Monthly Archives November 2011

100% Mortgages are Back! – Or are they..?

A new product that has appeared on the mortgage scene is being called a 100% LTV Family Guarantee Mortgage. This has been designed for families who wish to help their children get on the property ladder. As the name suggests, a family member must provide a guarantee and that guarantee must come in the form of security on their property and must cover at least 25% of the child’s new mortgage. What’s more, the security on the family member’s property must not take the total combined liability of all the secured debt (mortgages, loans etc.) above 75% across both properties. eg: Parents have
Read More

The Greek Referendum

How many European leaders slapped their brows when they heard the news about the proposed referendum in Greece? I’d hazard a guess at ‘quite a few’. Having spent ‘hours’ in meetings discussing the way forward for further bail-outs for Greece the Greek Prime Minister decided his public should vote on the matter. Why? Can you imagine what would have happened here in the UK if the ConDems had allowed us to vote on the austerity measures? More people would have voted than they did in the elections and there would probably have been a unanimous result of a resounding ‘no’ to cuts.
Read More

What’s this? My Overdraft Protection isn’t Compulsory?

For as long as I can remember I’ve had a monthly entry on my bank statement that was called ‘O/D Protection’. I thought this was a compulsory part of having an overdraft and for a time I was occasionally dipping into the overdraft so protection seemed like a good idea. It wasn’t until my bank changed the title of this to ‘Payment Protection’ that it caught my attention. What with all the automated sales call about PPI I keep receiving I thought my bank had taken it upon themselves to mis-sell me some without me even knowing about it. I spoke
Read More