An elderly couple face losing their home after Santander has refused to extend their interest-only mortgage due to their age. The bank has launched repossession proceedings against Len and Val Fitzgerald who live in Eastbourne, East Sussex. However, Santander has now agreed [...]
Between 2013 and 2017, the amount being overpaid on UK mortgages increased by 25%. Initially, the amount overpaid was £14.1 million but later increased to £17.6 million. Generally, borrowers are overpaying on their mortgages to save money in interest. Currently many borrowers [...]
Digital mortgages sound like something from the distant future, yet they are fast becoming a reality. A new “sign your mortgage deed” service allows borrowers to sign their deed online. The hope is that the re-mortgaging process will be sped up and [...]
This week, the Resolution Foundation thinktank released a prediction regarding the future of young buyers. One third of young people could spend their entire life renting and may never own a house. A decade of low interest rates and rising house prices [...]
The price of a property for the lowest earners has risen faster in Britain than anywhere else in western Europe. This only fuels a startling increase in homelessness that has become a significant issue. Startling Increase in the UK For people who [...]
The Government could be facing a new problem in the future, as ageing millennial renters become a major challenge. According to a new report issued by the Resolution Foundation, half of millennials will still be renting in their forties. Another third could [...]
Many young millennials view the possibility of owning their own property as a dream that is out of their reach. The shortage of properties in the UK has led to a continuous increase of house prices. According to the most recent price [...]
Facebook has recently come under fire after 50 million users had their personal details collected without their knowledge or consent. As the company battles to save its reputation, it has become known that the financial sector uses social media to learn about [...]
Older borrowers could be given more options to refinance their home, or release equity through interest only mortgages. This comes after a rule change by the Financial Conduct Authority (FCA). Retirement interest-only deals have been redefined by the regulator as standard mortgages. [...]
Despite the promise of funding for social housing, the government has yet to actually provide it. Although there have been repeated assurances that the UK's housing shortage will be tackled, there has been little action. As a result, UK councils have been [...]
