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…)
Tags: mortgage broker, Herald Finance Ltd, Abiola Agbalaya, FSAThe 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…)
Tags: mortgage broker, Herald Finance Ltd, Abiola Agbalaya, FSAThe 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…)
Tags: mortgage application, mortgage rejections, mortgagesRecently 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…)
Tags: house prices, mortgages, house marketThe 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…)
Tags: fixed rate mortgages, interest rates, lock mortgage rates, base rate, variable rate mortgages, mortgagesAfter 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…)
Tags: base rate, interest rates, economyFor 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…)
Tags: first time buyers, abbey, stamp duty, halifax pay stamp dutyFigures 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…)
Tags: house market, mortgages, house pricesSurveyors 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…)
Tags: mortgages, house market, surveyorsIt 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…)
Tags: bank overdrafts, cut creditThe 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…)
Tags: recession, save money, DIY, renovationsAccording 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…)
Tags: secured loans, personal loans, loans, loan rates, payment protection insuranceBritain’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…)
Tags: bank of england, natoionwide mortgages, mortgageAccording 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…)
Tags: council of mortgage lenders, Royal Institute of Chartered Surveyors, house pricesWhen 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…)
Tags: mortgage deals, HomeBuy Direct, first time buyer mortgages, first time buyers, house marketA 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…)
Tags: negative equity, council of mortgage lenders, mortgagesA number of economists have predicted that the governments plan to try quantitative easing in order to boost the economy will prove successful. (more…)
Tags: quantative easing, credit crunchNobody 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…)
Tags: house prices, Association of Estate Agents, property market, Royal Institute of Chartered SurveyorsSome 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…)
Tags: debt relief order, insolvencies, debtsSince 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…)
Tags: mortgages, property market, house pricesAccording 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…)
Tags: credit, loans, Credit Conditions Survey