Figures that have recently been released have shown that mortgage lending for the month of October rose by around 7 percent, with gross mortgage lending totalling £18.7 billion for October compared to £17.5 billion for September. However, whilst mortgage lending for the month has risen compared to the previous month officials have said that lending [...]

According to an industry expert people with commercial mortgages could enjoy some good news, as it has been predicted that in the coming months interest rates could fall to as low as 2.5 percent. One industry experts has said that it is likely that the Bank of England will soon cut the base rate by [...]

The base rate in the UK has fallen dramatically over the course of the last year, with the rate falling from 5.75% to 3%, with a recent huge interest rate cut of 1.5% this month alone. The Prime Minister, Gordon Brown, said that cutting interest rate was vital in order to weather the global financial [...]

A policymaker from the Bank of England has said that the recent rate cuts are going to take some time to take effect and feed through to the economy. Andrew Sentance reckons that negative performance indicators in the economy will continue into next year despite the recent drastic rate cuts, as these will need time [...]

The recent collapse and part nationalisation of Bradford and Bingley came as a shock to some, and none more so than the many buy to let landlords that have been affected by what has happened to the lenders. The Bradford & Bingley has been a primarily buy to let lender, and many landlords may have [...]

According to recently released figures there was a slight increase in the level of mortgage approvals in the UK during the month of September compared to the previous month. There were 21,342 mortgages approved for the month of August, and there was a slight increase for September, where 23,422 mortgages were approved. Whilst the slight [...]

Over the past three years there has been a marked rise in the number of mortgage brokers under the watchful eye of the UK’s financial regulator, the Financial Services Authority, with a rising number of brokers being fined for malpractice and mis-selling. The FSA has been cracking down particularly hard over the past year as [...]

As most people are only too aware the value of property has been falling month on month for the past year, and property prices have plummeted since they hit their peak last October. Many homeowners have seen thousands of pounds wiped off the value of their homes in the space of just one year, and [...]

Recently released figures have shown that repossession levels have soared recently, and that in the months to come the number of repossessions compared to last year could rise even further. Figures from the Financial Services Authority have indicated that repossession levels increased by around 71% between April and June of this year compared to the [...]

Over recent months the level of property sales in the UK has plummeted, and estate agents have reported that on average they have been selling less than one property a week. Industry officials have now reported that the low level of property sales has been driving down the value of homes, and one major lender [...]

According to a recent report homeowners that are looking to sell their properties are being forced to slash their asking prices in order to secure any hope of selling their property in the current financial climate. Fears over negative equity due to falling property prices, coupled with difficulties in obtaining affordable mortgages, has left many [...]

Between last December and April of this year the base rate was cut three times, each time by 0.25%. In a surprise move earlier this month, a day ahead of the October Monetary Policy Committee meeting, the Bank of England cut the base rate by a further 0.5% taking it to 4.5%. it was hoped [...]

A recent report has suggested that the house price falls that are currently being experienced in the UK are actually worse than those seen in the 1990s. In fact, the data suggests that in the past twelve months the average UK home has lost more in value than the whole of the period in the [...]

Since the onset of the global credit crunch consumers in the UK have been affected in many ways, with the cost of borrowing rocketing and with availability of finance in all sectors becoming more restricted and difficult. Many consumers have found that whilst they were able to get finance with relative ease a year or [...]

According to recent report the Nationwide Building Society is planning to pass on part of the latest base rate cut, although it will not be passing on the full rate cut to borrowers. Officials state that as of the start of November Nationwide will be reducing the interest rates on its standard variable rate mortgages [...]

The financial news has been filled with stories about problems relating to payment protection insurance or PPI, with evidence that this insurance has been mis-sold to consumers for a number of years, and that lenders were using a range of tactics to try and make borrowers take out this cover when taking out finance.

The value of properties across the UK has been falling over the past year, and it is thought that house prices now are around 13% lower than they were at their peak, which was last October. However, despite the house prices falls the ten year housing boom over the past decade means that the cost [...]

According to a recent report lending amongst UK banks is getting even more difficult, and many of the banks and building societies in the UK are set to cut their lending level even more than they have over the past year, since the onset of the global credit crunch. This data comes from a report [...]

Industry officials are warning that consumers need to make sure that they are vigilant about the fees and additional charges that are being applied to many mortgage products, as these can be very expensive and can really bump up the cost of the mortgage loan. Officials have stated that many people that are looking for [...]

PPI or Payment Protection Insurance has been at the centre of controversy for some time, with investigations revealing that in many cases this costly insurance cover was being mis-sold to consumers who did not want it, did not need it, and could not even benefit from it in some cases. PPI is a type of [...]

Over the past year many homeowners have lost their homes to repossession as a result of falling behind on mortgage repayments as credit conditions have become more difficult and living costs have soared. With the financial markets and the housing markets in their worst state in decades the government has decided to take action and [...]

The effects of the global financial crisis are being reflected in the rising number of people seeking advice about their debts, according to officials from the Citizens Advice Bureau. The CAB claims that over the past year the level of enquiries relating to debt problems has soared by one third, and over the past few [...]

Industry officials have claimed in a recent report that many of the properties going up for sale in London are up for sale for three months or longer. The slump in the housing market has resulted in many homes stagnating on estate agents’ books, with many buyers either unwilling to buy due to falling house [...]

As many news reports have shown the number of properties being sold in the UK has plunged over recent months, and homeowners that are looking to sell up are suffering real problems. Many people cannot get a mortgage to purchase a property at present because of the tighter credit conditions, and many others do not [...]