The consumer price index (CPI) rose slower than expected in January which could mean that interest rates could be cut further by the Bank of England over the coming months. Inflation was at 2.2 % in the month which is just above the Governments target. It is edging away from the 2% target that the Government likes but at a…
Author: Scott Morrissey
Lower interest rates with slower cuts
The slower the Bank of England cut interest rates the more likely rates will fall further. There is a feeling that interest rates could eventually go down to 4% but would take a while to reach this figure. Many people would hope rates would fall faster but a prudent wait and see approach by the Bank would be more likely,…
Increase mortgage payments to beat inflation
Homeowners should look to increase their mortgage paymets (over pay) as much as possible to beat inflation. With a background of rising prices it is important to ensure any savings guarantee a better return. By paying off you mortgage quicker you will guarantee an inflation beating return. You would be better doing this as you would need to achieve 7.5%…
Mortgage arrears
Solution Mortgages specialise in arranging you a remortgage even if you have mortgage arrears. Whether you have a poor credit rating, mortgage arrears on your current mortgage, CCJ´s or been made bankrupt, Solution Mortgages should still be able to find a remortgage to suit your needs. Mortgage arrears occur when you miss payments on your mortgage. Your lender will notify…
Problem Remortgage
Solution Mortgages specialise in arranging you a problem remortgage, regardless of your financial circumstances. Whether you have a poor credit rating, arrears on your current mortgage, CCJ´s or been made bankrupt, Solution Mortgages should still be able to find a problem remortgage to suityour needs. Many people need a problem remortgage as CCJ’s and arrears will not be allowed by…
Debt Consolidation
Solution Mortgages specialise in arranging you a debt consolidation remortgage, regardless of your financial circumstances. Whether you have a poor credit rating, arrears on your current mortgage, CCJ´s or been made bankrupt, Solution Mortgages should still be able to find a debt consolidation remortgage to suit your needs. Debt consolidation is for people who have multiple payments across a wide…
Britons secret loans
More than 1 million people in the UK have secret loans that they have taken out. These are loans that a partner do not know about. Around £7.7 billion is borrowed in this way. These loans are either taken out to consolidate other loans or to pay for things like cosmetic surgery. People should be more open and honest about…
Large drop in IVA approvals
There has been a large drop in the number of Individual Voluntary Arrangement's (IVA's) transacted in the last quarter of 2007. This is likely to be down to the stringent criteria imposed by the Insolvency Exchange. Many more IVA applications are being rejected as a consequence. However as conditions in the credit market have failed to improve and with debt…
Call for Code of Conduct in sale & rent back sector
There have been calls for providers of sale and rent-back schemes to subscribe to a Code of Conduct to improve the poor reputation that the sector currently has. Criticisms of the sector range from, providers not using independent valuations for properties, to deals done without rental guarantees in place. Sale and rent-back schemes can be an option for borrowrs who…
More help for people facing repossession
Calls have been made for the government and lenders to do more to aid people facing repossession. Free confidential advice should be available for those in this predicament to help them explore all the options available to them. It has been suggested that 1 million people in the UK could be repossessed this year. Last year was also an extremely…