Mortgages.scot

30m struggling with bills says FCA

The FCA has published updated data on their Financial Lives survey. The data suggests 30m are now struggling to keep up with their bills in the current climate.

News

Inflation breaks 10%

The latest inflation figures are out, not a surprise but CPI has broken the 10% mark again. CPIH is currently 8.8%. Whilst the increase is unlikely to have a significant impact on its own that still doesn't detract from the point it is getting worse.

News

Grand Designs - The Eye

Featured on Grand Designs this property in Devon cause a divorce and many years of pain and suffering for the owners who tried to turn their dream into a reality.

Interesting Property

Inflation explained

There has been a lot more talk about inflation in recent weeks and months. More than usual that is for sure. When speaking with people about the economic position I find many don't really understand inflation in that much detail. No issue with that, all most want to know is how it affects them so don't spend time understanding it. I have put together this short guide to give more but not a huge amount of detail on the subject.

Guides

Stamp Duty Explained

stamp duty on property is payable when purchasing property in the UK. There are different rates and in fact different names across England/Northern Ireland, Scotland and Wales. In any event, the principle and broad application are the same. Sometimes it is not that easy to understand what stamp duty would be paid. This guide should help with that.

Guides

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

There is no £2,500 price cap on Gas

I have had a few questions about the price cap of £2,500 for gas supplies. There appears to be confusion around this so I wanted to be clear for those who have not understood how this works and what it actually means.

General

Belmont House, Stonehaven

It is rare in a small town like Stonehaven to have an opportunity to purchase a larger property, especially within the original town area. There are plenty further outside of the town, so Belmont House is a rare opportunity to purchase such a substantial property in this particular location.

Interesting Property

Have lenders stopped using the interest stress test?

From the 1st of August 2022 lenders were able to stop stress testing mortgages. An affordability test that was introduced in 2014 to ensure borrowers could still cope with an interest rate shock. Although we are only 3 weeks on have any lenders dropped the test?

Views

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