Recent reports have shown that the global credit crunch that has stemmed from the problems with mortgage defaults in the United States could make things extremely difficult for those with patchy credit histories that are looking to take out a mortgage. Many sub-prime lenders have announced that they will be withdrawing their sub-prime mortgages in the UK, with many others stating that they will be pushing up interest rates on sub-prime mortgages by significant amounts, which will mean that those with bad credit will either not be able to get a mortgage or will have to pay through the nose for the privilege. Read the rest of this entry »
Popularity: 56% [?]
A recent report has shown the alarming rate by which mortgage fees have been rising over the past couple of years, with many consumers being hit by extortionate fees on their mortgages. The reports suggest that some mortgage lenders have raised their arrangement fees by as much as 600%, even though the cost of arranging a mortgage has not risen in the past two years. In fact, as some experts point out, computerized systems have made the cost of mortgage arrangements even lower, yet some lender have still raised their fees by enormous amounts. Read the rest of this entry »
Popularity: 58% [?]
Over recent months mortgage exit fees have been at the centre of controversy, with regulators and campaigners questioning why a number of lenders have hiked up the cost of mortgage exit fees by huge amounts – in some cases by 200% over the past few years. Mortgage exit fees have been charged to those closing their mortgage accounts, such as those that have paid off their mortgages and those deciding to remortgage with another lender. Read the rest of this entry »
Popularity: 71% [?]
Over the past year and a half many consumers across the UK have had to struggle with their mortgage repayments, with a series of five interest rate cuts between August 2006 and July 2007 taking up the interest rate by 1.25% and leaving many homeowners facing rocketing repayments that they struggled to meet each month. Read the rest of this entry »
Popularity: 49% [?]