Archive for the ‘Property News’ Category

Concerns over the funding gap

Wednesday, June 16th, 2010

Mortgage market remains stuck in the doldrums

Mortgage lenders have warned once more of the funding gap they face which may impact on the property market for years to come. The Council of Mortgage Lenders (CML) revealed gross lending in the first three months of this year was the lowest since early 2000. While house prices may be rising rapidly in some areas, gross lending of £29.5bn is down 9 per cent on the same period a year ago.
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Fixed-rate mortgages

Wednesday, June 16th, 2010

Guaranteeing your monthly repayments

With a fixed-rate mortgage, you have the guarantee that your monthly repayments will not change for a set period of time, most commonly 1, 2 or 5 years although other fixed terms are available. However, if you choose a variable rate mortgage your repayments could change. There are two types: tracker mortgages are linked to the Bank of England base rate. Discounted mortgages are linked to the lender’s standard variable rate (SVR). Changes to the SVR are at the lender’s discretion.
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