Following the numerous base rate cuts over recent months, many borrowers have seen their mortgage repayments fall sharply. As a result a number of banks have reported that there has been an increase in the number of homeowners that are overpaying on their mortgages each month as a means of saving money.
Borrowers will find that [...]
Negative equity is simply the term used to describe when your mortgage is more than the value of your home. It could happen when you take on a mortgage for more than 100% of your property’s valuation, but it’s really much more widely used to describe the result of recent dips in the value of [...]
Once upon a time, life was simple when you wanted to by a house. You paid fees for a surveyor to value the property, a lawyer to do the conveyancing, maybe a small insurance premium if your loan to value was over a giddy 70%, stamp duty and the cost of registering the deeds. But [...]
Mortgage exit fees explainedExit fees explained
Mortgage exit administration fees (MEAFs) – or mortgage exit fees for short – are charged by lenders when you change mortgage contract. If, for example, you switch providers at the end of a fixed-rate period, or you pay off your mortgage, you’ll probably have to pay an exit fee. According [...]
You’ve just found your perfect home after months of searching. Even better, you’ve managed to haggle it down to a bargain price because the seller is desperate to move. You’re ready to do the deal. There’s just one snag: you can’t sell your old house. Now you’re terrified that a cash buyer will come along [...]
