More housing bubble fears as interest only mortgages return

iStock_000018295400_ExtraSmallHousing bubble fears were further increased earlier this week, as two banks have announced the return of interest-only mortgages. The announcements come just a year after the Financial Services Authority (FSA) branded these mortgages a “ticking time bomb,” with many borrowers having no way of repaying the debt at the end of the term. The two banks in question, Clydesdale and Yorkshire, have confirmed they will introduce a new product, which will allow borrowers to repay only interest for the first three years ...

Harlequin Property update: FCA urge investors to seek advice

Update Harlequin 150pxThe Financial Conduct Authority (FCA) has issued more guidance to Harlequin property investors. In a short statement published on their website, the FCA urged anyone thinking of investing in one of the Harlequin group of companies to proceed with caution. The FCA also recommended potential investors should ensure they understand the risks involved with the investment. Furthermore, the regulator recommended investors should take appropriate professional advice from suitably qualified financial advisers and lawyers, who specialise in the country where the proposed ...

Housing & Mortgage round up: Mortgage fees on the rise, whilst borrowers are left exposed

Housing & mortgage round up_istockphotoNo house price surveys to report this week, instead we focus on news that mortgage arrangement fees are on the rise, whilst a lack of savings is leaving millions of mortgage borrowers hugely exposed if they lose their job. We also bring you research which goes someway to dispel the myth that first time buyers rely on the bank of mum and dad for their mortgage deposit. Mortgage fees on the rise Despite interest ...

SIPPs: Exposing the myth of ‘SIPP approved’ investments

iStock_000016454287XSmallA recent exchange on Twitter between our Marketing Manager, Phillip Bray, and an unhappy SIPP investor led us to thinking about the world of unregulated investments and in particular the term, ‘SIPP approved’. Responding to one of our blogs, ‘7 lessons all investors can learn from the problems with Harlequin Property ’, the investor asked: “Perhaps you can explain, when something is SIPP approved, does that not mean due diligence and checks have been made?” This got us thinking, what does the term ‘SIPP ...