mortgage

First-time buyer 90% mortgages are reserved for ‘gold-plated’ borrowers, warn mortgage brokers

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Aspiring homeowners hoping to buy their first property with a 10 per cent deposit face limited choice and higher costs than they did a year ago. Of the 86 mortgages available to first-time buyers with a 10 per cent deposit, only 25 of these mortgages are available to all, according to analysis by Defaqto. It … Read more

My mortgage deal is about to end and I need to remortgage

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I bought my first property last year and I’m due to remortgage in May 2021 as my initial two-year fixed introductory deal expires then.  When I took out my first mortgage the term was 35 years. Will the term be different when I remortgage?  Also when I purchased the property in May 2019 it needed … Read more

Nationwide mortgage holiday mix-up left our home move at risk

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A couple were denied a new loan when they tried to move home to downsize, after they did not realise Nationwide had put a gap in their mortgage holiday.  Steve Allcroft and wife Irena, from Poynton, Cheshire, had their home purchase put at risk after they were left with a damaged credit file following a mix-up … Read more

Mortgage prisoners find their freedom from 2008 clampdown  

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Mortgage prisoners find their freedom after being locked in expensive deals since 2008 clampdown   By Amelia Murray For The Daily Mail Published: 22:00 GMT, 24 November 2020 | Updated: 22:00 GMT, 24 November 2020 Mortgage prisoners are finally being freed from expensive deals after overpaying for years – but many are still trapped. An estimated … Read more

Nationwide mortgage boost for first-time buyers

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Nationwide examining plans to make it easier for first-time buyers to get mortgage with 10% deposit By Helen Cahill, Financial Mail On Sunday Published: 21:50 GMT, 21 November 2020 | Updated: 21:50 GMT, 21 November 2020 Nationwide is examining plans to make it easier for first-time buyers to get a mortgage with a 10 per … Read more

What to do if your sale is at risk due to a mortgage down valuation

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Covid is wreaking havoc with some property purchases, mortgage brokers have warned, as agreed sale prices are downgraded by banks and building societies. In the most severe cases, it is resulting in house sales and chains falling through and homeowners unable to move, as mortgage lenders say properties are worth less than the price agreed … Read more

Comic Relief lost £380,000 to group whose director ‘used donations to pay his mortgage’

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Comic Relief lost £380,000 to an African aid group whose director used donations to pay his mortgage and splash out in expensive restaurants, an inquiry has found.   The charity is said to have awarded almost £800,000 in grants to Kenya Community Support Network.  The London-based charity aimed to relieve poverty, sickness and distress among Kenyans … Read more

It’s twin-tendo! Brothers, 20, pay off their parents’ mortgage by making video games 

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It’s twin-tendo! Brothers, 20, pay off their parents’ mortgage by making video games Twins use money they earned making video games to pay off parents’ mortgage  Identical twins Ben and Matthew Horton began making money aged 13  They already earn more than £100,000 a year each despite dropping out aged 16 By Courtney Bartlett For The … Read more

Mortgage rates plummet for those with lots of equity while 90 per cent mortgages get more expensive

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Cash-rich borrowers are being offered ever-cheaper mortgages while lenders have hiked prices for first-time buyers with small deposits for the fourth month in a row.   With 95 per cent deals having vanished from the market, 90 per cent deals have become a lifeline for would-be homeowners struggling to save a deposits worth tens of thousands … Read more