Search Results for 'UK mortgage terminology'

8 results found.

value to the consumer when switching their mortgage provider

Responding to the recent Banking and Payments Federation Ireland mortgage drawdowns for the second quarter of 2018, Brokers Ireland have stated that the standout figure is a 95.5 percent year-on-year increase in the volume of re-mortgaging/switching, indicating that Irish consumers are getting the message there is value to be had in switching.

Tracker mortgage scandal - what you need to know

Most of us have read the numerous media reports documenting what has become known as the tracker mortgage scandal.

Experts urge homeowners to review protection policies

Approximately 95,500 homeowners are now in arrears for their principal home for over 90 days and the majority of these may be potentially under insured on their mortgage protection. This is according to analysis of the latest Central Bank figures by Caledonian Life, who have said that of the 95,500 homeowners who are in arrears for three months, many could be unaware of the need to reflect any changes to their mortgage repayment structure in their protection policies.

An estimated 2,200 households in Mayo open to severe financial risk

It is estimated that approximately 2,200 mortgage holders in Mayo have switched to interest only mortgage payments to assist with affordability, but according to Caledonian Life these homeowners may now be leaving their families open to thousands of euro of legacy debt. The most recent report from the Financial Regulator would suggest that this switch has become a common cost saving strategy, as the public attempt to deal with affordability issues in the current recession. The leading life insurance company said it is believed that up to 50,000 struggling mortgage holders throughout the country have had to switch to interest-only repayment terms or otherwise restructured their mortgages since the recession began three years ago, but that most may not have adjusted their mortgage protection cover to reflect this change.

Release some equity with a move to EBS

Over the last year to 18 months, as house price growth has slowed, many people have decided to renovate or extend their own homes rather than purchase a larger home. To finance these renovations it is possible to release equity in an existing home.

Using pension backed mortgages to buy property

Q. I want to buy a property to lease back to my company. I need to borrow the purchase price. Is there a tax efficient way of doing this and what are the financial implications?

Using pension backed mortgages to buy property

Q. I want to buy a property to lease back to my company. I need to borrow the purchase price. Is there a tax efficient way of doing this and what are the financial implications?

Mortgage repayment protection cover

Previously mortgage repayment protection cover could only be taken out within 90 days of mortgage drawdown. Having made the biggest financial investment of their lives, many home buyers were reluctant to commit to further premiums at this time. Product providers have now updated this product allowing customers to opt for it during the course of their mortgage term.

 

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