In the last year, more than three quarters of a million people have missed one or more mortgage payments. So says the national charity, Citizens Advice which is concerned that rising inflation is likely to lead to further rate increases thus exacerbating the situation. After all, missed mortgage payments ultimately lead to repossession.
Tag: Mortgages
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Motley Fool: Are We Deliberately Driven To Bankruptcy?
Oooh conspiracy! Is it possible that the government has a deliberate policy of encouraging people to spend more than they earn? The signs could certainly be explained in that way. They’ve allowed mortgage companies to gradually relax their lending criteria in all sorts of ways, they don’t force lenders to assess income before they provide unsecured loans or credit cards and, in 2004, they relaxed the bankruptcy laws so that people can wipe clean their debts and be discharged from bankruptcy in just three to twelve months. You could even argue that the government’s failure to educate people about saving, investing and the dangers of debt is all part of the master plan.
MoneyExpert: Further Interest Rate Rise Looms
The odds on a further rise in interest rates sooner rather than later have shortened following new figures from the Office for National Statistics (ONS).
MoneyExpert: Desperate Renters Gang Together To Bridge Affordability Gap
Desperate first-time buyers are increasingly clubbing together to get the financial clout to get onto the property ladder, claims a new HSBC report.
Motley Fool: Fine Times Are Here To Stay!
I’m delighted to see that the Financial Service Authority (FSA) is taking its role as financial watchdog and defender of the public seriously.
Family Finance: Mortgage Options €“ More To Choose From
Author: Catriona Singfield
Searching for mortgage information these days has never been easier – if all you are looking for is another advert promising you the best, simplest, cheapest, most wonderful product ever! How do you unravel the meaning from all these fantastic claims?
Not to worry – help is at hand! Here we sort out […]
MoneyExpert: Mortgage 2000 Announces Two-year Tracker For Remortgagers
The Mortgage 2000 club has announced the launch of a two-year tracker rate mortgage tailored to meet the needs of remortgagers, particularly those hoping to raise capital.
MoneyExpert: MPC Decides Against Further Rate Surprises
Interest rates will remain at 4.75 per cent for at least another month, the Bank of England’s Monetary Policy Committee (lowercase – DN style) (MPC) has announced.
Motley Fool: Nearly Too Late For Your Mortgage
As I wrote in Start Late, Finish Rich, there are no miracle answers for people who are starting late with a small or non-existent retirement pot. However, it could be even worse if you don’t expect to fully own your home by the time you retire. This is not a pleasant subject which is possibly why I’ve never seen an article on it before. You shouldn’t despair though; the earlier you get around to sorting this out, the better off you should be in your later years.
MoneyExpert: FSA Issues £56,000 PPI Mis-selling Fine
The financial Services Authority (FSA) has taken its first action against a lender over complaints relating to the sale of payment protection insurance (PPI).