Figures that were recently released by the Bank of England have shown that for the month of January mortgage approvals for property purchases levelled out, standing steady at 31,000. (more…)
Tags: mortgage approvalsFigures that were recently released by the Bank of England have shown that for the month of January mortgage approvals for property purchases levelled out, standing steady at 31,000. (more…)
Tags: mortgage approvalsRecently released figures have suggested that the cost of renting a home in the UK has been falling, and this is as a result of a rising number of property owners putting their homes up for rent because they cannot sell them in the current climate. (more…)
Tags: rent costsAccording to a recent report there has been a notable rise in the number of tenants being evicted from private landlord properties, and this is as a result of the landlords being unable to keep up with repayments on the mortgage on the property, thus resulting in repossession of the property. (more…)
Tags: tenant evictions, landlord mortgages unpaid, shelterSince the onset of the global credit crunch credit conditions and mortgage lending have become very restricted, and many people are finding it difficult to get a mortgage or other type of credit, which has had a severe knock on effect on many different industries. (more…)
Tags: house prices, property sales, first time buyers, credit crunchWith the world in a recession, house prices in the UK have fallen to levels not seen since March 2005. There has been a drop of 15.1% in prices in the past few months and in January alone, the housing market suffered a 0.8% decrease in prices. (more…)
Tags: real estate, house pricesPreviously troubled and now nationalised bank Northern Rock has announced in the past few weeks that it is making a multi-billion pound return to the mortgage market, and will be offering mortgage loans of 90 percent of the property value to eligible consumers. (more…)
Tags: northern rock mortgages, 90% mortgages, northern rockFor homeowners the ten years leading up to the third quarter of 2007 were very fruitful in terms if finances, the main reason being that house prices rocketed, and those that were lucky enough to own a property saw the value of their home soar and the equity in their properties shoot sky-high. (more…)
Tags: house pricesA recent report has indicated that it is unlikely that there will be any significant increase in the availability of home loans in the near future. (more…)
Tags: council of mortgage lenders, mortgages, home loansAccording to a recent report a number of lenders are offering mortgages that do not actually exist, which is causing problems for many buyers who think that they have found the perfect mortgage deal only to find that there is no mortgage deal to be had. (more…)
Tags: mortgages, 90% loan to value, first time buyersOver the past couple of years we have all become used to seeing a variety of advertisement from debt companies that offer to take control of our finances and debts, clear our debts within a relatively short space of time, and leave us debt free with no hassles or problems from creditors. (more…)
Tags: debt management firms, clear debts, Office of Fair TradingFor the first time in history, the bank rate charged by the Bank of England stands at 0.5%, the sixth straight cut to the rate in an effort to revive the sagging economy. Another policy introduced by the bank is that of quantitative easing, which means the bank will place more money in the system to the tune of £75 billion. (more…)
Tags: low base rate, bank of englandRecently released figures have shown that there has been a sharp rise in the number of tenants that are being evicted from private landlord accommodation, and this is because the landlords are falling into arrears with the mortgage on the property, resulting in the home being repossessed. (more…)
Tags: tenants, tenant evictionsThere is little doubt that the past year has been a shocking one in the housing and mortgage sector, and the lack of mortgages and tighter credit conditions that have stemmed from the global credit crunch have had a severe knock on effect on the house market. (more…)
Tags: mortgage deposits, house sales, property marketA recent report has suggested that the days of self cert mortgages could be coming to an end, as lenders become increasingly cautious and stringent with regards to who they will lend to in what has become a very volatile and difficult financial climate. (more…)
Tags: self cert mortgages, mortgagesThe nationalised bank, Northern Rock, is apparently using taxpayers’ money to revive its mortgage lending operations, according to recent reports. (more…)
Tags: mortgage lending, northern rock, taxpayers moneySir John Gieve has recently stepped down from his three year role as deputy governor of the Bank of England, and was recently speaking at a farewell speech, where he commented on a number of issues, including the financial crisis and how it had been handled by the government and the tripartite system put into place by Gordon Brown in 1997. (more…)
