Personal Financial Details

According to a story on Money Mail, Tesco Bank have lost the personal details of some of their customers, exposing them to the risk of identity theft. It is reported that Tesco staff sent unprotected personal details of in the post for a number of customers that were in dispute with them over Payment Protection [...]

House prices are falling

The Narionwide has reported that house prices are falling again, because of the need for higher deposits on mortgages and job worries putting off buyers. For the first time in 5 months the Nationwide’s house price index recorded a fall in prices, with the average property price dropping half a percentage point to £169,347 between [...]

The End Of The Dreaded PPI?

After many years of lenders selling, or just simply adding on, Payment Protection Insurance to a variety of loans, the insurance could finally be on the way out. Payment Protection Insurance (PPI), which was often forced on customers whether or not they needed it or could benefit from it, has been the brunt of many [...]

Tips For Changing Your Mortgage

First things first. Although changing mortgages looks like you can save a fortune by getting a lower interest rate, this is not always the case. Yes, the rate you are moving to may be significantly cheaper. But there are a lot of hidden costs involved and the net result of these costs could be that [...]

How a Late Mortgage Payment Affects Your Credit Score

Put quite simply, your credit score is a system that is supposed to reflect to future potential lenders just how good, or bad, a credit risk you will be for them. If you are a good credit risk then they are more likely to get their money paid back on time, but a poor credit [...]

How Your Credit Score Affects Getting a Mortgage

Your credit score is a rating based on how you have behave with your previous loans. Both good information and bad information will be recorded on your credit rating and it is the points that are allocated to each of these events that create a numerical score, that lenders use to judge you. For example, [...]

A Few Frequently Asked Mortgage Questions

How Much Can I Borrow? A tricky question! This depends on whether you are arranging the mortgage on your own or with a partner. Usually, if you are buying on your own you will be able to borrow around 4 times your wage or if you are borrowing with a partner, then 3 times your [...]

Mortgage Tips For Cheaper Repayments

A bit of a contradiction to start off with. First, shop around, but secondly, stay where you are! Why contradict myself to start off with? Well, not every rule applies equally to every person and some people can make cost savings whereas other people using the same techniques could end up out of pocket. And [...]

What is a Self-Certified (Self-Cert) Mortgage?

With most types of mortgages, a lender will want to see hard evidence of proof of an income, from which they will use a multiplier to calculate how much they are willing to lend. This multiplier changes slightly between lenders and depending on whether it is one person taking out the mortgage or a couple. [...]

What is a Fast Track Mortgage?

A fast track mortgage is simply a way of getting through the mortgage application process more quickly. The idea is that the lender does not require the borrower to prove their income. This is not the same as a self-certified mortgage where the proof is not needed because the borrower has many sources of income. [...]

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