Mortgage holders are spending thousands of pounds unnecessarily on their mortgage through one small oversight according to new research by Comparethemarket. According to the research, homeowners could cash in on significant savings and cut down their mortgage term, simply by making small but regular overpayments to their provider. Homeowners on a fixed rate repayment mortgage…

The amount of people searching for a mortgage who meet the qualifying criteria for every deal on the market is as low as 3.5%, according to new analysis from Experian. One in five (22%) of those using pre-qualification websites to find a mortgage meet the initial qualifying criteria for every lender on the market. But…

New figures from UK Finance show that consumers spent almost £16.9 billion on credit cards in May, a year-on-year increase of 2.3%. The annual growth rate of outstanding balances on credit cards stood at 4.1 per cent in May 2019, continuing the downward trend from its recent peak of 8.3 per cent at the start…

New research from KPMG has found that 30% of the UK public have changed their spending as a result of Brexit uncertainties. A fifth (22%) have avoided making big ticket purchases with almost one in ten (9%) missing out on overseas holidays and 6% avoiding investing in the economy via stocks & shares. Meanwhile, 8%…

The number of residential and buy-to-let mortgages taken out in June 2019 has fallen as has pound-for-pound remortgaging, according to UK Finance. The mortgage trends update also showed that there was a ten per cent drop in overall remortgaging activity in June 2019, compared to the previous year. This has been driven largely by a…

Analysis from Barclays Mortgages shows the average upfront cost of moving home in the UK, including estate agent, legal and surveyor fees, land registry, EPC and stamp duty, is £7,641, on top of the purchase price. Meanwhile, the average unexpected associated costs can add up to £1,690, meaning homeowners are stumping up £9,331 on average…

New figures released by UK Finance has shown that whilst the numbers of homeowners in arrears have remained at a historic low there has been an increase of 15% (1,270) in the number of repossessions in the second quarter (Q2) of 2019. UK Finance said repossessions were still well below levels experienced between 2009 and…

New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2019 was 24, 38.5% lower than in the second quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.07% in the twelve months to June…

New research from online mortgage broker Trussle has reveals that 61% of current and soon to be homeowners in the UK don’t fully review their mortgage agreement before signing it, and half (50%) claim they only understand some of the language used in paperwork associated with the house buying process. Speaking to 2,002 homeowners and…

The finalists for the third annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect and hosted at the Credit Services Association’s UK Credit and Collections Conference, brings together credit and collections technology executives to honour the industry’s…

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