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 ...

Mortgages: How to help your children get onto the housing ladder

New research from HSBC and the Centre for Economics and Business Research (CEBR) has shown that one in five first time buyers needs help from their parents. In fact between 2008 and 2011, 100,000 first time buyers were helped by their parents. Since the credit crunch the number of high loan to value mortgage deals has shrunk significantly, most lenders now require at least a 10% deposit and the best deals are reserved for borrowers with even more to put down. So, if your children are caught in the ‘Catch 22’ of rising rental costs, meaning they can’t afford to save to ...

Housing & mortgage round up: Life still tough for first time buyers, whilst mortgage lending falls

Housing & mortgage round upA number of stories this week confirm just how tough life is for would-be first time buyers wanting to get onto the housing ladder. Rents are rising, so too is the number of people getting into arrears and the amount of deposit required to secure a mortgage is simply unaffordable for many; read on to learn more. Also this week, mortgage lending has fallen again, and is now significantly below the levels of this time last ...