Tags: capped mortgages, mortgages, Sir John GieveOfficials from the Competition Commission have recently confirmed that the sale of the controversial insurance cover known as Payment Protection Insurance or PPI is to be banned in 2010. (more…)
Tags: payment protection, Association of British Insurers, payment protection insurance, competition commission, PPIA recent report has suggested that the whilst most consumers are of the mind that there are very few mortgage products available on the market, the number of mortgages on offer may actually be considerably higher than many people might think. (more…)
Tags: mortgages, mortgage productsOver recent weeks estate agents and surveyors have been stating that the markets could be easing and that the level of interest in property purchasing has increased as a result of rock bottom interest rates and falling house prices. (more…)
Tags: property, first time buyersFollowing calls from the Prime Minister, Gordon Brown, for more ‘prudent and careful’ lending, the City Minister, Lord Myners, has stated that the 100 percent mortgages that were once so popular in the UK were ‘foolish’. (more…)
Tags: 100% mortgagesA leading house builder in the UK has revealed that revenues have fallen by almost 60 percent as the mortgage crisis in the UK continues. In the last twelve months house builder Redrow has seen revenues plunge by more than half with a drop of 58 percent. (more…)
Tags: low mortgage lending, redrow homes, redrow revenue fallAs most people are already well aware mortgage conditions and credit conditions in general have become increasingly tough since the onset of the global credit crunch in the latter part of 2007. (more…)
Tags: mortgages, mortgage conditionsOver the past few weeks a number of lenders have been launching new fixed rate mortgage deals with competitive rates of interest, and this follows the base interest rate plunging to a fresh record low of just 1 percent, which was announced after the February Monetary Policy Committee meeting. (more…)
Tags: hsbc, hsbc fixed rate mortgages, fixed rate mortgagesAccording to a recent survey from the Royal Institute of Chartered Surveyors, house prices across the UK continued to fall for the month of December, with the average number of sales per month per estate agent also falling in the final quarter of last year. (more…)
Tags: Royal Institute of Chartered Surveyors, house prices, house marketAccording to a recent report more and more people are now trying to reduce their mortgage debt by overpaying on their mortgages as and when they are able to. (more…)
Tags: mortgage debt, home equity, lloyds tsbRecently released figures have suggested that the fall in house prices has now resulted in over one million homeowners being plunged into negative equity. (more…)
Tags: negative equity, homeowners, house valueAlthough it may seem that Christmas is long gone, it has actually only been a couple of months since the festive season and New Year, and sadly many people are still reeling from the financial repercussions of the period, having spent far more than they intended to, and often having put the cost of the season on their credit card or used some other form of borrowing to pay for it. (more…)
Tags: debt help, new year debt, credit cards, debt consolidation loans, christmas debtThe Council of Mortgage Lenders has asked for a lower cap to be introduced, which would mean that mortgage lenders would not be expected to reduce their mortgage interest rates beyond a certain level. (more…)
Tags: Homeowner Mortgage Support Scheme, council of mortgage lenders, CML, interest ratesLast year the Council of Mortgage Lenders predicted that the number of repossessions in the UK could reach as many as 75,000 over the course of this year, which is a worrying figure in itself. (more…)
Tags: repossessions, mortgages, homeownersRecent reports have suggested that the number of people now turning to standard variable rate mortgages is increasing, as borrowers take advantage of the sharp falls in the base interest rate. Just a couple of years ago borrowers were flocking to take out fixed rate mortgages following a series of base rate increases and amidst fears of further rate increases. (more…)
Tags: variable rate mortgagesAn official from the debt management service Payplan has states that the level of debt management enquiries in the middle of January this year soared, as an increasing number of worried consumers faced up to the fact that they may struggle with their finances over the course of this year. (more…)
Tags: payplan, debt managementIn 2008 the UK went through a very turbulent financial period, and after ten years of relatively laid back and easy credit conditions many consumers felt the sharp shock of suddenly being unable to get their hands on affordable credit. (more…)
Tags: bank rescue plan, mortgages, credit crunch