“Brokers deem Johnson’s housing benefits pledge irresponsible”

Jun 15, 2022 | Mortgages

One self-inflicted blow to the housing shortage was the decision to change the system of housing benefit payments some years ago. Instead of paying private landlords direct, it was paid to tenants and left to them to pay their rent. Guess what, arrears soared and most pulled out of the sector. The consequences of defaulting on a mortgage are greater still all round. Maggie’s Right to Buy may have been a vote winner, but had long-term (easily foreseen) consequences. This bonkers idea will have still more.

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“Halifax undercuts Nationwide’s record 5-year fixed-rate”

“Halifax undercuts Nationwide’s record 5-year fixed-rate”

How low can you go? Well, pretty low, it seems, although those still sitting on ‘tracker’ mortgages, some of which are contracted to charge bank base rate  plus just 0.25% or 0.5%, are sitting both lower and still prettier. Yes, lenders offering fixed rates under 1%...

“95% mortgages return with government guarantee”

“95% mortgages return with government guarantee”

‘The lesson of history is that no-one learns the lessons of history’. Did no-one tell Rishi that low interest rates, rising property prices and 95% mortgages will become a disaster waiting to happen. Interest rates will rise and property prices will fall, because they...