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Spring 2009

Welcome to this edition of “The Mortgage”, a quarterly newsletter from Eden Mortgages. This month, check out the article “Think Ahead” highlighting the importance of protecting your monthly mortgage payment against redundancy and illness.

Staying with the ride...how recent changes affect you

A lot has happened over recent months to help create a more stable economic environment in which consumers and businesses can endeavour to borrow with more certainty. The Government has injected billions of pounds into the money markets. It has also taken stakes in some of the UK's largest banks.

And more recently we have seen further developments such as 'quantitative easing', which is designed to increase the money supply and also the Government's 'insurance scheme' to cover bad debts held by the banks. This protection against some of the future losses on past investments may mean the banks will not have to reserve so much, and thus have more to lend to individuals and businesses.

Read more...

Staying put...re-mortgage or secured loan

There are good arguments for upping sticks and moving and equally good reasons for remaining at home.

If you adhere to the latter, then read on, as many homeowners up and down the country are doing up their homes in the hope that once the housing market stabilises, their most highly prized asset may sell for the best possible price. Or if they don't want to sell, they'll have a home that better suits their needs.

With money in the bank earning next to nothing these days, putting it to work on one's home can make economic sense, providing you spend the money wisely.

Read more...

Think ahead....Accident sickness and unemployment insurance

With job losses on the rise, taking out unemployment cover may be advisable in order to protect your outgoing loan repayments.

One way of securing this cover is via an Accident, Sickness and Unemployment (ASU) policy, which will pay out a percentage of your income for generally up to 12 months, if you lose your job or cannot work because of illness.

Read more...

Getting on the property ladder

The Government recently unveiled a deal worth more than £400m aimed at helping first-time buyers to purchase their own home.

So far more than 130 developers have agreed to offer the HomeBuy Direct scheme, which the Government claims will help up to 18,000 first-times buyers to purchase a home at sites across England aided by an equity loan, part-funded by the Government and the developer.

The equity loan, which will be free of charge for five years, can be used as a deposit and can cover up to 30% of the purchase price.

Read more...

Goooal!.....bagging a bargain

The property market may have ground to a near halt, but there may be a way to get around this, although it certainly isn't for the faint-hearted.

With many bargains coming onto the market from distressed sellers, builders desperate to shift new builds and auction houses, you may feel it's a shame to miss out, simply because you can't sell your own home, at the price you want.

So this is how it works. If you have sufficient equity in your property, you re-mortgage your existing home, so that you have a sizeable deposit of at least 25 per cent for the purchase price of a new property.

Read more...

Do the right thing....life assurance

If you have debt and dependants, on either a personal or business level, then you should consider certain options.

Personal Protection
Of the two main forms of Life Assurance, term assurance is the cheapest form, as it is designed to cover you for a set period only - normally the term of a mortgage or other loan.

Business Protection
If you run a business, you may need some form of business protection. There are broadly three main types of cover: key person insurance, partnership or shareholder cover and business loan protection.

Read more...

In this Issue:

1. Staying with the ride...
2. Staying put...
3. Think ahead...
4. Getting on the property ladder
5. Bagging a bargain
6. Life Assurance