News: Homeowners Are Feeling The Pinch - Published:15/11/07
Families with mortgages are feeling the pinch of five new rate rises, and are borrowing and economy less as a result, a new survey has foundThe latest ‘borrowing check' from Alliance & Leicester, which quizzed 2,245 people, has revealed that many mortgage borrowers are under strain as better interest payments take a sizeable chunk out of family incomesSavings in Britain reached a evidence low in the first quarter of the year, with people squirreling away now 21% of their incomesThose with mortgages are typically saving the least of all -- less than half (48%) as much money as those without themThis difference is also apparent when looking at borrowing unrelated to mortgages Unsecured borrowing in the UK has been growing at its slowest speed on record this year -- and mortgage borrowers have become particularly reluctant to take out such loansIn fact, by the second district of this year, the borrowings of households with mortgages actually cut down, even though the overall marketplace continued to see some growthCredit card use is a clear example of this In the next quarter of 2007, mortgage borrowers slash their credit card balances at twice the pace of the overall credit card marketAlliance & Leicester's Sean Murphy said that although average interest tax on unsecured borrowings have in fact fallen over the last 12 months, this has not been enough to tempt mortgage borrowers to take on more unsecured debt"Their relations budgets have been under pressure and they have cut their cloth so", he addedThe pressure on homeowners will effortlessness slightly if and when interest rates come down from the present level of 575% Many economists now believe the next move will be down rather than up -- but it may not happen for a whileA recent Reuters poll of 56 economists indicated that the bureaucrat rate will remain unaffected until the end of the year, falling to 55 percent in the first quarter of 2008 and to 525 percent between April and JuneMore: The Credit Card Mortgage Trap | The Incredible Shrinking Mortgage Market | How Remortgaging Saved Me Money© Copyright 1998-2007, The Motley trick Limited All human rights reserved This material is for personal use onlyPlace of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01 Registered place of work: 30 Great.
Read More:
News: Homeowners Are Feeling The Pinch >>
New mortgage offerings from Alliance & Leicester - Published:27/09/07
Alliance &Leicester has launched a novel range of prime mortgages that includes a two-year reduction offer that comes with an interest speed of 555 per centThe two-year discount mortgage offering will have this interest rate fixed until the end of September 2009, when it will revert to the standard changeable rate that at present stands at 789 per centBorrowers can take out the 95 per cent loan-to-value mortgage up to a maximum amount of £250,000Other novel mortgage offerings from Alliance &Leicester comprise a two-year base rate tracker mortgage that has a rate of 544 per cent set until September 30th 2009, after which it will track the Bank of England interest rate +099 per centA third product, the near to the ground start two-year fixed-rate mortgage, is available up to a maximum loan amount of £999,999 and has an interest rate of 534 per cent until the end of September 2009After this day, the mortgage will remain 074 per cent above the base speed for a year before reverting to the mortgage lender's normal variable interest rate skull of mortgages at Alliance &Leicester Richard Taylor said the new mortgage deals are right to those looking for the security of set interest rates or the flexibility afforded by "a highly competitive variable rate "He additional: "As always our mortgages offer huge value for money and great choice to both novel and existing customers"Alliance &Leicester has an online mortgage calculator that possible mortgage customers can use to estimate how much they can borrow novel mortgage offerings from coalition & LeicesterNone of the information on this website is intended to endorse any specific mortgage product or provide mortgage adviceThe sphere, with image, it's reflection and Mortgagescouk are.
Read More:
New Mortgage Offerings From Alliance & Leicester >>
interest rates stay at 4.75 per cent - Published:07/12/06
The Bank of England's monetary policy group (MPC) has kept interest rates on hold at 475 per cent at its periodical rate-setting meetingBefore today's announcement, financial experts had not been clever to decide whether the MPC would yield to inflationary pressure by raising rates for the moment time in 14 monthsHowever, in recent days the pressure to add to rates may have been eased by getting better consumer confidence, falling energy prices and lowering estimates of nationwide growthAccording to Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, given a "buoyant" economy and above-target inflation, interest tax would rise to five per cent before the end of 2006Mr Yousefi said that the predicted speed rise should encourage first-time buyers on a taut budget to obtain a fixed-rate mortgage to "secure" themselves against speed rises"For those homeowners who are able to be more flexible with their finances, there are still many competitive tracker deals on the market," he addedTerms of employ Advertising Resources Product guides push releases.
Read More:
Interest Rates Stay At 4.75 Per Cent >>
