- The think tank Policy Exchange has been on the magic mushrooms.
- They have come out with a corker this morning stating that interest rates could be raising to 8% by 2012.
- Mon 23rd Aug 2010
- Over 1.2 million people take out pay day loans at an average 2689% APR.
- These are genuine loans and should not be mistaken for dodgy deals provided by loan sharks.
- Mon 16th Aug 2010
- Mortgage rates keep getting better and better.
- HSBC have today announced a market leading tracker mortgage at 1.69% + base for life.
- Tue 3rd Aug 2010
First Time Buyer
- Trumpo mortgage advice is free and is provided by FSA regulated financial advisers
- Our trusted advisers will help you find the lowest mortgage rates
Buying your first home
When stepping onto the first rung of the property ladder most will have saved up a deposit. The bigger the deposit, the better the mortgage rate that can be obtained. It's crucial that you budget well and don't overstretch yourself, always try and leave some spare cash for maintenance and the odd night out.
Some first time buyers are very enough to have parents who will guarantee the mortgage. Due to the cost of houses today more and more lenders are accepting parental guarantees for first time buyers. Be absolutely aware however that the guarantee means that if you can't pay the mortgage then your parents or guarantor will be completely liable for that debt and the associated monthly payments.
Realistically you should be looking at borrowing no more than 4 x your salary. There are deals out their allowing you to borrow more, but we would say that these high multiple mortgages should only be taken out by professional people accountants, doctors and solicitors for example, who have structured and sizeable increases in salaries as their careers progress.
