Iain Dale 3 November 2018 9:00 AM 3 November 2018 9:00 AM Share Twitter Facebook LinkedIn Email Whatsapp You probably haven’t heard of the loan charge. I hadn’t until a couple of months ago, when I told listeners to my LBC radio show that I would soon be interviewing Mel Stride, the financial secretary to the Treasury. Following this, I was bombarded by texts and emails from something called the Loan Charge Action Group and its many, many sympathisers. I then became acquainted with what might be the next storm to hit the government. The messages, many of them emotional and some borderline aggressive, told the same story: hundreds of what politicians like to call ‘hardworking families’ were facing unpayable and unjust tax bills as a result of a Treasury U-turn on what previously had been a perfectly legal tax scheme. Freelancers and contractors had been allowed to be paid through an employee benefit trust; the payment was via … [Read more...] about The loan charge scandal: the Treasury U-turn destroying the lives of hardworking families
Conventional home loan requirements
Paul Ausick 24/7 Wall Street Published 8:04 AM EDT Sep 24, 2018 The average credit score for homebuyers seeking a 30-year fixed-rate mortgage is 755. That rate applies to what are known as conventional, conforming loans. Those are mortgage loans for 80 percent of the value of the property for an amount of up to $453,100 nationally, but that could be higher in high-cost areas. So how can you buy a home with a credit score of less than around 650? The answer is it depends on where you want to buy, how much you want to borrow, and how likely is it that you'll make your payments after considering all your other debts. There are then three major factors that determine whether or not you can get a mortgage: your credit score, the loan-to-value (LTV) ratio, and the debt-to-income (DTI) ratio. The two federally regulated agencies that buy mortgage loans from lenders, Fannie Mae and Freddie Mac, have eased both their LTV and DTI limits, making it easier to qualify on those two factors. … [Read more...] about Poor credit score but need a mortgage? Best, worst cities to move
(BPT) - Buying a home is an exciting process, but for many people it can also seem out of reach. While many renters would like to buy, there are several factors that may lead potential homebuyers to believe they may not be ready. These include credit score requirements, income and debt levels, and the common myth that a 20 percent down payment is needed. Here is some good news: Qualifying for a mortgage may not be so far out of reach.While it is true that borrowers with stronger credit profiles — FICO scores of 720 and higher, low debt-to-income (DTI) ratios, and cash reserves — generally receive better mortgage terms, there are products in the market that can enable access to affordable, prudently underwritten mortgage financing.Down payment is routinely cited by prospective homebuyers as the largest hurdle to homeownership, but low down payment mortgages are widely available in today’s market. These include conventional loans with private mortgage insurance (MI) and … [Read more...] about Take a second look at your homebuying options
For those considering whether now is the moment to buy, these are disorienting times. When Kate Faulkner recently looked for a home in the city of Peterborough — a growing location for London commuters — she found comparable properties within one square mile whose prices were going up, down or were completely flat.“There are as many different markets in one city as there are across the country,” said the founder of Property Checklists, a website and advice provider. With price growth slowing in former hotspots, transaction levels stuttering and an uncertain period for Britain’s economy in prospect, the housing market has been drawing in its horns. Buy-to-let investors are hemmed in by new taxes and regulations, while owner-occupiers are reconsidering high-risk property moves as interest rates start to rise and mortgage affordability rules remain tight. This week, Bank of England governor Mark Carney delivered a stunning warning that house prices … [Read more...] about Is UK property still a good investment?
Introduction 1. Mr Speaker, this is my fifteenth budget address as a Member of this Parliament. 2. It is my seventh budget address as Chief Minister. 3. And in delivering it, Mr Speaker, I am already facing my fourth leader of the Opposition! 4. Mr Speaker, as part of my address on this second reading of the Appropriation Bill, I have the honour to present the estimates of Government’s revenue and expenditure for the year ending 31st March 2019. 5. I also have the honour to present the out-turn for Government’s revenue and expenditure for the year ended 31st March 2018, which was the sixth full financial year of a Socialist Liberal Government since we took office in December 2011. 6. Mr Speaker, this address comes twenty four months after the decision of the British people in referendum to leave the European Union. 7. In that respect, Mr Speaker, and given that it is now increasingly likely that the United Kingdom will leave the European Union on the 29th of … [Read more...] about Chief Minister budget speech