Interest only mortgages being affected by price falls

The house price falls that have been ongoing for over twelve months have had many adverse effects, and according to recent reports these price falls could result in real problems for those that have interest only mortgages. These are mortgages where the monthly repayments are all put towards the interest owed on the loan with the actual loan balance remaining the same until the end of the mortgage term, at which point it needs to be paid off. Read more

Tags: house prices, Financial services, interest only mortgages, actual loan balance, money

Repayment Vs Interest Only Mortgage

If you are on the lookout for a mortgage to purchase a property in the UK you could find yourself in something of a minefield, with a wide range of mortgages to select from, each offering a range of benefits to suit different needs and circumstances. However, all of these mortgages come under the umbrellas of either repayment mortgages or interest only mortgages. Read more

Tags: repayment mortgages, debt, interest only mortgages, finance, investment, original mortgage, interest only mortgage, account

Repayment and interest only mortgages

There are many different mortgages on the market these days, with something to suit most needs and circumstances, but all mortgages come under one of two umbrellas, which are repayment mortgages (also known as capital and interest mortgages) and interest only mortgages. When you are looking for a mortgage you need to decide whether you want to opt for a repayment mortgage, which is the most popular type of mortgage, or an interest only mortgage. Read more

Tags: UK mortgage terminology, taken out, repayment mortgages, interest mortgages, time buyers, mortgage term, interest only mortgages

No Evidence That Interest Only Mortgages Are Taken Out Under Pressure

Amidst concerns that many people may be taking out interest only mortgages rather than capital and interest mortgages simply because of the rising cost of house buying and the problems with affordability, a recent report has been published and has indicated that this is not actually the case, and it is not pressures relating to the affordability of housing in the UK that is resulting in some borrowers opting for the interest only mortgage.
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Tags: interest rates, interest only mortgages, Mortgages, base rate, bank of england

What Is A Mortgage?

A High Price to pay

A house is probably the most expensive thing you will ever buy. Today, the average property in the UK costs approximately £195,000. Taking out a loan to cover this kind of sum is not something that should be done without a great deal of thought and consideration. Read more

Tags: what is a mortgage, Mortgages, interest only mortgages, repayment mortgages, mortgage definition