Mortgage News

4 Ways to Use a Mortgage List

Fri, 04 Jul 2008 17:08:40 +0000

Several key pieces of information are contained within a good mortgage list. These would include the terms of mortgage of the loan, the purchase price of the property, as well as the relevant interest…

Original post by default@goarticles.com (Chris Burns)

Mortgage Lead List - Lead Generation Using a Mortage List

Fri, 04 Jul 2008 16:50:40 +0000

A mortgage lead list allows you to generate many useful contacts necessary for your business to grow. Most mortgage lead lists are compiled by companies specializing in information products where adva…

Original post by default@goarticles.com (Chris Burns)

What options do you have for mortgage finance?

Fri, 04 Jul 2008 14:27:59 +0000

The use of mortgage loans has increased significantly in the last decades. The thought of losing your home at the expense of various whims that needed to be satisfied could not be grasped before. Nowa…

Original post by default@goarticles.com (ken wilson)

The cost of living silences Mortgage and lending industry

Fri, 04 Jul 2008 13:33:16 +0000

There are a number of aspects of every day life that are starting to gradually go up. It’s been highly publicized that the cost of Diesel and Petrol for cars has skyrocketed, since the beginning of t…

Original post by default@goarticles.com (Andy Adams )

Mortgage Lenders and First-Time Buyers Stall While the Market Worsens

Fri, 04 Jul 2008 12:30:48 +0000

The mortgage market has hit something of a standstill and it is having knock on effects. Patrick Collinson and Rupert Jones said it best when writing for the Guardian: âBritain’s mortgage market…

Original post by default@goarticles.com (Sarah Othman)

Mortgage Interest Rates-A Constant Move

Fri, 04 Jul 2008 11:24:25 +0000

Knowing the predictions related to the existing mortgage rates makes a smart move to understand the best time so as to apply for the same. This is because, it will not only helpful in getting the best…

Original post by default@goarticles.com (Jacob Mathew )

How Bad Is Mortgage Debt?

Fri, 04 Jul 2008 11:12:37 +0000

A couple of years ago, an elderly friend of mine, berated me for having a few thousand pound debt on a credit card. (It was debt on a low % balance transfer) He said the modern generation were very bad because they were so keen to borrow money. To some extent he has a point about younger people being keen to take on debt. (There are currently record levels of personal debt in the UK and other countries.) However, I pointed out that he had been quite happy to take on a mortgage debt of £100,000. I asked him why his mortgage debt is fine, but, other types of debt are not? It was an interesting discussion. These are some of the issues about mortgage debt.

Low Interest Rates.

Mortgage debt is generally the cheapest way to borrow. Banks offer rates relatively close to base rates because it is seen as secured debt. Unsecured lending on credit cards and personal loans can cost upto 2 or 3 times the interest rate. However, in an era of falling house prices, there is a danger people could be left with a situation of negative equity; their secured borrowing becomes unsecured.

Spread out Over Many Years

A mortgage can be spread out over a time period of 20-50 years. This is both a benefit and a problem. The benefit is that it enables us to borrow large sums and keep the repayments manageable. The drawback is the longer we borrow for, the more we have to pay in interest rates. The total cost of mortgage payment can be 2-3 times greater than the initial loan. See: Should I pay off my mortgage early?

Mortgage is an Investment.

When we take out a personal loan to go on holiday, there is no investment. We get the money, spend it and then have to pay it back. With a mortgage we are saving on the alternative which is renting a house. Mortgage payments may seem like a big burden, but, so is the cost of renting. It is estimated by Abbey National that over a 25 year period, buying is £10,000 cheaper than renting. Even bigger benefits occur after this period ends. see: To buy or rent which is better?

Mortgage can be used to consolidate other loans.

One advantage of taking out a mortgage is that later we can use it to consolidate other loans such as credit card debts. This helps us to reduce our interest costs. However, this may not be possible if we experience falling house prices and negative equity. Also, we may take advantage of our mortgage to borrow too much, leaving us with more debt than we can deal with.

Original post by Tejvan R Pettinger

Approved Mortgage Deals Fall To An All Time Low

Fri, 04 Jul 2008 07:44:58 +0000

The number of new approved mortgages fell by 20 per cent in May 2008, to the lowest figure for more than 10 years. The drop between April and May was the biggest recorded, with just 28,000 agreed hom…

Original post by default@goarticles.com (Phil Benson )

Mortgage Crisis In The US Sees Professionals Lose Their Homes And Live In Cars

Fri, 04 Jul 2008 07:44:25 +0000

With the amount of mortgage foreclosures continuing to rise in the United States, shocking figures reveal that more and more middle class professional Americans are being forced to sell their homes a…

Original post by default@goarticles.com (Phil Benson )

The Drop Of New Home Loans Being Offered Sees Thousand Opt To Re-Mortgage

Fri, 04 Jul 2008 07:43:57 +0000

The British Bankers Association has revealed that the number of mortgages being offered by large high street banks has fallen by 39 per cent.

A total of 38,704 new loans for buying a home were appro…

Original post by default@goarticles.com (Phil Benson )