Haslemere & District Messenger – 30th April 2008
TIME TO SORT YOUR MORTGAGE
Any homeowner on a mortgage deal expiring in 2008 – there could be nearly three million of them on two, three and five year deals – should be scanning the market for a replacement now, because the same loan could cost more later in the year..
Richard Brown, chief executive of personal finance website Moneynet.co.uk, says 30% of respondents to his recent survey could face difficulties; nearly 10% fear they will miss mortgage repayments in the coming year, while 22% might use other means of credit to maintain repayments.
Post Magazine UK (Web) – 25th April 2008
INSURERS CRITICISED FOR LACK OF COVER ON DOWNLOAD MUSIC
Many of the UK’s big name insurers are still not paying out for claims on the loss of downloaded music – despite the fact that digital sales now form a massive chunk of the UK’s music purchases according to financial data comparison site Moneynet.co.uk.
With the sales of online music expected to top 160m this year the cost to the consumer of replacing their purchases without insurance is colossal the website said. “It would be a mistake to assume that your home contents insurance will cover your downloaded music should it be lost either through theft or damage of equipment,” said Moneynet.co.uk’s Richard Brown
Telegraph.co.uk – 21st April 2008
DON’T GET CAUGHT BY THE MORTGAGE DROUGHT
It’s not just borrowers with fixed-rate deals who face a nasty rise in repayments – those on trackers could also be hit.
Hardest hit will be those who have previously relied on debt consolidation to bring down the cost of their borrowing. The combination of lender aversion to risk and inability to borrow higher amounts against house values will take this get of jail card’ away from many indebted borrowers and simply mean they cannot afford to cover their monthly repayments. According to Moneynet.co.uk, the finance website, more than one in three home buyers are struggling to cope with repayments on a mortgage debt of more than three times their salary.
Birmingham Mail (Main) – 21st April 2008
GET AHEAD OF THE PACK
Borrowers will have to think like brokers in order to be in with a fighting chance of a decent loan, warns financial data comparison site Moneynet.co.uk. Especially if you have a flawed credit history.
Chief executive Richard Brown explains: “With mortgage lenders swamped by demand and under increasing pressure to clear the backlog, incomplete or inaccurate applications are likely to be rejected out of hand.
“The successful applicants will be those who make the best job of selling themselves to the lender.”
Birmingham Mail (Main) – 21st April 2008
MAKING YOUR WAY THROUGH MORTGAGE MARKET MINEFIELD
Worried about your mortgage? It’s not surprising – experts are warning that one in five homebuyers are concerned about meeting their mortgage repayments thanks to the current economic crisis.
So if you’re worried about your mortgage, what should you do? And where does the current turbulence in the mortgage markets leave first time buyers? We asked experts at mortgage broker John Charcoal and financial data comparison site Moneynet.co.uk for advice.
Sunday Telegraph (Money and Jobs) – 20th April 2008
DON’T GET CAUGHT BY THE MORTGAGE DROUGHT
About 3m homebuyers are likely to have to remortgage in the next year – twice as many as previously thought, experts have told the Sunday Telegraph.
Many could suffer “payment shock” as fixed rates expire and they have to rearrange loans on tougher terms because of the credit crisis.
According to Moneynet.co.uk, the finance website, more than one in three home buyers are struggling to cope with repayments on a mortgage debt of more than three times their gross salary.
HotProperty (Main) – 18th April 2008
LENDING MARKET GETS TOUGHER DAILY
Last week saw the demise of the 100 per cent mortgage, as Abbey pulled the last nothing-down home loan from its shelves.
This is leading to an era in the mortgage market in which the slightest blemish on a person’s credit record – or even a less than flawless application – will have a serious effect on his hopes of a home loan. Indeed, Richard Brown of Moneynet.co.uk foresees a ‘Darwinian’ atmosphere in which perfection is expected.
Eastbourne Herald – 11th April 2008
FINAL SOLUTIONS
Any homeowner on a mortgage deal expiring in 2008 – there could be nearly three million of them on two, three and five year deals – should be scanning the market for a replacement now, because the same loan could cost more later in the year.
Richard Brown, chief executive of personal finance website Moneynet.co.uk, says 30 per cent of respondents to his recent survey could face difficulties; nearly 10 per cent fear they will miss mortgage repayments in the coming year, while 22 per cent might use other means of credit to maintain repayments.
