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

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Compare First Time Buyer Mortgages

Buying your first home is one of the most important and likewise stressful decisions you’ll have to make. Getting a foothold on the property ladder is an exciting time and there are a few important steps you need to take first.

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A quick guide for First Time Buyers - (reference: Direct.gov.uk)

• Deposit: Most lenders require a deposit from first time buyers. This is usually between 5 and 10% of the purchase price. There are lenders who offer 100% mortgages, which require no deposit, however they may charge you a higher lending fee for this type of mortgage.
• Surveyor’s Fee: Lender’s require a survey from a qualified surveyor. They often times appoint their own and you will need to factor in this fee.
• Stamp Duty: This fee ranges from 1 to 4% percent depending on the property value. Any property over £125,000 (except in certain situations) will require a 1% Stamp Duty Tax.
• Legal Fees: You will have to pay a solicitor or conveyancer for any legal fees, land registry fees, local authority searches, etc. Speak with your solicitor to discuss all that’s involved including costs.
• Monthly Costs: You will need to budget for your basic costs on a monthly basis such as mortgage payments, life insurance, building and contents insurance, council tax, utility bills, telephone, television license, etc.

It can feel intimidating when you first begin the process of buying your first home however, many of these fees are only required once, unless you remortgage in the future. It’s recommended to seek out the advice of an FSA registered mortgage broker to help guide you with these important steps. In addition, a broker can access the Whole of Market and as intermediaries are often able to find deals not available directly to the public.

Here at the MoneyOutlet we work with a vast network of FSA regulated mortgage brokers with special access to banks, building societies, and adverse credit lenders. Worried about having bad credit? Self employed with no accounts? We can help! We cater to all credit types and will connect you with CeMAP certified brokers eager to help you find the best mortgages available. You safely and securely provide your requirements in the form above and we immediately begin searching over 8,000 low rate mortgages. You’ll receive your free, no obligation quote without a credit check (important!).

Why not see how we can help you today? Use www.moneyoutlet.co.uk to search and compare online and help find you the best available mortgage loans in today’s market no matter your credit status.

Published on September 24, 2007

Darling's Budget Report Highlights

Chancellor Alistair Darling delivers his first Budget Report yesterday. Highlighted in this article are some of the main points... Read More
March 13, 2008

Lending Falls Again Says CML

The amounts borrowed by first-time buyers and home movers continue to drop as the credit crunch takes further grip on the UK mortgage market. Remortgage activity is on the increase as many switch from fixed-rate deals to tracker mortgages in anticipation of further base rate decreases from the Bank of England... Read More
March 12, 2008

Interest Rates Kept At 5.25%

Yesterday, 6th March, the MPC decided to keep the base rate at 5.25 per cent. This decision was to be expected as the Bank focuses on the pressures of rising inflation and a slowing economy. Analysts are predicting another cut to 5 per cent to happen in May unless economic conditions weaken substantially. Whilst some feel the MPC shouldn't wait too long before the next cut, many agree with yesterday's decision... Read More
March 7, 2008

20 Per Cent Of Homeowners Fear Repayments

The UK's financial watchdog, the FSA, published a survey of over 500 mortgage holders which revealed 1 in 5 are worried about being unable to keep up with their mortgage repayments. It is estimated that 1.4 million fixed-rate or discount deals will expire this year raising monthly repayment amounts. Twenty five per cent of those surveyed admitted they had no contingency plans to meet these costs... Read More
March 6, 2008

Mortgage Criteria Becoming More Difficult

Mortgage borrowers are once again being hit with more criteria from lenders as the credit crunch becomes solidified in 2008. Not only have 100% and 125% mortgages been pulled from the shelf, now many lenders require a minimum of 10 per cent deposit in order to qualify for credit. It is now highly recommended to save as much as possible for your deposit and improve your credit history before applying... Read More
March 3, 2008

Read all Mortgage Articles

Personal Mortgage Centre - Tips & Information

• Mortgage Basics
• Remortgaging - The Basics
• Reasons to Remortgage
• Interest Only Mortgage - A Quick Guide
• Home Information Packs (HIPs) - A Brief Explanation