Despite the fact that house prices are expected to fall in 2018 there has been a steady increase in mortgage applications. In 2016, 312,500 new mortgages were issued to first-time buyers – an incredible 69% above the level seen in 2008. Many buy for security. Owning a house is more than an investment, it’s a […]
House prices might be falling but we’re still happy to buy Read More »
Ombudsman Services is a multi-sector organisation that provides dispute resolution services for sectors including communications, energy and copyright licensing sectors. The organisation says it will work with charities, consumer groups, property professionals and the public on a report that looks at the creation of a single housing ombudsman. Ombudsman Services chief ombudsman Lewis Shand Smith
New figures show that £3bn of cash was taken out of British properties in a year for the very first time. Data from the Equity Release Council shows around 37,000 people used equity release plans for the first time. Equity release was once seen as a last resort but with booming house prices and the
Babyboomers release cash from homes in record numbers Read More »
One in three over-65s plan to make sure their home is ‘retirement ready’, according to new research from Key Retirement. Installing a downstairs bathroom, adding handrails and even having chair lifts put in are common changes being made to many homes in preparation for later life. Making these changes however is not cheap. One in
Over-65s spend on average £10,400 on home improvements for retirement Read More »
We are living longer, healthier and more active lives nowadays and some of us work well past 65 seeing as employers can’t discriminate on age anymore. Figures from the Council of Mortgage Lenders show that in 2030 there are expected to be around 10 million more people aged 65 or over than now – but
Increasing numbers of older homeowners are using equity release schemes to release tax-free cash from their properties. The equity released from your property using one of these schemes is tax free. However, if you go to invest that money or put it into a savings account, you may have to pay tax on any growth.
Millions of Britons are still paying money every month into a basic type of insurance called an over-50s life plan, despite the fact they are known for being expensive for what they provide. New research suggests that people could be paying double what they need to and that traditional insurance policies may be the better
Millions of over-50s could be 'paying too much' for life insurance Read More »
Looming interest-rate rises and a stagnant housing market mean first-time buyers could end up trapped and paying some of the highest mortgage rates experts have warned. Those most at most risk are borrowers setting out today with small deposits. Rates available for those with 10pc equity are far better than rates available for those with
Current mortgage deals could be 'dangerous' as house prices weaken and rates rise Read More »
The number of homeowners opting for a variable rate when they remortgage has dropped 75 per cent over the past year. It might seem an odd move with interest rates where they are currently but there are still some reasons why borrowers would take out a mortgage that could rise rather than a fixed-rate. There
Is a tracker mortgage a good idea if interest rates are set to go up in 2018? Read More »
Not EVERYONE needs life insurance. But, if your children, partner or other relatives depend on your income to cover the mortgage or other living expenses, then life insurance can be very important. There are two main types of life insurance: Term life insurance policies: Run for a fixed period of time – such as 5,