Leeds Building Society launches new mortgages for first time buyers - Published:15/11/07
Leeds Building civilization has unveiled a host of new mortgage deals, which may be of interest to first time buyers looking to arrange their first mortgageAmong the monetary services provider's new mortgages is a three-year fixed-rate contract, which incorporates a £699 conclusion fee and no higher lending chargeThese mortgages come with lending rates of 579 per cent for up to 90 per cent loan-to-value or 699 per cent for a 100 per cent loan-to-value"We have launched a range of three-year fixed-rate mortgages designed to offer clientele a choice and support first occasion buyers," she saidFirst occasion buyers looking for non-traditional mortgage options may wish to think a long-term mortgage offeringLast month, Nationwide unveiled a 25-year fixed-rate mortgage that may be of interest to customers looking to fix mortgage repayments for a long-drawn-out period of timeThe long-term mortgage features a borrowing rate of 549 per cent, along with financing penalties if the mortgage holder switches contract within the first ten years of the dealToday's Most Popular Results Mortgage Enquiry shape Need Life cover ------ Mortgages - Information Mortgages - Home ------ Financial Services - HomeNone of the in order on this website is intended to promote any specific mortgage manufactured goods or provide mortgage advice Mortgagescouk is a non-regulated trading name of monetary Services Net Ltd[Terms & Conditions]more sites:car cover home insurance |.
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Average home hits £210,000 - Published:12/11/07
The price of possessions leapt by £2,500 in April according to official information which revealed that the average UK home now costs almost £210,000This is cash has been named Financial Website of the Year in recognition of its agitation coverage >> ReadHouse cost inflation picked up during the month having slowed somewhat in March, according to the latest Government figures which lag behind recent studies that have indicated the marketplace may be coolingThe Department of Communities and Local Government supposed April saying the cost of a typical home increased by 12% to stand at £209,454 with yearly house price inflation increasing to 113%London continued to dominate the English property market, with annual inflation of 14% pushing the standard price of a home in the assets above £320,000 Meanwhile, the surge in prices in Northern Ireland sustained, with prices rising 54% over the past year, in spite of warnings of a potential crash over the border in the state of IrelandThe average Northern Irish house now costs £228,208 - almost £12,000 more than the average English house which will set buyers back £216,707Prices in Wales and Scotland increased to £162,170 and £155,516 respectively in April Conditions for unparalleled buyers remain tough, with a monthly trek of 13% meaning new buyers face paying £159,977 to get on the property ladder - with a further £1,600 in stamp responsibility having to be handed over to the taxmannew reports by Nationwide and Halifax have indicated that the property marketplace has begun to cool, with both showing enlargement easing back in MayExperts have said that a combination of affordability evils and concern about further interest rate rises are putting off buyersHoward Archer, chief UK economist at analysts Global imminent, said: 'It does appear overall that the housing market is starting to come off the boil as insist is increasingly pressurised by the increasing affordability pressures stemming from higher interest rates, modest real disposable income enlargement and elevated house prices'Would be nice to know the middle value as well standard could be bumped up by extremely expensive properties in LondonSelect a loan term 12 months (1 day 24 months (2 existence 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 years) 120 months (10 years)Please choose a type of insurance Life insurance Home and contents automobile Breakdown services Health - medical Health - dental journey Pet - dog Pet - cat GOThinking about investing in property This is Money has.
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Is Your Mortgage About To Give You A Shock? - Published:26/10/07
What were you up to, this time two years ago Well separately from being two years younger, if you'd just remortgaged to a fixed rate deal you were probably emotion smug about the size of those journal payments After all, the base speed was a mere 45% back then, and you could easily break up a fixed rate mortgage deal at a speed less than that with a little effortThings are slightly different nowadays -- the base rate is 125% senior at 575% and the Bank of England has hinted it could strike the 6% mark by the end of the year What's more, the current praise crunch crisis is causing uncertainty, with Abbey becoming the first far above the ground Street bank to raise the interest rates on its tracker mortgages for new customers despite the fact the base rate was ice-covered this month Other lenders are likely to follow suitOf course, if you're still paying the rate you remortgaged to two years before, you probably feel quite shielded from all of this as your expenditure have remained relatively low But for how much longer A raft of fixed speed deals are about to expire in the next few months, and if yours is one of them you could soon be facing a shocking hike in your journal paymentsFor example, the best buy, 2day fixed rate deal available two years ago was from Portman BS at 42%APR If you had in use out a £150k, 25 year repayment mortgage at this occasion your journal payments would have been about £817 After two years your outstanding balance would now be £137, 201However, once this deal had expired you'd be put onto Portman's normal variable rate (SVR) of 774%APR This means that your journal payments would increase to a whopping £1079 -- that's a go up of £262 per month Blimey (Sharp readers will have realised that Portman has recently merged with Nationwide BS and should now have reverted to Nationwide's base mortgage speed (currently set at 724%) but even at this slightly lower speed you'd still be paying £1,022 each month (an additional £205)So what can you do Well the answer is simple, remortgage to a cheaper deal As a rule of thumb we think you should start looking into finding one around three months before your rate will expire - this method you should have transferred your loan over in high-quality time (and avoided having to pay your lender's crippling SVR)There are many ways to find a better mortgage deal, and your first port of call is obviously to speak to your lender to find out what it can offer The method I tend to prefer when I need to remortgage is to find a reputable, whole of market and, importantly fee gratis broker to search for deals for me Not only is it far earlier than me trawling the internet etc, brokers also tend to have access to some deals that you or I would not be privy toI checked with our very own Motley Fool Mortgage service and found that the current, best buy, 2-year fixed rate deal obtainable is from Britannia BS, at 549%APR agreement fee of £999) If you were to remortgage to the Britannia contract from the example given above, your payments would become £876 per month, which is at least £146 less than if you had to pay the standard variable (or base mortgage) tax mentionedChances are if you need to remortgage in the next few months your new monthly expenditure will be more than what you're used to -- with interest rates having been raised five era in the last two years there is typically little we can do to avoid this But at least by remortgaging we can take advantage of the best contract available to us, and avoid having to pay our lenders' tear off standard variable ratesSo if your mortgage deal is pending to an end, put on't delay, start looking into your options now And don't not remember to check out our award winning mortgage site, correct here at the Fool Our free mortgage broker service can quickly look for for the best deal for you -- and I should know, I've used it myself© patent 1998-2007, The Motley Fool Limited All rights reserved This fabric is for personal use onlyput of Reg: England & Wales Company Reg No: 3736872 storage bin Reg No: 735 7818 01.
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