Archive for the ‘Houses and Mortgages’ Category

TweetShareAverage property prices in the south east are set to rise to £322,000 by 2011 according to Oxford Economic Forecasting, an increase of 40 per cent. Derek Cash, head of south region at the National Housing Federation, said: “Our projections may seem like good news for current homeowners in the region, but they actually spell [...]

TweetShareAccording to moneysupermarket.com, Britons are in a £35 billion “trap” already as they extend the term of their mortgage, increasing the probability of repaying this debt as a pensioner. Louise Cuming, head of mortgages at moneysupermarket.com, said: “It is clear that extending the mortgage term is a short-sighted solution which has a long-lasting impact. Not [...]

TweetShareCitizens Advice figures show that 770,000 Britons missed repayments as they failed to properly manage their debt. “We are very concerned about the numbers of people who are missing payments,” said Citizens Advice chief executive David Harker. “Missing payments on mortgages or secured loans could lead to arrears and possibly repossession.” Last month financial experts [...]

TweetShareRay Boulger, of independent mortgage broker Jon Charcol, said that only the most self-disciplined should take out such a mortgage as it was easy to end up with large debt. Commenting on the amount of people getting their first home on top of student debt, Mr Boulger asked BBC Radio Five Live: “The question is [...]