Interest rates predicted to rise, what action should you take now?

Interest rates predicted to rise, what action should you take now 150pxAfter six years at an all-time low, the Governor of the Bank of England, Mark Carney, has suggested that interest rates could rise before the end of the year. Over the past few years we’ve all grown used to low interest rates; mortgage holders have enjoyed them, whilst savers have had to endure considerable pain. So with an interest rate rise predicted what action should you take? Mortgage borrowers If you have a tracker rate mortgage As the name suggests, the interest rate ...

Thousands getting into debt to meet housing costs

iStock_000007329749XSmallNew research has shown that thousands of people are taking out loans to help them keep up with their rent or mortgage payments, whilst many more are burying their head in the sand over late payments. Research from the housing charity Shelter, has found that nearly 20% of mortgage holders and tenants have had to take borrow money to keep up to date. Furthermore around 10% of people are concerned they will not be able to pay their mortgage or rent at the ...

First time buyers surges as more plan to leap onto the property ladder

ladder to the skyThe number of first time buyers jumping onto the property ladder has hit levels not seen since the peak of the last property boom. The latest figures from the Council of Mortgage Lenders (CML), show that the number of mortgages offered to first time buyers is up by 33% on the same time last year, whilst total lending to first timers is up a massive 48% on this time 12 months ago. The number of first ...

Mortgages: Thousands of first time buyers take advantage of Help to Buy

iStock_000001310973XSmallNew figures have shown how thousands of first time buyers have taken advantage of the Government’s Help to Buy scheme. The data released by the Department for Communities and Local Government (DCLG), shows 5,375 new homes have been bought over the past six months using the Help to Buy Scheme. Encouragingly 92% of the homes were bought by first time buyers; one of the groups Help to Buy was designed to help. The average price of property bought under the scheme ...