We have reported recently on how the Financial Services Authority (FSA) is planning to place a complete ban on self certification loans and fast track mortgage applications, whereby a borrower does not need to provide evidence of their income. Under the new proposals, a borrower would have to be able to provide proof of their [...]
There have always been issues over levels of fraud being committed when it comes to applying for a loan and a home owner loan or mortgage in particular. This can range from a potential borrower simply overstating their income in order to be accepted for a loan, right through to falsifying documents and even more [...]
Despite the fact that activity in the home owner loan and mortgage markets is particularly slow at the moment and that first time buyers are having extreme difficulty in obtaining the loan they require in order to buy their first home, the average cost of a typical home owner loan is now at its most [...]
Since the Bank of England reduced the base rate of interest on savings and loans to its lowest ever level in the history of the bank, of just 0.5 per cent, a large percentage of borrowers with a home owner loan on a variable rate loan deal, have seen their repayments fall significantly as lenders [...]
Equity release loans, or lifetime mortgages have been around now for many years and can be used for a wide range of purposes, from enhancing income in retirement, paying off existing loans and other debts, buying a holiday home, or helping family with a deposit for a new house, just as a few examples.
One provider [...]
We reported recently that the Financial Services Authority (FSA) was planning to introduce new regulations which banned certain types of loans and introduced rules for previously unregulated products such as secured loans.
The first discussion paper for the Mortgage Market Review (MMR) as it is known, outlined the initial proposals for the additional regulation of home [...]
The secured loan market has been hit severely by the credit crunch and banking crisis over the course of the past couple of years, which has lead to the introduction of much tighter lending criteria from lenders and a greatly reduced choice of loan product for those looking for a secured loan.
One of the main [...]
