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First Time Buyers in London Save For Record 18 Years 5 Months For Deposit

UK first-time buyers are increasingly searching for properties they believe are a good investment and are saving for a deposit by using high interest savings accounts a study has shown.

House Asking Prices Rise as Mortgage Lending Remains Subdued

New research from Rightmove appears to indicate that house prices are on the increase. Asking prices rose 3.5 percent in September and new vendors ask an average £8,310 extra- this is the largest rise in 8 months.

Funding For Lending Scheme Relaxed Rules

The FCA has recently announced rules which will allow banks to hold less capital reserves and a broader variety of assets in their capital buffers. The reserves protect banks from over-lending and the greater flexibility will allow lenders participating in the scheme to grant a greater volume of finance including residential mortgages.

Barrister Mortgages and Maternity Leave

The first female was called to the Bar in 1922, only 90 years ago and the number of women practicing in the last two decades has significantly increased. Women are conquering the legal profession, but there is evidence, there has been far less success in the financial world. This is particularly so, when considering the issue of maternity leave. Barristers seeking barrister mortgages are treated like any other self-employed person, but whilst the impact of maternity leave on all women looking for mortgages is significant, the impact on a Barrister can be hugely problematic.

Home Mortgage Finance available for Gardeners, but little if you work for the Queen?

As mortgages remain assessed on the basis of affordability and suitability working for Her Majesty the Queen, tending to the beautiful gardens of Buckingham Palace unfortunately is unlikely  to secure you very much home mortgage finance.

As Cost of Living Rises – Mortgages Rates Begin to Fall

British Gas is the latest company to announce price rises this week adding to the cost of living and putting even more pressure on tight family budgets. However, on the flip side, mortgage rates are starting to fall (albeit if you have a reasonable deposit) – offering some consumers an opportunity to save money.

Home Mortgage Loan Decisions may depend on your name – Good news Helen and Brian?

Many home mortgage loan lenders have developed automated processes for lending decisions and these include both assessment of credit scoring and now consumer profiling. It may be that a solicitor living in London, fairs better than one living in Swansea, but advanced consumer metrics now allow certain lenders to look at the creditworthiness of a solicitor aged 30, with 2 dependants, twins aged 5, working for 7 years, against other people’s creditworthiness of the same factors. You may be okay, but generally other applicants in the legal profession, in your area with kids, aged 30 - may not!

Mortgages with NT tax code – Sub Postmasters, the biggest challenge for mortgage brokers?

Sub postmasters operate 97% of the national post office network and whilst the Post Office themselves offer mortgages via rebranding some products through Bank of Ireland, it can be very difficult for sub postmasters themselves, to obtain mortgage finance.

Equity Release – is it a solution for everyone?

It is widely believed that as the lack of pension provision and other economic factors begin to bite over coming years the market for pensioners mortgage and Equity Release advice will grow significantly. A recent study estimated that some 800,000 of today’s over-65s would be interested in using equity release to raise money in retirement. Yet only 17,000 plans were completed last year.

Tory Conference says “No To Tax The Rich”

The Conservative Party Conference opened yesterday amid calls from the Lib Dems for the Tories not to drop the “Mansion Tax” Both the Chancellor George Osborne and the Prime Minister have made clear they have no appetite to introduce the tax although do state they have plans to tax the more well off.

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