August 22nd, 2008
Consumers are getting hit hard by the loss of a low rate mortgage and many are finding it increasingly difficult to make their payments and get by. Formerly low rate mortgages are skyrocketing in price and many are concerned about making ends meet in the current economic climate, particularly as the cost of living goes up.
Louis Cumings of MoneySupermarket commented, “Anyone finding their mortgage repayments a real struggle should remember final repossession is a long process and lenders have a regulatory requirement to act sympathetically towards borrowers experiencing financial hardship. Anyone worried about their ability to keep on top of their bills should approach all creditors, not just their mortgage lender, as soon as possible and work with all parties to try and put an affordable monthly payment plan together.
Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA), said: “I remain concerned that the optimism for the next few months may be scarred by the current uncertainty regarding stamp duty. The confused messages being sent out by the Government will undoubtedly have an impact on consumer confidence as the public is understandably confused at present about whether to buy or sell.
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August 15th, 2008
Right now, even though the return of low rate mortgages seems almost mythical, there is high hope in many circles that rates will drop. However, it may take time to see a return to low rate mortgages, and in some instances, the economy will need plenty of time to completely recover. Until then, getting a […]
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August 8th, 2008
Although there are high hopes that low rate mortgages will soon return to the UK, many are waiting cautiously to see what happens in the US markets, as well as what banks are doing. Low rate mortgages are always popular and even though some lenders have dropped rates, many feel that it is way too […]
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August 1st, 2008
A new phenomenon may be affecting the low rate mortgage market. Dual home pricing is a real problem for many and this may be part of the reason that low rate mortgages are so hard to get at this time. One thing is clear, buyers need to be careful and search far and wide for […]
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July 18th, 2008
Homeowners struggling to make ends meet are quickly finding it nearly impossible to get a new low rate mortgage. For those that are facing foreclosure, a refinance to a low rate mortgage may be all that is keeping them from foreclosure. Until availability of low rate mortgages returns, it is quite possible that the housing […]
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July 10th, 2008
As more people attempt to take advantage of plummeting housing values, they are quickly finding it very difficult to get a low rate mortgage. Although the housing value downturn may actually help sales of homes, it won’t do much good for those that are unable to get a low rate mortgage. Right now, rates are […]
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June 26th, 2008
The search for the low rate mortgage has grown to almost epic proportions as more consumers attempt to save money. However, right now, only those with perfect credit are able to get a low rate mortgage, and even then they have to shop around to find the best deal. Experts advise careful shopping and lots […]
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June 19th, 2008
As consumers struggle to make ends meet, many are looking to get a new low rate mortgage and coming up empty. It is becoming increasingly difficult to get a bank to give you a low rate mortgage, even if you have a great track record and perfect credit. Many fear that this may be the […]
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June 13th, 2008
Although many analysts had hoped that low rate mortgages would be returning, the latest announcements from several UK banks dashed those hopes. Instead of going down, the interest rates for low rate mortgages have climbed yet again. In addition, for those that are still able to find a low rate mortgage, the closing costs are […]
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June 4th, 2008
Although many are seeking new low rate mortgages to help them avoid foreclosure, they are not having much luck according to financial experts. The current trends in the low rate mortgage market are very similar to the early 1990’s, which were a dark time indeed for the UK. Although many need a low rate mortgage, […]
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