worker Mortgages With the price of the average home in the UK now standing at around a staggering £230,000, according to the Land Registry of England & Wales, getting onto the property ladder is becoming increasingly difficult With most mortgages only allowing you to borrow up to 3½ times your annual salary, and it’s almost impossibility for first time buyers to get a foothold Offset Mortgages One of the key reasons for anyone buying a house is because it can turn out to be one of the best investments you’ll ever make Everyone’s heard of the saying “invest in property”, and that’s exactly what you’re doing when you buy your own home Should You Get A Second Mortgage? If you’re a homeowner and you run into financial difficulties, there are a few options available to you to raise some quick cash You can apply for a loan; maybe sell some items on eBay; or you can take out a second mortgage Mortgage Brokers Taking Care Of Business The lure of becoming self-employed and no longer having to answer to your boss is strong in the mortgage industry A high proportion of mortgage brokers eventually leave their positions of employment to practise advising on their own once they gain the skills and experience necessary to do so Mortgage Advisers And Overseas Property The foreign property market has become an obsession with British investors in recent years and mortgage advisers have reaped the benefits While France, Spain, and Portugal have long been favourites with retirees and investors alike, new markets in Eastern Europe have emerged and tempted many Brits

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