First-time buyer mortgages have recently been largely washed out from the mortgage market and the remaining ones are not very cheap. One of the most difficult problems a first-time buyer is facing is a need to put down a large deposit for the property. This is why 90% loan-to-value mortgages, offered by Yorkshire and Clydesdale banks are worth having a closer look at.
There is a choice of three fixed-rate mortgages, all of them with initial rates fixed for a period of 3 years, until 31st July 2014.
A 3-year fixed rate mortgage with a 95% loan-to-value comes with a £599 arrangement fee and interest of 6.99% during the initial term. After that it will turn into a standard variable rate, which currently stands at 4.59%. Early repayment charges are 6% in the first year, 5% in the second year and 4% in the third year. Overpayments, made after the end of the fixed term period, are free of charge. Continue Reading
After having been defeated in the legal battle over PPI mis-selling, banks are now under obligation to refund millions of pounds to their customers.
Those who have a PPI (Payment Protection Insurance) that has been sold to them together with a loan, a mortgage or a credit card, are advised to check their PPI policies now in order to see if they have been mis-sold it.
Anyway, those who are bankrupt, struggling with debts and have an IVA (Individual Voluntary Agreement) or a debt management plan, will be unlikely to get a direct cash refund for a mis-sold PPI.
Payment Protection Insurance (PPI) mis-selling case has been big news recently, and thousands of customers are now urged to check their eligibility for a refund, following the court ruling that will make the banks pay out billions in compensations. Before filling up a form and sending it to your bank or other credit provider, it is good to check what grounds you might have for a PPI mis-selling claim.
