interest only mortgages

Interest-Only Mortgages

Thousands of people with interest-only mortgages expiring this year do not have a repayment plan – putting their homes at serious risk of repossession. 40,000 interest-only mortgages are set to mature in 2016, but experts suggest that only half of these homeowners have the capital in place to repay the loan. And according to the charity Citizen’s Advice Bureau, this is just the tip of the iceberg, with 934,000 interest-only…

The Cost of a Child

It’s official: Raising a child is now more expensive than buying the average house. Average price of a semi-detached house in the UK = £219,255. Cost of raising a child to age 21 in the UK = £231,843. You’ve insured your home, but how do you go about insuring your kids? The breakdown Obviously costs change as children grow up, but from birth to 21, £231,843 equates to a monthly…

the accidential landlord

The Accidental Landlord

European legislation introduced in March 2016 created a new category of Buy to Let lending: Consumer Buy to Let. Its principal aim is to distinguish borrowers who become landlords by accident and therefore require consumer protection, from experienced landlords operating Buy to Let as a business. Unlike an investment Buy to Let, where the landlord is renting a property for business purposes, a consumer Buy to Let might be an…

Raise Money: Downsize To A Smaller Property

Your current home may well be the place where some of your happiest memories were created. Realistically, however, downsizing may be an excellent way of financing many more. Here are some points you should consider on the topic. Why should I downsize my home? Home may be where the heart is, but property has a financial value. There are various schemes which make it possible to release equity in property…