Mortgages.scot

Are interest only mortgages still a reasonable option?

Are interest only mortgages still available and are they a sensible option for borrowers? The media's attention to interest-only mortgages in recent years would suggest not. They are still available and may be suitable depending on borrower circumstances.

Interest-only

Can't afford to repay interest only mortgage

For many who purchased a house with an interest-only mortgage, particularly those that did so many years ago, in fact up to 25 years ago the time may have arrived when the mortgage is due to be repaid. That is exactly what is approaching for one visitor to the site who is going to be unable to repay and have the desired outcome that was originally promised.

Questions

7% Interest rate? Chaos for Homeowners?

The fallout from the recent budget announcement has triggered all sorts of concerns for homeowners, or more specifically those with mortgages. With predictions of 7% interest rates, falling house prices and mortgage lenders removing products then adding new ones at a higher rate, what does it all mean?

Views

Affordability testing is changing

There have been many articles circulating in the media for the last few days claiming lenders are getting tough on the cost of living crisis. Some inflammatory commentators suggest lenders are deliberately squeezing some borrowers out of the market and other frankly wrong comments.

Regulation

Rising Mortgage Rates in 2022

The Bank of England has once again announced an increase in interest rates. The 3rd in 4 months. If you are putting off reviewing your mortgage or you are coming off a special rate in the next few months then now is the time to act. Analysts are predicting worse to come.

General

Obtaining a mortgage for a property with issues

I get quite a few questions and comments from people who want to purchase a property with issues, whether that be interior condition, dry or wet rot, structural concerns and so on. How easy is it to get a mortgage in these circumstances? Well, it depends.

Mortgage
Issues

Mortgage Stress rates after Interest rate increase

In February 2022 the Bank of England increased interest rates for the 2nd time this year. What few are talking about is the impact on the mortgage stress rates banks need to apply.

Views

Purchasing listed buildings Scotland

There are many listed buildings in Scotland, not all are as out of reach in terms of value as you may think. However, purchasing a listed building comes with responsibilities and potential costs that you need to consider.

Guides

Do I really need a mortgage advisor?

is a question I get often and am actually surprised I have not covered it before. When looking for a mortgage deal do you really need to use a mortgage advisor?

Views

Decision in Principle

Before you decide on a property to purchase you can obtain a Decision in Principle which gives you confidence a mortgage should be available. Should being the key here, it is not a guarantee.

Guides

View more posts:

1 2 ยป