Stress Test
| Use attributes for filter ! | |
| Google books | books.google.com |
|---|---|
| Originally published | April 8, 2013 |
| Authors | Richard L Mabry |
| Genres | Mystery |
| Christian Fiction | |
| Medical Thriller | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2358611 |
About Stress Test
THEY MAY NOT HAVE ENOUGH EVIDENCE TO CONVICT HIM, BUT THEY HAVE ENOUGH TO RUIN HIS LIFE. Dr. Matt Newman thought he was leaving his life as a surgeon in private practice for a better one in academic medicine. . . .
Laura Kuenssberg: Inside the high-stakes soap opera that led to political chaos
... So why did our politics turn into a chaotic, high-stakes soap opera that left the civil service exhausted and the Conservative Party struggling to move on? How close did the British state come to implosion, and how did the conventions, checks and balances that have held it together for centuries come through their most prolonged Stress Test in a generation? To answer these questions, I have spoken to dozens of senior politicians, staffers and former top officials to find out why they believe the era we have all just lived through was so wild...
UK banks can withstand fresh crisis, key test finds
... In its Stress Test of the financial system, the Bank said the UK s eight largest lenders could survive a worst case scenario of plunging house prices, a deep recession and soaring inflation...
Mortgage deals: Five new products aiming to beat interest rates rise
... Removing the Stress TestLenders want to know that you can afford your mortgage in the future even if interest rates rise - this is known as the Stress Test...
Four-day week trial ends and some firms make it permanent
... The main issue we ve had is that we haven t really been able to Stress Test it properly in a full pelt environment...
What an interest rate rise would mean for your finances
... Every mortgage applicant since 2014 would have needed to prove in Stress Test that they can pay at a rate of about 6% or 7% - the idea being that a small rate rise may be uncomfortable, but not unmanageable, for homeowners...
News Daily: Johnson to address new MPs and Ben Stokes wins SPOTY
... 17:00 The Bank of England publishes the results of the annual Stress Test of the UK banking system, covering major banks and building societies...
Hong Kong protests: China flag desecrated as fresh unrest erupts
... What of the airport protest? Protester groups online had called for a Stress Test of the airport on Sunday...
Mortgage deals: Five new products aiming to beat interest rates rise
By Simon Read & Jennifer MeierhansBusiness reporters, BBC News
Mortgage lenders are offering new products to people struggling to borrow money because of climbing interest rates, which The Bank of England recently raised for the 12th consecutive time, to 4. 5%.
People with mortgages tied to this base rate are now paying hundreds more a month and first-time buyers are struggling to get a deal at all.
As a result, banks and building societies are offering deals for first-time buyers without a deposit - or people trying to renew their mortgage.
Here is a look at five new products lenders are offering, and whether they might catch on.
No-deposit mortgagesYou can apply for a new deposit-free deal through, the UK's fourth largest building society. It is available for the same amount as you currently pay in rent and unlike other 100% mortgages, it doesn't need a guarantor.
But when The Bbc went to the North Yorkshire market town The Building society is named after,
Holly Wardman lives in the nearby village of Carleton, where rent is cheaper, and put her £625-a-month rent into The Company 's affordability calculator.
" It said I could borrow just over £116,000, there's no way I'm going to get anywhere in Skipton for that money, " the 24-Year -old teacher told The Bbc .
Chris Sykes, technical director at mortgage broker Private Finance, said: " The Deal won't help everyone, But will maybe allow Some People to get on the Property Ladder . "
If you have parents to turn to there are deals that allow them to help, said David Hollingworth, associate director at L& C Mortgages. For example, the Barclays Family Springboard mortgage uses your family or friends' savings to get your own no-deposit mortgage and pay them back with interest.
Smaller lenders like Buckinghamshire, Loughborough and Tipton have similar schemes. " But these require additional collateral like cash or equity in the parental home, " Mr Hollingworth said.
The idea that other lenders could follow Skipton in offering zero-deposit mortgages may not be welcomed by everyone - riskier mortgages with a high loan-to-value ratio were a cause of the 2008 financial crash. But mortgage expert Andrew Montlake said it could work if the loans were " underwritten sensibly".
Removing the Stress TestLenders want to know that you can afford your mortgage in The Future even if interest rates Rise - this is known as the Stress Test .
Many potential first-time buyers are being turned down for this reason. But a long-term fixed-rate mortgage reduces The Risk to lenders and can therefore help buyers get on The Ladder .
Kensington Mortgages, which was taken over by Barclays in March, has a 40-Year deal, the longest currently on offer.
Mr Sykes at Private Finance said: " I would love to see more similar products in The Future . More in The Market would encourage competition and lower rates. "
But Mr Hollingworth at L& C Mortgages warned that rates can be high at The Moment so locking in for a long time " won't be for everyone".
Zero-interest loans for green improvementsWhile mortgage rates have been climbing, so have energy bills - although the with a new price cap.
If you are looking to make your home more energy efficient to Save On bills, there are a range of interesting offers from lenders to encourage you.
From 1 June, Nationwide building society will offer a 0% loan to existing mortgage customers wanting to spend up to £15,000 on energy-efficient home improvements Such as solar panels, window upgrades or an Electric Car charging point.
Other lenders may follow suit, said Mark Harris , chief executive of mortgage broker SPF Private Clients.
Too old to borrow?Some older people looking to renew or Take Out their first mortgage are being turned away by lenders because the length of time they have to pay back is Too Short .
Some lenders have become more flexible about age limits, with deals available for borrowers often until they reach 80.
" It has been an opportunity for niche lenders to enhance their criteria around older borrowers and take other factors into account, Such as rental income or pensions, " said Mr Sykes.
Smaller building societies around the Country - Such as Hinckley & Rugby, Tipton, and Teachers - have been particularly open to older borrowers, as long as they pass their usual affordability tests.
Overpaying to reduce overall costIf you're in the fortunate position to be able to overpay on your mortgage you could save thousands on the overall cost.
For instance, with a £350,000 loan you could normally overpay up to 10% a Year - up to £35,000 - saving you roughly £1,600 a Year on a 4. 5% mortgage.
You would usually be charged a redemption penalty for repaying More Than 10% of the loan, which can make it unwise - But NatWest Bank has doubled the amount it allows borrowers to overpay, to 20%, which means savings can be Even Higher .
" It's a good innovation which we hope to see other lenders follow, " said Mr Sykes.
Related TopicsSource of news: bbc.com
