October 2012

It isn’t rocket science….

So spoke Martin Wheatley, currently managing director of the FSA (Financial Services Authority) and chief executive designate of the FCA (Financial Conduct Authority). This was a comment he made as part of an interview (one of several that he has given over the past few days) about a report published by the FSA that revealed that many people who took out interest-only mortgages may never be able to repay...

Old-fashioned deposits needed…

More and more schemes are being launched to stimulate the housing market many of which are proving to be controversial.  None more so than the "Shared Appreciation Mortgage".  To explain what this is, let's go back a bit: in the good old days when mum or dad would lend you the 5% deposit to buy your home, you owed mum or dad the amount that was lent to you eg. £5000. As history and family Christmases...

Scared of becoming a landlord?

Direct Line Insurance recently posted a fantastic advert/article in many of the property sections of the national newspapers.  Their marketing team outdid themselves by highlighting not one, but fifteen "top tips for landlords" all of which were on the money.  However, as accurate as they were, some potential landlords could be put off renting for the first time because of the work and effort required in...

The end to mortgages?

According to a recent groundbreaking report by Hometrack many homeowners in Britain will not have a mortgage within 3 years.  With few young couples and prospective first time buyers able to take out a mortgage, the profile of homeowners has changed dramatically.  Young people who have typically bought with a large mortgage are now forced to rent, or live with their parents.  This is because as an...

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