Archive | Interest Rates

Mortgage update for Homeowners looking for better Mortgage deals

For every ten homes sold last month one was a remortgage. Until more mortgages arranged are remortgages each month I very doubt that property prices will drop any further. The reason for the house prices being unreasonably buoyant is due to the fact that for every ten houses sold only six new homes are coming […]

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Is now the right time to take out a new Mortgage and buy a home?

As the editor of talkmoneyblog ,  I am often asked if now is the best time to take on a new mortgage and buy a new home, here are my finance tips. Ask ten people whether they think the time is right to venture back into the property market and you’re likely to get a […]

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Lloyds Banking Group launches new Mortgage Scheme for First-time buyers – Mortgage Advice

First-time buyers are finding themselves in a predicament with falling house prices as the housing market becomes more affordable. Expert opinion is they are being squeezed out of home ownership by the very large deposit they are required to have in order to secure their first mortgage.  Saving up to £25,000 for a deposit takes […]

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The Mortgage interest rate looks to have bottomed out

Money saving Expert says, surely the Bank of England base rate cannot drop any further? They could drop another half a percentage point to zero but there seems little point in reducing interest rates further. The government and the Bank of England have now introduced and started the process of Quantative Easing. They will spend […]

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Rescued Banks charge extortionate rates for personal loans

As a provider of  money saving advice , I can understand banks and finance institutes charging high interest rates to clients that have a less than perfect credit report where they have missed payments, fallen into arrears, been issued with defaults and county court judgements. But it looks like these banks were charging these interest […]

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Cheltenham & Gloucester Tracker Rate Mortgage comes up trumps!

A few weeks ago I was talking with another client who had a tracker rate mortgage with the Cheltenham & Gloucester.  She told me that her tracker mortgage which I had arranged for her on a 1.01% below the base rate had reduced her monthly payments down to 25pence a month on a fairly substantial […]

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Mortgage Borrower buy’s Schnoodle with money saved on low interest rates

Buying a Schnoodle I was talking with some clients last night and they happened to mention how they had more money at the end of each month since the interest rate had dropped from 5% to ½ %.  As a money saving expert I wanted to know what they were doing with their new found […]

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Britain last saw zero inflation in1960!

Inflation has fallen to its lowest rate since 1960 and now stands at 0%. The inflation rate is calculated from the prices of a range of different goods and services selected to represent average spending patterns in the UK. There are two different methods of calculating inflation The retail prices index (RPI) is intended to […]

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Market leading tracker rate mortgage is finally released

Mortgage lenders do actually want to offer borrowers the best mortgage deal or the best remortgage deal but they are restricted by the lack of money in the system at present. The banks immediate instinct is survival at the moment and their need to protect their capital base by not lending money or only lending […]

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The more the Government spends the shorter the recession – Money Expert

In today’s climate of recession meltdown it is difficult not to scaremonger or upset anyone when analysing the world around us, the consequences to each of us and the impact of the debt our children might one day inherit. Are the changes that have been implemented by the government and the Bank of England really […]

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Home buying is at the lowest level for 34 years

The Council of Mortgage Lenders says that in 2008 there were 46% fewer first-time buyers than in 2007. Those first-time buyers that did get on the housing market were reported to have put down a 22% deposit on their new home. Estate Agents and Mortgage brokers would like to forget 2008 as it was probably […]

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Deepest recession for Twenty Years – Stop reducing Interest rate!

The Bank of England’s interest base rate is expected to reach an all time low of 1% later today. The current rate of 1 ½ % is the lowest level of interest base rate ever seen in 315 years since it was established in 1694. This is dreadful news for savers but great news for […]

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Northern Rock told by Government to start lending again for mortgages!

The Northern Rock was granted emergency financial support from the Bank of England on September 2007. Northern Rock under government control then announced in 2007 that they would not remortgage their existing mortgage borrowers to a new remortgage product.  In fact the Northern Rock was informing their mortgage borrowers to remortgage to another mortgage lender […]

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Mortgage gloom set to continue through 2009

In the last two months I have seen nine clients all wishing to remortgage their homes. Some of my clients are at the end of a mortgage deal, others are looking to consolidate their expensive secured loans, unsecured loans and credit card debts into an affordable mortgage deal. Whilst some clients are looking for a […]

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