Everyone in this day and age really needs to keep a close eye on mortgages in the UK, we try to look for the best mobile apps and a new one to hit the Apple App Store is the free ‘UK Mortgages’ by Mortgage Brain. This seems like a good app, and with the latest news reporting the Eurozone crisis where over 100,000 people could potentially lose their homes if repayments rise by just £20 a month.
The Mail Online reports that the Bank of England has issued a warning, apparently UK lenders are being hit by higher borrowing costs, families have to prepare to pay more as such increase is passed down to customers. Looking more into this we see that The Guardian are reporting that the first-time buyer mortgage lending has risen to 74% before stamp duty axe, this adds up to a staggering 24,000 in March for the number of mortgages advanced to first-time buyers with 98% taking out repayment loans, please visit the sources above for the full details.
Now back to the UK Mortgages app via the App Store, this application has everything you need to make life easier and manageable. It is very fast and key features include the most comprehensive mortgage product data, which allows users to find, out which mortgages are currently available, this is updated twice a day for accuracy. It also comes with a find a broker in your local area, and many different calculators to help you work out costings.
The calculator’s offer: How much can I borrow? How much will it cost me? What happens if interest rates change? How much will stamp duty cost me? What are the effects of overpaying my mortgage? And Can I save money by remortgaging?
The latest update now includes the Stamp Duty calculator; this has been updated to reflect the recent Government changes to First Time Buyers and properties over £2m.
Please do hit the link above and let us know what you think of the UK Mortgages app.
