Page 2 - Gerard Boon News Today

Consumed by constant money worries: Mortgage prisoners tell of high interest rate woes ahead of debate on landmark law change Mortgage prisoners became stuck in high-interest loans after their lenders collapsed during the 2008 financial crisis, and some pay rates of up to 9%  They say they have suffered poor mental health and family breakdowns  Scores have contacted us to share their stories and urge support for a new law that could see their monthly payments reduced by up to £800

First-time buyers see the return of 5% deposit mortgages: YBS fires starting gun - but should borrowers hold out for lower rates? Yorkshire Building Society is first major lender to reintroduce mortgages for those with 5% deposits, after deals were pulled at the start of the pandemic They are only for first-time buyers and those buying flats are not eligible At least five more lenders are set to launch low-deposit products next month Brokers and agents say buyers may want to hold out for intere...

Our fixed mortgage is coming to an end from April. We have been with the same lender for the last five years and are happy to stick with it as it offers competitive rates were happy with. When we took out the mortgage for our three-bedroom home, it was a 30 year term meaning of course this will be 25 years when we remortgage. However, I have been toying with the idea of reducing this to 20 years when we remortgage, simply to shave off that extra time and pay more off each month, which were comf...

Whatever way you look at it, the property market had an exceptional year in 2020. It went from trundling along quite nicely in the first three months of the year, to a complete three-month shutdown during lockdown - during which time dire predictions were made about a coming crash.  Against the odds, house prices surged after the market re-opened in July, thanks to the Governments stamp duty holiday and lockdown fuelling peoples desire to move.  First-time buyers can once again access 10 per ...