Following the property crash and the Government bail out of several big banks, the Financial Services Authority (FSA) is considering placing limits on the size of mortgages offered to homebuyers, in a bid to halt risky mortgage lending. Traditionally, lenders were prepared to lend 3.5 times a salary on single incomes and 2.5-2.75 times a [...]

Payment protection insurance, also referred to as PPI, Accident, Sickness and Unemployment cover (ASU), Account cover, or Payment cover, is a form of insurance that covers the cost of monthly repayments on debt such as mortgages, loans, credit cards, storecards, and catalogues if you are unable to work due to illness or accident, or if [...]

If you have savings and are about to buy a home or to remortgage, why not consider taking out an offset mortgage? This type of mortgage allows you to offset any savings against the amount owed on a mortgage, potentially saving you thousands in interest and allowing you to pay off your home loan several [...]

On the 23rd February 2009, Northern Rock announced that it was to increase its mortgage lending capacity within the market, following close consultation with the Government. It will launch a whole new range of mortgages for both first-time buyers and those remortgaging. This means that existing Northern Rock customers will have greater choice when their [...]

Originally written by Sean O’Grady, Economics Editor, Independent. British households are repaying record amounts of mortgage debt, sharply reversing the trend that saw many consumers using their homes as “ATM’s” to fund spending as they moved into positive equity. The turnaround reflects depressed household confidence and the diminished value of housing. The Bank of England [...]