Fife Free Press – 10th April 2008
CHECK THE MARKET FOR THE VERY BEST DEALS
Any homeowner on a mortgage deal expiring in 2008 – there could be nearly three million of them on two, three and five year deals – should be scanning the market for a replacement now, because the same loan could cost more later in the year.
Richard Brown, chief executive of personal finance website Moneynet.co.uk, says 30 per cent of respondents to his recent survey could face difficulties; nearly 10 per cent fear they will miss mortgage repayments in the coming year, while 22 per cent might use other means of credit to maintain repayments.
Financial Advisor (Main) – 10th April 2008
BE PERFECT PR FACE FORM REJECTION, SAYS MONEYNET
Mortgage applications forms will now have to be perfect or face rejection, according to Moneynet.co.uk.
The financial advice website has warned prospective homeowners that mortgage applications are now likely to be rejected out of hand unless the borrower provides an impeccably presented application with all supporting information and a seamless credit history.
Richard Brown, chief executive of Moneynet.co.uk, said: “These are unprecedented borrowing conditions as lenders continue to be squeezed. With mortgage lenders swamped by demand and under increasing pressure to clear the backlog, incomplete or inaccurate applications are likely to be rejected out of hand.”
Mail on Sunday (Mail on Sunday 2) – 6th April 2008
FIRST TIME BUYERS CAN BEAT THE MORTGAGE MELTDOWN
Hopeful first-time buyers are set to be the biggest victims of last week’s mass exodus from the mortgage market.
The number of mortgage deals on offer has already shrunk by two-thirds since last autumn.
Take care with your application. Richard Brown of financial information provider Moneynet.co.uk says lenders are being brutal when they sift through applications. “If there are mistakes or omissions in you application, it is likely to be rejected out of hand. You need to sell yourself to stand a chance of getting a loan.”
The Scotsman (Main) – 5th April 2008
TROUBLED TIMES FOR MORTGAGE MARKETS
Potential home buyers, people wanting to remortgage and the millions approaching the end of fixed-rate deals this year have experienced a dark week with more lenders pulling products and pushing up rates.
As well as fewer products being available, lenders are becoming stricter about who they will give money to. Moneynet.co.uk, a comparison site, has warned that anyone with flawed credit histories is likely to get through stringent new lending conditions.
The Guardian (Money) – 5th April 2008
DEAL OR NO DEAL: WHO WILL GIVE YOU A HOME LOAN?
It was a case of blink and you’ll miss them this week as banks and building societies frantically pulled their best mortgage deals off the shelves, and in some cases shut up shop completely.
Data comparison site Moneynet.co.uk this week warned that mortgage applications run the risk of being rejected unless the borrower provides an impeccably presented application with a seamless credit history. “With mortgage lenders swamped by demand and under increasing pressure to clear the backlog, incomplete or inaccurate applications are likely to be rejected out of hand,” it claims.
Mortgagestrategy.co.uk – 4th April 2008
LENDERS ARE REJECTING APPLICATIONS OUT OF HAND, WARNS MONEYNET.CO.UK
Moneynet.co.uk is warning borrowers that applications submitted with insufficient data or poor credit history is likely to be rejected out of hand.
The comparison site today advises would-be borrowers that they will need to double check their applications if they are to stand a chance of getting a mortgage at competitive rates even if they have had no difficulties previously.
Hot Property (Main) – 4th April 2008
DEBT WORRY GATHERS PACE
As the credit crunch bites, more are finding themselves having trouble with both mortgage payments and household bills.
Meanwhile, Moneynet.co.uk has found that over a third of us are dangerously exposed in terms of mortgage debt, with a survey find that 35 per cent of respondents are juggling a mortgage more than three times their gross annual salary.
Press enquiries:
Andrew Hagger, PR & Communications Manager 07887 717763
(Also available for enquiries outside office hours)
David Andrews/Cathy Tully, David Andrews Media Ltd: 07941 255855 /
01273 774109 / 07747196854
Richard Brown, Chief Executive: 0208 313 9030
Consumer enquiries: 0208 460 2833 /
info@moneynet.co.uk
Moneynet.co.uk is the UK's longest established online personal finance research and data analyst company. The company offers consumers a choice of thousands of low cost financial services products. From mortgages, personal loans to motor, home and medical insurance, credit cards, savings accounts and best buy products, Founded by chief executive Richard Brown, Moneynet is one of the most comprehensive consumer finance online services of its kind in the UK.
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