General Comments

General Comments: The truth about ISA Mortgages (205 words)
by Potterton - written on 05.03.08
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If a person using an ISA to repay their Mortgage was to become Unemployed or off work due to Sickness or Accident they would NOT be entitled to Means Tested State Benefits if the value of the ISA was over £16,000. The reason for this is the DWP treat the ISA as Accessible Savings. The FSA being the Governments financial watchdog listed Endowments, ISAs and Pensions as suitable methods of repaying an interest only mortgage but made no mention of the DWP rules regarding ISAs. Most Endowments and Pensions used for Mortgage repayment are unaffected as they are not deemed to be accessible Savings. There could be in excess of 500.000 ISA Mortgages in ...

So, how much will you lend me? (1782 words)
by cmh4135 - written on 23.01.07 (Very useful, 883 readings)
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*** PLEASE NOTE: Nothing in this opinion constitutes financial advice. You should always seek advice from a qualified financial advisor who will take into account your individual circumstances.*** A mortgage is probably the single largest financial commitment that any of us are likely to make. Yet, surprisingly, it is one which many enter without giving it the serious thought that it requires. For many, the decision to purchase a property is the part of the process that takes the most time and given the most thought. The mortgage is almost an after-thought which starts and ends with “how much will the bank let me borrow?” How much the bank ...

General Comments: First time buyer? What to budget for!! (419 words)
by bkrajiv - written on 05.10.04 (Useful, 418 readings)
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Hi all, I kind of am writing this piece after some serious thinking on whether I should buy my first property or not. What I am going to say may not be true for everyone but it definately requires some thought. With the current house prices / interest rate structure it is too difficult for first time buyers to get on the property ladder. Nothing new huh? Yeah, but why do we still all try and save up for a measly 10-15% deposit? Buying a house/flat etc is not a joke, I personally feel the following are things one needs to consider before taking the plunge. 1. Stamp duty on the property - depending on what the price is , it can be ...