Retirement mortgages are starting to appear on the market as the Treasury is set to give its backing after saying there is “considerable merit” in helping the elderly keep their homes. Standard repayment mortgages require homeowners to build up equity but these new retirement mortgages will only require the interest on the loan to be …
New ‘Pensioner Mortgages’ to receive Treasury backing Read More »
1. Late payments Late payments will be flagged up to potential lenders. Whilst a single late payment should not have significant impact a build up of consistent late payments could result in future credit applications being declined. 2. Payment arrears If you have a growing number of outstanding payments this could significantly affect your credit …
Things that might be affecting your credit rating Read More »
Your credit report is like a CV of your borrowing history that gets updated on your behalf. It exists to show potential lenders, employers, landlords and occasionally insurance providers, an accurate representation of how you’ve dealt with borrowing/repaying money in the past and managing your credit agreements. Information is recorded depending on your actions and …
How to remove negative markers on your credit report Read More »
An offset mortgage delivers a tax-free savings return by setting your savings and current account against your mortgage debt. As you only pay interest on the balance, the savings pot that you put in effectively earns a return equivalent to the mortgage rate. When it comes to hunting down a good savings rate, it may …
What is an offset mortgage and what are the benefits? Read More »
There has been a significant rise in the number of homeowners tapping into property wealth through equity release schemes. The final three months of 2017 broke a number of records relating to the equity release market and in all £3.06bn was withrdawn by 67,000 homeowners. This figure has risen from £2.15bn in 2016 and £1.6bn …
Babyboomers release cash from homes in record numbers Read More »
