Thrifty Loans

Different types of mortgage explained

There are many different types of mortgage available in the UK market. Let’s see what they are all about. Standard Variable Rate Often shortened to SVR, this pretty much says what it is. It the standard rate offered by the lender and it can vary because essentially it is linked to the Bank of England base rate. [...]

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House prices still accelerating upwards

Greater London still heads the list of fastest rising house prices, but it has now been joined by a south coast contender. According to figures from the Land Registry, property prices increased by 15.6% in the year to April in the capital and also in Brighton & Hove. On average, over the whole of England and [...]

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Bogus payslips back up mortgage applications

It seems that fake payslips are being sold on the Internet to enable borrowers to show their high income so that they can take out loans and mortgages that they cannot really afford. This is of course a fraudulent practice. There has been a proliferation of websites offering to provide bogus salary slips without any checking [...]

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Mortgage approvals down

Mortgage approvals have fallen to their lowest level for twelve months, according to the Bank of England. Their figures show that approvals dropped by 5,000 from March to a figure of 107,000 for April.The amount of money lent on homes fell from £9.4bn in March to £8.9bn in April – the lowest for seven months. This [...]

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