Category Archives: Mortgages

mortgages-for-older-people

Are mortgages for the over 60s and mortgages for pensioners a thing of the past?

Mortgages for over 60s and mortgages for older people are becoming increasingly harder to obtain.

Following the introduction of the Mortgage Market Review (MMR) some lenders have started to apply strict age limits on their mortgage lending.

mortgage-deposit-source

Will a mortgage lender check where my deposit has come from?

After many years of what some would call ‘crazy’ mortgage lending before the financial crash, mortgage markets now seem to have returned to more normal standards when it comes to lending criteria and mortgage deposits.

mortgage-prisoner

Mortgage Prisoners: what’s all the fuss about?

The term mortgage prisoners has been bandied about quite a lot in recent months due to the Mortgage Market Review (a new set of rules for the mortgage market) which were brought in to force in April 2014. The reason the story is still making headlines is because the true ramifications of these news rules are only just starting to be felt by home-owners up and down the country.

mortgage-market-review

The Mortgage Market Review and how you can prepare for it

If you live in the UK, then you may or may not be aware of the mortgage market review.  A comprehensive review of the UK mortgage market state conducted by what is now the Financial Conduct Authority (FCA) designed to ensure the sustainability of the mortgage market, the MMR led to a number of changes in the mortgage process, all of which came into effect on April 26th.  Today, we’re going to look at the main changes made, and how they can impact your chances of getting a mortgage:

What are the main changes?

house in palm of hands

Should I Get a Mortgage?

Debt in general has caused no end of grief for a large chunk of the population. Easy credit and the constant bombardment of television and internet advertising all combined over the last decade to create the perfect storm for consumers who either weren’t aware – or chose to ignore – the potential dangers lurking down the road. Due to the lessons learned from this crisis many people seem to have developed a mentality that all debt is bad and should be avoided at all costs. While this fear of debt is no bad thing, it has also led some people to ask themselves ‘Should I get a mortgage?’. Should mortgage debt be placed in the same bracket as consumer debt? Or is mortgage debt acceptable debt?