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| The Citizen’s Advice Bureaux has conducted research into lending to self-certified mortgage applicants and finds that many are now having serious trouble keeping up their repayments. |
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| The number of residential landlords selling their properties is at a three year high, as many try to cash in their properties at the height of the market, according the Royal Institution of Chartered Surveyors. Landlords are also deserting the market due to a significant drop in the yields on flats as that area of the market suffers from over-supply, concerns on interest rates, and restrictions on lending from cautious financial institutions. Despite the fact that capital gains tax on properties will be reduced next April, a significant number are selling now, perhaps pre-empting... |
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| A mortgage is a method of using property as security for raising a loan to pay off a debt or to meet some personal obligation. Most of us have used this method to raise money during some stage in our lives. However, when it comes to paying off a mortgage and when someone is unable to repay the monthly installment due to some constraint, lenders will impose a charge. In this article, we will look at Mortgage Exit Fees, Mortgage arrears charges and the actual cost to the lender compared to what they charge customers. In essence the key focus is on whether the charge is unfair. What many mortgage victims want to know is how the charges can be claimed back. |
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| Although in the past switching to fixed rate or discounted mortgages every two or three years made financial sense, experts are now saying that this is no longer the case, and that borrowers would now be better advised to take out long-term mortgages. |
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| UK housing experts estimate that over 1.4 million homeowners are facing potential mortgage payment hikes of up to 60% once their current cheap fixed rate mortgage deals end. The Council of Mortgage Lenders estimates that 1.4 million homeowners nearing the end of their cheap fixed-rate mortgages taken out before five interest rate rises, will be in for a shock when they find out how much they will need to pay once their deal expires. |
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| People are starting to get concerned about the potential of falling house prices and rather than move they are looking to stay in their own property and improve their own financial security at the same time. |
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| Many people opt for an interest only mortgage for one simple reason - it's the cheapest option. You can't blame people for choosing the 'lowest' cost option, can you? So how does an interest only mortgage work in comparison to the other option of a capital repayment loan? |
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| There has been a shift in the nature of Britain’s debts, an industry expert has asserted. According to Chris Tapp, deputy director of Credit Action, consumers have previously often struggled to make repayments on personal loans and other forms of unsecured borrowing. However, it was suggested that evermore people are beginning to experience difficulties in meeting demands for payments on mortgages. |
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UK Citizens Need To Be 'Tax Savvy' With Their Finances
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