King’s Lynn in North West Norfolk has bucked the national trend and seen the largest percentage increase in new listings for properties coming to market during October 2018. While stock levels have dwindled in more than half of the 100 towns and cities analysed across the UK by online estate agent Housesimple, down by 5.5 […]
The 80s was a defining decade for home ownership with a boom in house price rises, and the Conservatives’ ‘right to buy’ policy encouraging more of us to invest in bricks and mortar.But one legacy of the era was a large number of homeowners who bought their property with an interest-only mortgage – often alongside poor performing endowment policies – many of which are now coming to an end. A number of these borrowers do not have provision to pay the capital owed on their home, having only paid the interest for the term of the loan. In this post we explore the options available to homeowners facing an interest only shortfall in retirement.
It’s not an uncommon scenario that as our mortgage comes to the end of a fixed rate period, our current lender will contact us with a ‘product transfer’ offer. As many of us are time-poor, it can be tempting to opt for the ‘easy’ fix – after all, the lender can quickly take care of things and transfer our borrowing to its new product.
But is it the best option? In this post we explore the differences between a product transfer vs. remortgaging your home, and which you should go for at the end of your term.
Whether it’s the Brexit effect, the natural cyclical end of record low interest rates two years ago, or the desire to stay put and release some funds for home improvements, a growing number of homeowners have taken the opportunity to remortgage in 2018. And, with an increasingly complex range of property finance products on offer, […]
On 1 October 2018, new legislation finally came into effect in England and Wales affecting the criteria and standard of house of multiple occupancy (HMO) properties. This includes a major shift in the way that HMOs are licensed, and any property with five or more occupants now requires a licence from the local authority in […]
Life insurance, mortgage protection, income protection, critical illness cover – it might seem dull to think about, but protection could prove to be a life-changing decision, and one never regretted by those who have need to call upon it. With a wide range of protection options available, NM Finance can advise on the best product […]
2018 has been a year of change for the buy-to-let market. From legal obligations to increased cuts in buy-to-let mortgage interest tax relief, it’s been a period of shifting sands as landlords reevaluate their investment properties. With further changes ahead, including a potential ban on residential letting fees and possible interest rate rises, those in […]
Will Brexit put mortgage rates up? After the interest rate rise in August 2018, the Bank of England Monetary Policy Committee has taken the unanimous decision to hold rates at 0.75 per cent at its September meeting. The decision offers some assurance to homeowners with mortgages, with the MPC saying future rate increases are ‘likely […]