The City regulator is planning a change of rules that could lower the housing costs of thousands of so-called "mortgage prisoners".
Leveraged loans are ringing alarm bells for regulators who fear a repeat of 2008’s mortgage disaster
Loans lasting up to 40 years can leave buyers unable to save for pension, say regulators
More young people are opting to overpay, cutting the term of their house or flat loan
Cheaper mortgage deals are keeping buyers interested despite Brexit uncertainty, housebuilder Taylor Wimpey said on Wednesday.
Almost a third of current mortgage holders in Britain, equating to four million people, may have to re-evaluate their finances in later life as their estimated repayment age will be older than they expected.
Figures for November for UK Finance show number of home loans approved dropped by 10.6% year-on-year during November.
The vast majority, some 81%, of people in Britain think that their mortgage providers quietly hope they will slip onto their Standard Variable Rate (SVR) at the end of their fixed rate period.
The number of mortgages approved in the UK in November was flat compared to the previous month, but a competitive remortgage and first-time buyer market meant activity was actually up compared to the same point a year ago.
A competitive market in 2018 means that remortgaging has reached its highest rate for a decade as home owners have had access to a range of deals.
There are 14,000 more households in arrears today than in 2008.
Repossession rates have dropped but could rise if interest rates go up.
Watchdog finds those in arrears are not getting enough support from the banks.
Home owners in the UK who find themselves in arrears should contact their lender sooner rather than later but those providing mortgages could manage some situations better, according to the financial watchdog.
The rental income received by 79% of landlords with mortgages is only sufficient to service the interest element of their loans, and not pay down their debts, as they contend with rising costs, according to new research.
Mortgage lenders are failing to support some vulnerable people who have fallen behind on their repayments, the financial watchdog has said.
More than a third of landlords in the UK’s private rented sector rely on brokers to help them find the best mortgage for buying a property to let, new research has found.
The mortgage market in the UK is slowing with brokers see the largest drop in business volumes in more than two years, with the trend being put down to Brexit uncertainty.
Residential mortgage markets in the UK outside of England remained steady in the third quarter of 2018, according to the latest market trends report from UK Finance.
Darlington launches loan aimed at professionals in wake of Clydesdale’s ‘monster’ offer
Millions of home owners in the UK believe that they could still be paying off their mortgage when they are beyond retirement age, new research has found.
More first time buyers are getting on the housing ladder in London, reaching their highest level in three years with new mortgage numbers up in the third quarter of 2018, new figures show.
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