Archive for January, 2010

TweetShareConsumer watchdog Which? has responded to the recently-outlined proposals by the Financial Services Authority (FSA) indicating that those in mortgage arrears will be treated more equitably by industry practitioners. Chief executive with the company Peter Vicary-Smith welcomed the move, saying that the firm is “pleased” with the FSA’s decision to “at last take action”. “It’s [...]

TweetShareRecently-published figures revealing a 20 per cent drop in the amount of money spent on mortgage repayments each month between 2008 and 2009 has prompted one industry expert to ask whether people should be saving this extra cash or settling debts. David Kuo, director of The Motley Fool – a firm dedicated to changing attitudes [...]

TweetShareElderly people struggling with debt management issues may like to make use of a new equity release scheme being piloted by Just Retirement and the Joseph Rowntree Foundation. It is to be brought into the London districts of Maidstone, Islington, Chelsea and Kensington, aimed at over-65s keen to release cash from their properties. Andrea Rozario, [...]

TweetShareThose considering taking out homeowner loans may be buoyed by the news that mortgages are becoming more affordable. This is according to the latest survey from Woolwich, the mortgage arm of Barclays, which found that the average monthly payment is now £497, a drop from £607 recorded in December 2008. Head of mortgages at Barclays [...]

TweetShareThe suggestions set forth by the Financial Services Authority (FSA) to better protect those with mortgage arrears have been described as “very reasonable” by an industry expert. According to Ray Boulger, senior technical manager at John Charcol, the proposals from the organisation – that monthly charges will not be permitted if repayment schedules are in [...]