Kent Mortgage

Kent mortgages can be found through a variety of sources. When looking for a mortgage in kent, you need to consider a number of factors: You should consider on using a broker. When inexperienced and having to make a tough decision like this, a broker can help you to make the right decision for your particular circumstances. You should check that a broker you are thinking of using is authorised by the Financial Services Authority (FSA). Directgov provides some great information on choosing a mortgage.

We are from Kent and know what it takes to produce mortages here. We are aware of the history of many parts such as Rochester's links with Dickens, how Chatham Dockyard has developed over the last 50 years and how this has impacted the econonmy in Medway. We are aware of the redevelopment of Chatham and how this is making changes in the way people manage their money and get mortgages. We can help you.

There are many people moving into Kent from other areas such as London, Manchester, Birmingham and so on who may not have as much knowledge of the mortgage situation here in Kent and theymay find this website usful as time moves on and we are able to provide more and more info. If you have information that you think our visitors may find useful. Please let us know.

Kent is an up and coming area with many areas being occupied by people who are disillusioned by more expensive areas such as London and are taking advantage of Kent's new, high speed rail links. These take commuters from towns in Kent to London St. Pancras station. The prices are pretty good and so allow city workers to enjoy cheaper, Kent mortgages whilst still maintaining their London salaries.

Mortgage News

UK house prices are losing momentum, says Nationwide - UK house prices fell for the first time in 10 months in February as icy weather put off house hunters, the Nationwide building society has said. Average property values dropped by 1% compared with January, with the average home worth £161,320. But the annual rate of increase accelerated to 9.2% because prices dropped faster a year ago. Mortgage lending also slowed at the start of the year owing to the hangover from the stamp duty holiday. A separate Land Registry survey of house prices in England and Wales found that in the previous month, January, prices rose strongly by 2.1%. That was the eighth monthly rise in a row reported by the Registry and pushed the average house price up to £165,088 - 5.2% higher than in January 2009.

Mortgage endowment payouts fall at the Pru - The value of maturing with-profits mortgage endowment policies have fallen again at the Prudential, one of the UK's biggest insurance companies. A £50-a-month policy maturing this May after 25 years will pay out £35,834, down from £37,738 for a similar policy maturing a year ago. The company's Scottish Amicable policies have seen similar falls, down from £38,707 to £37,635. The reduced payouts echo those at insurers Aviva and Legal & General. 'Strong fund' The underlying with-profits fund which supports the endowment policies at the Prudential and Scottish Amicable rose in value by nearly 16% in the past year. "The Pru is a strong fund and is the exception rather than the rule," said Laith Khalif, a pensions analyst at Hargreaves Lansdown. "Most other funds don't return anything like this." However, the continued fall in maturity payouts reflects the fact that much higher investment returns were earned in years gone by, which no longer influence the value of policies maturing now. For instance, equivalent 25-year polices which matured four years ago, in 2006, were worth £46,892 for Prudential investors and £47,872 for Scottish Amicable savers. David Belsham, the chief actuary at the Prudential, said his firm was still giving its customers a strong investment return. "Prudential's with-profits has yet again delivered what we said it would - good annualised returns for our customers over the medium to long-term," he said. "Our consistent approach to smoothing and bonus setting has served our policyholders well, protecting them from the full impact of volatile investment condition." Missed targets The Prudential has 143,000 customers who are paying into its with-profits mortgage endowment policies and 318,000 who are paying into its identical Scottish Amicable policies. Two years ago all the Prudential and 98% of the Scottish Amicable policies were still on target to pay off the mortgages with which they were associated. A growing number now seem likely to miss their aim. Of the 14,871 Prudential policies which matured in the past year, 3,823 (26%) did not meet their repayment target. The average shortfall, compared to the size of mortgage they were supposed to pay off, was £1,100. With the Scottish Amicable, just over half of the 37,663 policies that matured last year missed their target amount, though with an average shortfall of only £850. Bigger falls With-profits investors with other big insurers, such as Aviva and Legal & General (L&G), have seen worse downturns in their expected payouts. Two weeks ago the L&G revealed that only 5% of its endowment policies were still on target to hit their mortgage targets. A maturing 25-year policy, based on premiums of £50 a month, is paying out £34,486 this year, 5% down from the £36,414 payout a year ago. A year ago, L&G thought that 24% of its mortgage endowment policies would still produce enough to pay off their customers' home loans. At Aviva, maturity payouts have fallen by even more. A £50-a-month policy, maturing in January after 25 years, was worth just £27,884 if invested in the insurer's old Norwich Union fund - one of the three with-profits funds it runs. That payout was 16% lower than last year's of £33,287. In 1998, at the height of endowment payouts, an equivalent Norwich Union 25-year policy would have paid out just over £100,000 on maturity to an investor. Nearly all Aviva's mortgage endowments are thought unlikely to hit their original targets.