Mortgages. The Pitfall Of Interest Only Mortgages.

In the first three months of 2002, just 9% of all new mortgages were taken as interest only – but by the last quarter of 2005, the figure had risen to 23%. And amongst first time buyers, the figures rose from 6% to 15%. (Source: Council of Mortgage Lenders.)

The reason is obvious. It’s down to family economics. With an interest only mortgage, the monthly repayments only repay the ongoing interest so your monthly repayment is low. Repayment of the capital borrowed is delaye…

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Mortgages. Short Term Advice

There are some new types of home loans coming onto the market which are being advertised at present. Several of the mortgage companies are offering variation of them and they are being marketed as �lifetime� loans. So might this be the end of the short-term mortgage? Not necessarily so, it appears that there are still bargains out there for those prepared to shop around.

Mortgage brokers usually advise discounted short term mortgages and advise clients to regularly shop ar…

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House Prices Set For Greater Regional Variation

The growth of English house prices is slowing. In contrast, both Scottish and Northern Irish house prices are heading for boom periods, according to new figures.

Nationwide predicts that house prices in Scotland and Northern Ireland are set to become increasingly dislocated from trends in England and Wales, as the countries have witnessed far faster house price growth over the year, increasing the need for larger mortgages.

House prices in Northern Ireland rose five tim…

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