In the wake of last weeks shock announcement by Bank of England of a 1½% interest rate drop from 4.5% down to 3%. This was not before time! Around 40 mortgage lenders withdrew their trackers rate products from the market and said they would be reviewing and relaunching their tracker products later this week. By last Friday afternoon […]
Even in today’s market place self build mortgages continue to enable the self build enthusiast to gain a healthy return on their time and money when their particular project is finally completed, even with the current trend on falling house prices a properly managed self build project can end up with a healthy return on […]
A second Mortgage or Secured Loan is one secured on the same property by a lender other than the first mortgagee. Secured Loans are offered by some banks and virtually all finance houses. By contrast, building societies tend not to offer these unless they already hold the first charge.
Although the homeowner loan is secured on […]
Today’s lending market is even stricter about credit scores. If you are below a 740 credit score, you can have adjustments to your interest rate depending on the type of loan you are applying for. If you are seeking an FHA loan and you are below a 620, your interest rate will be adjusted higher […]
Lenders see people that need help with the credit profiles all the time. I know this from firsthand experience. It did not take long until I decided to do something positive for my customer.
It was disappointing to give people the general instruction and then never to hear from them again. I began to wonder […]
A couple years ago when I started getting interested in credit repair I helped a couple who had credit scores in the low 500s. They had a previous bankruptcy and there were a bunch of accounts that they had included in the bankruptcy which were still reporting as if they had balances on them.
The […]
If you have ever shopped credit repair, you know it is not cheap. Credit repair companies and credit repair attorneys are expensive. The process is going to cost you at least $250 on the low side to work with either one.
There are a lot of loan officers that will refer you to a credit […]
When refinancing an interest only loan the process is the same as in any other refinancing. It is simply the swapping of one loan for another. When interest rates are low it’s a very good time to refinance since you can save yourself considerable amounts of money over the life of the loan. Also, by […]
Sometimes it’s necessary and sometimes it’s just on a whim, but all of us have felt the need to improve our homes at one time or another. In this day and age it’s simply not enough to just have a roof over your head, everyone wants to live in style and comfort and many times […]
It’s not uncommon to see mortgage rates misspelled as mortage rates, I’ve made the mistake myself many times. Anyway we both know what is meant and right now I want to talk about the possibility of rising mortgage rates.
Current mortgage rates are lower than historical averages even though those with short memories and those that […]
