The UK’s financial regulator, the Financial Services Authority, has recently taken action against a mortgage broker that was said to be involved in fraudulent activity. (more…)
Archive for May, 2009
FSA takes action against broker
Sunday, May 31st, 2009
Huge increase in mortgage rejections
Friday, May 29th, 2009The number of mortgages that are being rejected has increased by around four times, according to a national newspaper report. It is said that despite the fact that these mortgage applications fit with the lenders’ criteria on paper, an increasing number of lenders are still finding reasons to turn them down. (more…)
Buyer interest increases and house price falls slow
Wednesday, May 27th, 2009Recently released figures for the month of April have shown that whilst interest from buyers in the housing market increase the pace of house price falls slowed down. (more…)
Is it a Good Idea to Lock in Your Mortgage at the Lower Rates Now Available?
Tuesday, May 26th, 2009The interest rates for mortgages in the UK are at the lowest level they have been in 300 years. Many homeowners are wondering if they should lock in their mortgage at these lower rates in an attempt to save money on their mortgage payments. (more…)
More money to be ploughed into the economy
Friday, May 22nd, 2009After the recent Monetary Policy Committee meeting earlier this month the Bank of England announced that the base interest rate was to be left on hold at 0.5 percent. (more…)
Watchdog to keep close eye on loan adverts and comparison sites
Thursday, May 21st, 2009It has been revealed recently that an industry watchdog is going to be keeping a closer than usual eye on loan advertisements and financial comparison sites in order to try and provide consumers with increased protection during the recession. (more…)
Good News from Lenders for First Time Home Buyers
Wednesday, May 20th, 2009For the first time in many months, lenders are starting to compete for the business of first time home buyers. Just yesterday, Halifax announced a plan in which it would pay the stamp duty for first time home buyers. (more…)
Slight fall in house prices for April
Wednesday, May 20th, 2009Figures that were recently released by the Nationwide Building Society have shown that despite the surprise increase in house prices in March, property prices in England and Wales are continuing to fall, with April seeing a slight dip in house prices. (more…)
Surveyors claim increased interest from buyers
Tuesday, May 19th, 2009Surveyors from the Royal Institute of Chartered Surveyors have stated that whilst property sales levels in the UK still remain low there has been rising interest from would be buyers. Officials from RICS said that rising interest from potential buyers was gaining ‘real momentum’. (more…)
Overdrafts being cut by banks to cut credit
Monday, May 18th, 2009It has been revealed that many banks are cracking down on overdraft facilities and limits in a bid to try and reign in credit. Some banks are now conducting regular reviews on overdraft limits, and are giving consumes just one month in which to repay the money after slashing their overdraft limit. (more…)
Recession Forcing Britons to Do Their Own Renovations
Saturday, May 16th, 2009The crash of the real estate market has dashed the hopes of many Britons who expected to sell their homes this year and move into large properties. The inventory of homes on the market is in excess with foreclosures and the homes that have been languishing on the market for many months. (more…)
PPI ban sees spike in loan rates
Friday, May 15th, 2009According to recent reports the PPI ban that has recently been announced by authorities will result in further spikes to loan rates, which many industry officials have said are already spiralling despite the all time low base interest rates, which stands at just 0.5 percent. (more…)
Nationwide hikes standard mortgage rate
Thursday, May 14th, 2009Britain’s largest building society, Nationwide, decided earlier this month to increase its interest rates on standard variable rate mortgages, which has sparked fears that other lenders will follow suit. (more…)
Cost of buying a home has rocketed in past five years
Wednesday, May 13th, 2009Recent reports have indicated that the cost of buying a home in the UK has soared by around £2000 in the past five years, and this has come as a result of rocketing fees, low valuations, and more. (more…)
House price decline slowest in a year in March
Tuesday, May 12th, 2009According to industry official the decline of house prices across England and Wales continued in March, but was at its slowest level in the space of a year. In addition to this there was also an increase in sales levels, which picked up from record lows. (more…)
Markets are Finally Opening for First Time Home Buyers
Monday, May 11th, 2009When the real estate market started to show signs of decline in 2007, the first step taken by lenders was to tighten the lending restrictions for first time home buyers making it more difficult for them to obtain a mortgage. (more…)
CML releases official negative equity figures
Monday, May 11th, 2009A couple of weeks ago the Council of Mortgage Lender released worrying figures with regards to negative equity levels amongst homeowners in the UK, claiming that 900,000 homeowners had been plunged into negative equity as a result of falling house prices. (more…)
Quantitative easing will prove successful
Wednesday, May 6th, 2009A number of economists have predicted that the governments plan to try quantitative easing in order to boost the economy will prove successful. (more…)
Estate agents more upbeat about property market
Monday, May 4th, 2009Nobody can argue about the fact that the past year has been a particularly turbulent one for estate agents and other industries connected to the property market, as the slump in property sales has made things very difficult. (more…)
DROs could speed up insolvencies
Sunday, May 3rd, 2009Some industry officials have expressed concern that the level of insolvencies in the UK could be increased and sped up as a result of a new scheme that has come into play recently. (more…)
Are lenders being too optimistic about house price increases?
Saturday, May 2nd, 2009Since October of 2007 house prices in the UK have been falling month on month, and have so far plunged by around 20 percent compared to their peak. (more…)
Credit to become more readily available over coming months
Friday, May 1st, 2009According to a recent report lenders have said that there is a good chance that credit will become more readily available for businesses and consumers over the coming months, although demand for credit is likely to remain subdued for some time to come. (more…)
More from Loan News category
Ads and sponsors