If you’re in negative equity and have to move, what are your options?
It’s estimated that 8% of properties are in negative equity. Can you move?
With house prices being flat in many areas, or having fallen, it’s estimated that over 800,000 households could be in negative equity. If you don’t need to move, negative equity is far less of a problem. But if you’d like to move – or you have to sell up because of your job – what can you do? Here are some options.
Getting the best remortgage deal; fees, charges and rates that matter
If you’re thinking of taking out a mortgage, you need to consider more than just the headline rate.
Interest rates have remained low but the cost of a mortgage (both fixed and tracker deals) has risen recently because the cost of borrowing to the banks have risen. Even so, historically, mortgage rates on some low loan to value deals are pretty competitive. At least, the headline interest rate's appealing.But what about the extra costs you should consider? Here’s a quick rundown of costs, charges and fees that you should look out for if you’re thinking of buying a property or remortgaging.
The FSA has announced new rules for mortgage lenders. What could they mean?
The FSA wants banks to be ‘responsible’ when lending money for mortgages. Sensible or too strict?
In the years leading up to the credit crunch I think most would agree that the banks and building societies lost the plot somewhat when it came to working out how much to lend. Some banks were lending up to seven times salary, while others didn’t seem to flinch about lending money to borrowers who couldn’t prove their income. The financial regulator, the FSA, says that banks must have better checks in place.
