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Author Archives: Peter Lenga
← Older postsCan equity release help to pay off interest-only loans
Older homeowners with interest-only mortgages can find themselves in a situation where they are unable to repay their loans at the end of the term, now have more options available to them which could help them to stay in their homes.
Right to Buy – Mortgages upto 100% available
The extension of the Right to Buy scheme that will include Housing Association tenants Who is eligible? Before 2015 it was only council tenants who had the right to buy the homes they had previously rented, but housing association tenants … Continue reading
What is meant Interest rate stress tests
Understanding what is a stress test, why BTL lenders use them A stress test is the calculation lenders use to determine how much they will lend to the borrower. Here is an explanation of how it is calculated, why it … Continue reading
Understanding the new Buy to Let Rules
How will they affect you… I’m sure you would agree there has been a lot of News about the new btl rules. Many of the Lenders in the marketplace have now released their approach to the new rules and not … Continue reading
More homeowners use equity release to increase income in 2016
The amount of equity released by homeowners from their properties in 2016 was up almost a third (30%) on 2015, with an average loan size of almost £60,000 (£59,887), according to Responsible Equity Release data. Its research shows that more … Continue reading
Prefabricated Houses – Can they be Mortgaged?
Their growing popularity of prefabricated housing, especially among thirtysomethings, demonstrates that prefab housing could be a future alternative to bricks and mortar. The technical difficulties with mortgage lenders often prove to be a barrier to people wanting to buy homes … Continue reading
Prefabricated housing to help the housing problem
Ministers are planning a new wave of 100,000 prefab ‘modular homes’ in an attempt to solve the housing crisis. The scheme’s aim is to help the Government hit its ambitious housing target of building 1 million houses by 2020. It … Continue reading
Bank of England holds bank rate
The Bank of England’s Monetary Policy Committee has voted unanimously to maintain Bank Rate at 0.25%. However the MPC now expects inflation to rise to the 2% target within six months – quicker than expected – after rising to 1.2% … Continue reading
Are the rates are good value for Equity Release mortgages
Lifetime mortgage interest rates have fallen to a record low level in the months following the Brexit vote, according to Legal & General. The provider’s flexible lifetime mortgage product now offers an interest rate of 3.71%, compared to 5.19% in … Continue reading
The 55+ Mortgage: a flexible way to borrow into retirement
New 55+ Mortgage – a massive shot in the arm for the mature borrower market If you thought you were too old to get a mortgage, the 55+ mortgage from retirement specialist Hodge Lifetime could provide the solution to your … Continue reading