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    • Million pound mortgages reach five year high
    The number of homes sold at ?1 million and above has tripled over the last five years. ?1 million pound plus mortgages in England and Wales have increased from 2,249 in June 2002 to 6,170 in June of this year, with London accounting for the highest proportion of sales at 58%. Halifax ...

    HSBC reduces fee-free lifetime tracker mortgage rate
    Those seeking a lifetime tracker mortgage should look to the HSBC as it has lowered the interest rate on its fee-free mortgage from 6.45% to 6.44%. Available at up to 90% loan to value, the lifetime tracker follows the Bank of England's base rate at 0.69% above. The new mortgage has been ...

    Mortgage holders seek DIY improvements
    The growing fascination with DIY looks set to grow as ever increasing numbers of mortgage holders make improvements to make their homes more valuable. Halifax figures show that nearly 25% of homeowners who carried out DIY in the last year do so in the hope that it would help increase the ...

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    • Repayment Types

    Fundamentally there are two different ways to pay back a mortgage = interest only or repayment.

    Interest only mortgages enable you to only pay back the interest charges on the loan. The agreement therefore is that you pay back the amount borrowed in a lump sum at the end of the loan term. 

    On the other hand, Repayment mortgages involve paying off an increasing proportion of the loan each month, including the interest charges.

    Repayment mortgages are by far the most popular preference for buyers. One reason people choose the interest only method is if they are confident there salary will greatly increase over time as they are comfortable with paying of a lump sum at the end of the term.

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