find mortgage and refinancing information Akron Ohio

Channel:

We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
 Please check back frequently as new topics are added and current topics are updated daily.

 

The Debt Test: Are You Making Out a Mountain Out of Your Mortgage?


According to the Council of Mortgage Lenders, first-time buyers are the most susceptible group of homeowners to debt, as they are more likely to have higher loan-to-value ratios and commit a higher proportion of their income to mortgage repayments. Despite their susceptibility to debt, there is evidence which indicates that insurance take-up and employee benefits provide recent first-time buyers with a safer foundation than the general population of mortgage borrowers.

The Council of Mortgage Lenders (CML) has become increasingly concerned about the ability of current and future home-buyers to pay back mortgages in the event of changing circumstances. Over the past five years, the CML and its partners within the Sustainable Home-ownership Initiative, have sought to improve this issue. Contributing factors to the problem include increasing personal debt levels and a less certain economic environment. This has provoked concern about the sustainability of home-ownership and consumer understanding of financial products, ensuring that the issue of mortgage risk is at the top of the agenda for the UK Government, industry regulators and public as a whole.

Over the last year, the Sustainable Home-ownership Initiative has debated the most effective move forward to increase home-buyers' awareness of potential debt and protection from unforeseen events with insurance products, specifically Mortgage Payment Protection Insurance (MPPI). The Financial Service Authority is leading the way to help raise awareness of debt prevention with the "Debt Test" initiative.

According to research carried out by the Council of Mortgage Lenders, two thirds of recent first-time buyers say that an online debt test designed to help them assess potential triggers of debt and highlight future borrowing risk would be useful.

The mortgage market is also watched very closely by the consumer research website, moneynet. In addition to tracking market behaviour, property values and homeowner incomes, moneynet have endeavoured to become increasingly proactive about educating their visitors, so they fully understand the complexity of the relevant financial products. In addition to their mortgage comparison service and mortgage protection options, moneynet published a comprehensive mortgage guide earlier this year, as part of its series of consumer product guides. Moneynet isn't the only site to offer enhanced information services; Which? also offers a detailed mortgage guide and mortgage search tool powered by Moneyfacts. Both "Switch with Which?" and moneynet take the consumer through the types of deal available, detailing the different interest rate structures including fixed rates, capped rates, discounted rates, stepped rates and standard variable rates.

The CML state that there is much evidence to show that first-time buyers appreciate this information, including the "debt test", more so than older households. This is perhaps due to the fact that many first-time buyers have to borrow much more for their initial property, due to high prices, and that they have generated more personal debt than their parents' generation. Whilst personal debt remains a major concern for the finance industry, the government and the public, financial stability remains possible with education.

* * * * * * * * * * * *

Resources:

http://www.moneynet.co.uk/mortgage-guide/index.shtml

http://www.switchwithwhich.co.uk/mortgage/index.html

http://www.cml.org.uk/

Rachel writes for the personal finance blog Cashzilla:

http://www.cashzilla.co.uk/


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Thu. March / 28 / 2024

Refinancing - Learning Center  Zing! Blog by Quicken Loans




































































































used office furnishings-supplies-equipment-desks-cubicles-service-counters for sale in Akron Ohio   Die cast model cars for sale in Akron Ohio  
used cars for sale in Akron Ohio   unfurnished homes for rent in Akron Ohio

Click here to
OfficeJax free ad space available here

Find used office equipment in Ohio at www.OfficeJax.Has.It

Find the best fleamarkets at www.FleaMarketWorld.Has.It

www.Akron.Has.It

Find electric powered vehicles at www.NoGas.Drives.It

Akron City directory

Free Automatic Link Exchange

Flea Market World

Find homes for rent
in Akron Ohio
www.homes4rent.has.it

iphone-4-less below wholesale prices

 

Place your AD here. Click here for more details.

Click above to place your AD here

[Back to Top]

Ohio RealEstate

auction news and listings for Akron, Ohio

Akron crafts and hobby news center

best home remedies and do it yourself tips

Akron currency trading

Akron Ohio pet news

Advertising and promotions Akron, Ohio

The Akron blogging news center

Akron Ohio web site design news

Akron Mortgaging and refinancing

Web site design tips

 

HOME | SITE MAP

© 2012 - 2024 All Rights Reserved
Increase pagerank with HitsSurfer

free page rank checker and seo evaluation tools 

first second ARM compare rates find the best rates current in your area lenders read reviews calculator adjustable rate loan home lenders brokers quotes florida houston gmac washington interest only 2nd software debt consolidation reverse senior equity texas maryland options lending bad credit  option one ameriquest chase first banks emc residential california miami dallas est branch marketing home company commercial yahoo online bad credit low credit no credit