Archive for the ‘Bad Credit’ Category

Debt consolidation loans: a beginner’s guide

Friday, January 16th, 2009

There are thousands of people in the UK struggling with several small debts owed to many lenders. Many have not realised the disadvantages of owing small amounts to many creditors, and how this can cost you money in the long run. If this sounds like your situation, you may wish to consider a debt consolidation […]

New protocols may improve chances to remortgage

Thursday, October 23rd, 2008

The government has unveiled plans to ensure that lenders do not repossess homes without making extensive efforts to agree rearranged payments from customers. Yvette Cooper, chief secretary to the Treasury, said that the rules would make sure that “repossession is the last resort, not the first.” The new arrangement may also give home owners more […]

Mortgage approvals at all time low in bad credit crisis

Tuesday, September 23rd, 2008

The housing market has been in steady decline in recent months with house prices falling and the recent economic climate being in disarray. The British Bankers’ Association (BBA) calculated a record low of just 21,086 people taking out loans to buy property in August, less than two-thirds of the average for the past six months. […]

Top five benefits of remortgaging

Sunday, September 7th, 2008

Remortgage Deals gives you access to the entire market to find the best remortgage whatever your circumstances. From adverse credit to self cert products, there’s something for everyone. The benefits of remortgaging are many and various… 1) You can save yourself money each month by reducing the cost of repayments. 2) Your circumstances may have […]

Bad credit arrears causing problems

Friday, September 5th, 2008

A rise in the number of bad credit or subprime mortgage arrears is on the rise in the wake of the credit crunch, reports While slipping behind in mortgage repayments is the norm for many with chequered credit histories, the freeze on the market has caused a multitude of extra problems. Where previously many […]

Remortgaging a good option as house prices fall

Wednesday, September 3rd, 2008

With house prices falling so dramatically during August, remortgaging rather than selling up and moving on has never looked such an attractive option. Some home owners have been scared into sticking with a rising rate on their mortgage because of fears their application will be rejected by lenders. But with the Halifax index recording a […]

Stamp duty holiday announced

Tuesday, September 2nd, 2008

Good news for anyone looking to buy or remortgage a property under the value of £175,000 as The Times reports the government’s plans to axe stamp duty for anyone falling under this threshold. While the measure is likely to effect mainly first time buyers at the bottom end of the market, it will also have […]

Negative equity worry for borrowers

Tuesday, September 2nd, 2008

Home owners in negative equity will not be allowed to take advantage of the mortgage rescue plans from the government, reports The Times. Those who have negative equity in their home will be barred from accessing a portion of the £200 billion fund provided by the government, even if they are in dire straits and […]

Remortgagers face rejection

Thursday, August 21st, 2008

Research from GE Money Home Lending has shown that up to 3.4 million consumers have had their remortgage, first time mortgage or loan applications turned down in the last 18 months, reports Mortgage Strategy. It is believed this is a direct result of the credit crunch. Some 450,000 people seeking to remortgage or buy for […]

Northern Rock customers face remortgage challenge

Monday, August 4th, 2008

One in five Northern Rock customers with a high loan-to-value (LTV) mortgage faces negative equity, reports The Telegraph. As customers come to the end of their fixed rate term, Northern Rock is encouraging them to remortgage elsewhere. However, a lack of equity, coupled with the credit crunch, equals a hard time for many. The troubled […]

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