Mortgages.scot

Interest rate rise to 5% in further blow to borrowers

Although there was a glimmer of hope in the weeks following the last rate rise, inflation has let us down again which has resulted in the base rate being moved up 0.5% to 5%.

Mortgages

Financial Ombudsman's view on setting upper age limits on lending

I have written previously around the maximum age it is possible to have a mortgage. some lenders are more flexible than others but the Financial Ombudsman Service has published more information that is telling lenders to be flexible.

Mortgages

What happened to the mortgage affordability stress test?

The Financial Policy Committee, part of the Bank of England held a consultation with a view to removing the requirement to stress mortgage rates to ensure robust affordability testing. They determined it was no longer needed. So why are lenders still using it?

Views

Interest Rates Rise to 4.5%

Unfortunately, rates have increased again as I predicted last month. Not as much as in previous months where we saw a number of 0.5% increases. This month we saw an increase of 0.25%.

News

What's the highest age you can have a mortgage?

How old is too old? That is a question I get quite often in relation to mortgage lending. More and more want to borrow later in life, the issue is whether lenders are willing to allow some to borrow due to their age. So where is the line drawn?

General

Property related Podcasts

It's not always about reading articles on blogs, there are plenty of property and mortgage-related podcasts out there which are great to listen to as you walk or when having some quiet time. Here are a few I listen to that are great.

Podcasts

Strong demand freezing out 1st time buyers

Strong demand for property in Scotland is freezing out 1st-time buyers due to significant bidding over home report value. The result is that those that have managed to save still don't have enough.

Mortgages

Is Critical Illness insurance worth it?

Is Critical Illness worth it? That is a question I have received. Not such an easy question to answer as it really depends on the individual and their needs.

Questions

Over 10,000 homes in Scotland worth £1m+

For the first time ever the number of properties in Scotland valued at £1m or more is over 10,000. Half of them are in Edinburgh.

General

Register of Overseas Entities

The Register of Overseas Entities came into force in August 2022. What is it and is it working? The suggestion is not so well with close to half of the entities required to register doing nothing so far. Although that is not necessarily the whole story.

Guides

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