17/12/2008 by bill.

Most of the major lenders have cut the interest charged on their variable and tracker mortgages over the past few weeks, but first time buyers will find that many the number of mortgage deals available are much fewer than before interest rates started to fall.

We always recommend seeking expert advice in selecting the most appropriate mortgage for your circumstances and to identify the most affordable option for you. This is particularly important for first time buyers. Click here for more information about selecting a mortgage.

moneyjungle.net does not offer financial advice but we will connect you with an impartial, FSA qualified adviser.

Just complete this simple form and an adviser will call you back to discuss mortgage options tailored to your needs.

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07/11/2008 by bill.

Some of the big mortgage lenders have cut their variable mortgage rates by 1.5% following the cut in the Bank of England Lending rate earlier this week.

Lloyds TSB, RBS/NatWest, Northern Rock, HBOS, Abbey and Nationwide have announced that they will pass the cut in full on to borrowers. A borrower with a £150,000 repayment mortgage will see their repayments fall by around £138 a month.

Anyone looking for a mortgage should compare available rates before applying for a mortgage or consult an independent mortgage broker. The moneyjungle mortgage finder facility can help you find an idependent FSA approved broker.

Posted in Mortgages, Interest rates | Print | No Comments »

05/11/2008 by bill.

The Abbey is the latest bank to increase some of its mortgage rates despite falling Bank of England lending rates.

Anyone looking for a new mortgage or to remortgage should always shop around to find the best deals and it is best to seek advice from an independent mortgage broker.

We recommend seeking expert advice in selecting the most appropriate mortgage for your circumstances. moneyjungle.net does not offer individual dvice but we can connect you with an impartial, FSA qualified adviser.

Click here and complete a simple form and an adviser will call you back to discuss mortgage options tailored to your needs.

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02/09/2008 by bill.

The Government today announced a package of measures designed to help first time buyers struggling to get onto the housing ladder, support vulnerable homeowners at risk of repossession, and support the house-building industry.

In more detail the package comprises:

1. Mortgage Rescue

A £200 million mortgage rescue scheme being announced tomorrow is aimed at helping up to 6,000 of the most vulnerable families avoid repossession. This will not help those who have acted recklessly or irresponsibly. It is firmly targeted on those families who can no longer afford their repayments, and who would be eligible for homelessness assistance.

Local authorities will have a major role in this scheme assessing applications. Depending on their specific circumstances, eligible home owners will be offered one of three options:

Shared ownership: a registered social landlord buys a share (enabling the purchaser to pay off some of their mortgage) and coverts the property to shared ownership by issuing a shared ownership lease.

Shared equity: a registered social landlord provides an equity loan enabling the householders mortgage payments to be reduced.

Sale and rent back: a registered social landlord (RSL) clears the secured debt completely and the applicant pays rent to the RSL at a level they can afford.

The level of support the RSL will offer depends on the assessment of the individual’s circumstances, which will include a review by a money adviser.

2. HomeBuy Direct

A £300 million scheme which will help up to 10 000 first time buyers into affordable homeownership over the next two years.

HomeBuy Direct will give eligible first time buyers keen to own a place of their own the chance to buy some newly built properties. Buyers will be offered an equity loan of up to thirty per cent of the value, co-funded by the government and the developer, free of charge for five years. As with other HomeBuy schemes, any first-time buyers whose household income is under £60 000 will be able to apply.

Not only will this help first time buyers, but it will also support the industry by identifying buyers for their new homes. This will help the housebuilding industry weather difficult conditions, so that, when the market recovers, they are ready to expand and get back on with building the new homes the country needs for the long term.

The Home Buy Direct scheme will be welcomed by those unable to get on the housing ladder and should also help house builders. The mortgage rescue scheme may be more controversial, if it helps people who find themselves in difficulty having bought homes or taken out mortgages they couldn’t really afford. Hence the Government assurances that it is not for those who find themselves in difficulties having acted irresponsibly.

In a further announcement today, the Chancellor announced a freeze on stamp duty for properties up to £175,000. This seems like a bit of a knee jerk reaction to pressure from house builders, estate agents and others who have been calling for a freeze on stamp duty for properties costing up to the £250,000 threshold or even a total freeze. The number of home buyers benefiting will be limited and it is unlikely to make much difference to affordability. Currently the stamp duty is 1% for properties up to £250,000. It seems likely that,in the current market, most sellers would be willing to Knock the selling price of a £175,000 home down by £1,750!

For more information for homebuyers see moneyjungle.net

Click here for advice on finding the right mortgage.

Posted in buying a home, Mortgages, Property | Print | 2 Comments »

18/04/2008 by bill.

The credit crunch has resulted in mortgage lenders tightening their lending criteria. This both makes it difficult for some people to get a mortgage for a first time purchase and means that existing borrowers reaching the end of fixed rate deals face incresaed repayments.

Whether applying for a mortgage for the first time or remortgaging, we recommend seeking expert advice in selecting the most appropriate mortgage for your circumstances. moneyjungle.net does not offer financial advice but we can connect you with an impartial, FSA qualified adviser.

Click here and complete a simple form and an adviser will call you back to discuss mortgage options tailored to your needs.

Posted in Mortgages | Print | No Comments »

28/03/2008 by bill.

Despite recent cuts in Bank of England lending rate mortgage interest rates are going up. Nationwide has announced higher rates for new borrowers.

The moneyjungle.net mortgage page offers information about the types of mortgages available and how to find the one for you. As with any personal financial decision, we recommend seeking expert advice in selecting the most appropriate mortgage for your circumstances. Money Jungle does not offer individual financial advice but we can now connect you with an impartial, FSA qualified adviser.

Click here and complete a simple form and an adviser will call you back to discuss mortgage options tailored to your needs.

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01/03/2008 by bill.

Many people have paid for expensive payment protection insurance when taking out loans, mortgages or credit cards, only to find that a claim is turned because of exclusion clauses in the small print. PPI can add anything up to 50% to the cost of loans.

It may be that the terms were not fully explained or that the cover was unsuitable for your individual circumstances. Anyone who feels that they were mis-sold PPI should complain and seek compensation.

The first thing to do is to contact the company that sold you the policy and give them a chance to respond. If you are not satisfied your next port of call is the Financial Ombudsman Service. The Financial Ombudsman Service website includes helpful information and a fact sheet you can download. See also guidance on the FSA Money Made Clear website.

For more information and advice on credit and debt see moneyjungle.net.

Posted in Personal loans, Mortgages, Credit and Debt | Print | No Comments »

23/01/2008 by bill.

Lenders have already reacted to flling interest rates by offering lower fixed rate mortgages and deals below 5% are now around.

We recommend seeking expert advice in selecting the most appropriate mortgage for your circumstances. moneyjungle.net does not offer financial advice but we can connect you with an impartial, FSA qualified adviser.

Click here and complete a simple form and an adviser will call you back to discuss mortgage options tailored to your needs.

Posted in Mortgages | Print | No Comments »

06/01/2008 by bill.

The world wide credit crunch is now having a direct effect on UK consumers many of whom are finding credit more difficult or expensive to secure.

Retailers report that sales are suffering as buyers find that credit applications are refused. It is also reported that more applications for credit cards are being rejected.

To avoid embarassment and inconvenience now might be a good time to take a look at your Experian Credit Report, you can get a free copy by signing up to CreditExpert.

The credit crunch is also affecting people applying for new mortgages or looking to remortgage. We can help you find a mortgage through the moneyjungle.net mortgage finder service.

For more information about handling credit and debts see moneyjungle.net.

Posted in Credit and Debit Cards, Mortgages, Credit and Debt | Print | No Comments »