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Remortgaging up 53% year-on-year

The total number of remortgage valuations saw a 53% increase in October compared to the same time last year, figures from Connells Survey and Valuation reveal. The figures come despite the seasonal fall, which saw re-mortgaging activity in October drop 21% on September. John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Remortgaging [...]

2017-02-22T15:06:20+00:00

Mortgage Age Limits Change in the UK

Mortgage age limits set to rise It is wonderful that most of us are living longer. By 2034 it is estimated that around a quarter of the population will be aged over 65. Society is therefore changing but is the financial services industry offering the right products to meet our changing needs? Recent regulatory changes on affordability [...]

Homeowner Loans

Homeowner Loans Homeowner loans are a good way for people to borrow money they may need, especially if their circumstances mean that an unsecured loan isn't possible. If you have struggled to obtain an unsecured loan from the bank, and are a homeowner in England or Wales, a secured loan is the best option if [...]

2017-02-22T15:06:20+00:00

FCA says quality of advice in the mortgage market is mixed

The Financial Conduct Authority (FCA) published in July 2015 a Thematic Review assessing the quality and suitability of mortgage advice. This follows the implementation of the Mortgage Market Review (MMR) in April 2014 when new rules were introduced. The key finding was that the quality of advice in the mortgage market was mixed. The majority (59%) of [...]

2017-02-22T15:06:20+00:00

Secured Loans are more attractive now

Demand for Secured Loans grew by 24% for the year to April 2015, beating mortgages, unsecured loans or any other financial product you can think of. Why? The answer is the prospect of firmer regulation and better value products from March 2016. But industry changes are already happening now! In March 2016, Secured Loans will be redefined by the [...]

2017-02-22T16:29:47+00:00

Second Charge Mortgages

Second Charge Mortgages Secured loans are taking off! Demand for secured loans jumped by 26% in April as homeowners take advantage of record low interest rates and rising house prices. But this was no flash in the pan. Demand for the 12 months to April rose by 24% suggesting strong growth in this lending sub sector. These [...]

Second Charge Repossessions

Secured Loans: Repossessions at five year low! The number of actual Second Charge Repossessions taken by FLA members fell by 45% in the first three months of 2015 to only 60 as reported by the Finance and Lease Association (FLA) whose members include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan [...]

2017-02-22T15:06:20+00:00Tags: , |

Secured loan, what is it?

Simply put, a secured loan is only available to property owners (with a mortgage), where the lender retains security against your house to get its money back if you can't repay. The 'secured' bit means the lender gets 'security' not you, so if there are problems it can repossess your home but only as a last resort. [...]