Homebuying: Millions of borrowers have no way to repay their mortgage

iStock_000001437287XSmallA new report from the Financial Conduct Authority (FCA), has laid bare the extent of the interest-only mortgage crisis facing millions of UK homeowners. The FCA, who recently took over from the Financial Services Authority (FSA), has found around half of the 2.6 million interest-only mortgage holders in the UK have no way of repaying the debt at the end of their mortgage term. The research which was conducted by GfK NOP and question over a 1,000 interest-only mortgage holders, found the average shortfall was £71,000....

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 ...

Housing & Mortgage Round Up: Help to Buy unveiled, whilst first time buyers continue to struggle

Housing & mortgage round up_istockphotoA huge amount of housing and mortgage news to catch up on this week, with the main headlines being grabbed by the unveiling in the Budget of the Help to Buy scheme, designed to provide much needed help to people to get on and also move up the housing ladder. There is also news confirming just how negative many would-be first time buyers feel about the housing market, perhaps confirming the ...

Housing & mortgage round up: House prices and help for first time buyers

Investment Sense Housing & mortgage round upA mixed bag of housing and mortgage news this week. Two house prices surveys show different results, whilst Barclays launch a new mortgage product aimed at first time buyers and another lender pulls back from the interest-only mortgage market. Are you looking for mortgage advice?...