Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

2008 Offers Fewer Mortgage Choices

Mortgage and Loan borrowers are finding their choices limited as lenders discontinue many of the 'buy now pay later' products of 2007, according to a report from Moneyfacts.

David Knight, mortgage analyst at Moneyfacts, said: "Should this conservative approach continue, borrowers who come to the end of a deal but find themselves still borrowing at a high loan-to-value ratio could find the choice of deals limited, or may be forced to pay a much higher price."

"Along with the drastic reduction in sub-prime mortgages reported at the end of last year, these changes once again will impact those on the limits of affordability.

"Perhaps [this is] a sign that the 'live now pay later' culture that we saw take over in 2007 may gradually be coming to an end."

He continues to offer words of warning to UK consumers who are considering a mortgage.

"This more cautious approach of lenders starting to reduce their exposure to the property price fluctuations shows that they have a real concern over the future of the UK housing market. A case of negative equity is bad news for both the borrower and the lender.

"Anyone looking to take their first step onto the property ladder should carefully consider the risks of taking a high loan to value product. Plan and save for a deposit, as not only will it offer a buffer against price fluctuations, but your interest bill in the long term will be much lower."

If you are considering your first mortgage, a self-certify mortgage, or remortgaging with a new lender and rate, then you should consider comparing the Whole of Market to find the best deals according to your financial and personal circumstances.

Here at the MoneyOutlet we connect you with certified mortgage brokers from all over the UK who can provide you with Whole of Market mortgage product information to ensure you make the right choice before you borrow.

Simply visit MoneyOutlet's UK Mortgage page and apply for your no-obligation quote.

Published on January 22, 2008

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