Mortgage Calculation: A Beginners Guide

Conventional wisdom dictates that most prospective homeowners can afford a mortgage equal to between two and two-and-a-half times their annual income before taxes and deductions. However, this calculation is only a general rule of thumb and there are several factors to consider when it comes to calculating how much you, personally, can afford.

Read more… http://www.agentright.com/US/blog-and-articles/mortgage-calculation-a-beginners-guide/

 

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Is now the right time to buy a property?

There are many factors to consider that will help you decide whether or now is the right time for you and the following article takes potential buyers through the essential questions they should ask before booking in the viewings.

http://fillyourmoneybox.com/is-now-the-right-time-to-buy-a-property/

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How to Choose the Right New Home: A Buyers Guide

Whether you are looking to move out from your parent’s home for the first time or simply want to move to a more suitable property, there are many different types to consider. From chic apartments to family homes, you need to know which one is right for your needs and this guide has been put together to help ensure the perfect property is chosen.

Read on…http://www.agentright.com/blog-and-articles/how-to-choose-the-right-new-home-a-buyers-guide/

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How Does Shared Ownership Work?

The recession has played havoc with the housing market, with less and less of us being able to purchase a home. This has created a boom in the rental market, but there is also the option of shared ownership to consider.

Read on…http://www.abidings.com/2012/07/24/how-does-shared-ownership-work/

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UK Mortgage lending up by 24% during May

According to the Council of Mortgage Lenders the gross mortgage lending during May was an estimated £12.2 bn. This represents a 24% rise from £9.9 billion in April and a 13% rise from May 2011 (£10.8 billion).

The Council of Mortgage Lenders’ is made up of member organisations including banks, building societies and other s specialist lenders. The CML undertake roughly 95% of all residential mortgage lending in the UK. There are 11.3 million mortgages in the UK, with total loans worth over £1.2 trillion. Read on…http://www.housetrade.co.uk/news-article/Mortgage-lending-up-by-24percent

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Lenders get tough on repossessions

Signs are starting to show that lenders patience with homeowners in arrears is wearing thin. With the ongoing economic troubles there are an increasing number of borrowers who are struggling to stave off repossession as lenders begin to tighten their belts. These findings were published following a report by Revival Repossession Solutions.

Shelter also agreed that there is a stark divide between the north of England, which is at a higher risk of home repossession, and the south, according to Shelter‘s report, England Repossession Risk Hotspots. Read more;

http://www.housetrade.co.uk/news-article/Lenders-get-tough-on-repossessions

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Tenancy Deposit Protection launches in Scotland

Scottish Government introduces new legislation to protect tenants’ deposits

Watch Eddie Hooker, CEO of my|deposits Scotland explain what the TDP legislation is, who it will affect, and what tenants, landlords and letting agents are required to do and by when. Follow the below link to view live video stream: 

http://www.housetrade.co.uk/news-article/Tenancy-Deposit-Protection-launches-in-Scotland

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£140bn kiss of life for Britain

The Coalition is preparing the £140billion lifeline to small businesses, homeowners and the banks in order to jolt the economy back into life. The Chancellor George Osborne and Bank of England Governor Sir Mervyn King unveiled the plan to yesterday to unleash vast sums via the high street banks.

George Osborne Sir Mervyn King

The main points of public interest in the proposed scheme are;

• Scheme aimed at limiting impact of ‘Eurozone debt storm’ which is blamed for raising the cost of lending
• Banks will be loaned money on condition they pass it on in the form of cheaper loans and mortgages
• Huge sum represents 1/5 of all Government spending, more than defence and education budgets combined
• Government will soon announce another initiative to underwrite tens of billions of pounds on spending on housing and infrastructure

Read more…http://www.housetrade.co.uk/news-article/£140bn-kiss-of-life-for-Britain

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First time buyer lending fell 70% March to April

Mortgage

Council of Mortgage Lender data clearly shows a slump in lending after the Stamp Duty holiday. Figures show that mortgage lending to first time buyers in the £125,000 to £250,000 price bracket dropped 70% in one month between March and April 2012. There were more modest decreases of 11% falls in lending for properties valued at £125,000 or below and those priced over £250,000 lending dropped by 5%. Read more…http://www.housetrade.co.uk/news-article/First-time-buyer-lending-falls-70-percent

 

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Let Students Pay Your ‘Buy To Let’

 

With the continuation of 0.5% base rate many investors, new and existing, will be benefiting from taking out a new deal at a low rate or reverting to their typical Standard Variable Rates. Unfortunately these are still tough times for the ‘Buy to Let’ sector and taking out new mortgage deals can prove much more costly when compared to residential deals currently on the market. Investments plans made relying on capital growth are sure to fall foul in this current economic climate.

Those investors who are willing to accept that the property value might waiver over the next few years but are concentrating on rental yield and ready to commit to the full mortgage term may recognise a good long-term investment. However, even for those with the largest of deposits, the associated higher fees of dealing with rental property and maintenance costs continue to squeeze the affordability of would-be landlords to take on the risk of a ‘Buy to Let’ property.

But there are other ways of increasing your rent to help navigate these extra costs incurred and one of these ways is acknowledging the ever increasing demand for properties for students, read more…http://www.housetrade.co.uk/news-article/Let-Students-Pay-Your-‘Buy-To-Let’

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