A recent report has shown that there is mixed news about the property market in the UK, with good news about increased mortgage lending being hampered by bad news about negative equity levels. (more…)
Archive for July, 2009
Mixed reports on property market
Thursday, July 30th, 2009
Banks increase profits through increasing loan rates
Wednesday, July 29th, 2009A recent report has suggested that banks in the UK are slyly trying to make more money from customers by increasing their personal loan rates, which some campaigners have described as being underhand. (more…)
June saw fall in property prices
Tuesday, July 28th, 2009According to recently released figures there was a drop in property prices for the month of June, following four months of price increases. (more…)
Almost 25 percent of homeowners cannot get a new mortgage loan
Monday, July 27th, 2009Earlier this month a report was released that indicated that almost a quarter of all homeowners in the UK were unable to find a new home loan deal. (more…)
Credit card drought could spell good news for loan sharks
Sunday, July 26th, 2009It has been revealed recently that the lack of credit card availability for many consumers could spell good news for unscrupulous loans sharks out there, as an increasing number of consumers may find themselves having to turn to loan sharks when they are struggling financially simply because they cannot see any other option. (more…)
Bank took pensioner’s money to recoup daughter’s debt
Saturday, July 25th, 2009A major UK lender recently took a month’s pension money from an old age pensioner to use the money for repayment of her daughter’s debt. (more…)
Continued rise in property sales
Friday, July 24th, 2009There has been a continued increase in the number of properties being sold in the UK according to recently released figures from HM Revenue and Customs. (more…)
New home loans at highest level in over a year
Thursday, July 23rd, 2009It was recently reported by the British Banker’s Association that the level of new home loans for the month of May jumped to its highest level in over a year. (more…)
First time buyers could enjoy lower deposits this summer
Wednesday, July 22nd, 2009It has been suggested that first time buyers could finally see some light at the end of the tunnel this summer, as there may be mortgages available that do not demand impossibly high deposits from borrowers. (more…)
Another hold on the base interest rate
Tuesday, July 21st, 2009Earlier this week the Monetary Policy Committee met up for the July monthly meeting with regards to reviewing the base interest rate. (more…)
Average property prices drop in June
Tuesday, July 21st, 2009According to a recent report the average price of property in the UK fell in June following four months of increases. The data comes from the property website Right Move, which claims that in the weeks leading to 13th June property prices fell by 0.4 percent, which took the average property price to £226,436. (more…)
125% Mortgage – Nationwide’s Boost To Those In Negative Equity
Monday, July 20th, 2009125% mortgage. Just when most of us thought that we would never see figures even approaching 100% with regards to mortgages ever again, Nationwide appear to be thinking outside the box with this, distinctly against market trend, deal it’s offering to those trapped in the misery of negative equity. (more…)
Base rate will remain low into next year
Monday, July 20th, 2009Over the past eight months a series of base rate cuts by the Bank of England have seen the base interest rate plummet to its lowest level in the three hundred and fifteen year history of the Bank of England, standing at just 0.5 percent. According to recent reports many industry experts are now expecting the base interest rate to remain at this historic low level well into the course of next year. (more…)
Savings on mortgage repayments being saved by families
Sunday, July 12th, 2009Since the onset of the global credit crunch the government and the Bank of England have been trying to find ways of boosting the ailing economy, housing market, and mortgage sector. (more…)
Recession to affect buy to let investors
Saturday, July 11th, 2009A recent survey has shown that many people believe that the ongoing recession in the UK is going to have an adverse effect on buy to let investors, with many expected to make significant losses on their property investments. (more…)
Mortgages for first time buyers dwindling
Friday, July 10th, 2009mThe number of mortgages available for first time buyers is dwindling according to a recent report, dealing yet another blow to the many first time buyers that are already struggling to get onto the market. (more…)
MPs could cross examine lenders over repossessions and home loans
Friday, July 10th, 2009It has been reported recently that some lenders in the UK could face questioning from MPs next month over two issues that have been at the forefront of the news for some time, and this includes the rising levels of repossessions in the UK and the plunging levels of home loans available to consumers. (more…)
Thousands of mortgages a month being turned down by banks
Thursday, July 9th, 2009Recently released figures have shown that every month thousand of mortgage applications in the UK are being turned down by lenders. (more…)
Brighthouse In The Headlines
Thursday, July 9th, 2009It has been well noted recently that one of the healthiest areas of lending is ‘buy now pay later’ finance available on the high street. People taking advantage of low or no interest deals are shopping prudently are making their cash go further by spreading the cost of high-value essentials such as sofas and white goods over a period of months. With the downturn in high-street spending, it seems that every retailer is getting in on the act and offering tempting finance deals. (more…)
Struggling Wiltshire homeowners now have help at hand
Wednesday, July 8th, 2009According to a recent report a new scheme has been rolled out across Wiltshire to try and help the many struggling homeowners in the area that could be at risk of losing their homes through repossession. (more…)
No income check with 80 percent of HBOS loans
Wednesday, July 8th, 2009It has been alleged in a recent report that around 80 percent of loans that were approved by the Halifax Royal Bank of Scotland before the financial crisis hit were actually given approval without any income checks being carried out. (more…)
Can recovery in housing market be sustained?
Monday, July 6th, 2009Many industry officials have recently been speculating about whether any recovery in the housing market can be sustained, after figures released showed that mortgage interest rates have been increasing for the first time in the space of a year. (more…)
Regulation brought in for sale and rent back
Sunday, July 5th, 2009Sale and rent back schemes have been at the centre of controversy over the past couple of years. Since the onset of the global credit crunch, and with property prices falling, an increasing number of people have turned to these sale and rent back firms in order to avoid losing their homes altogether through repossession. (more…)
More lower deposit mortgage needed to bolster mortgage market
Saturday, July 4th, 2009An industry expert has recently claimed that an increase in the number of lower deposit mortgages is urgently required in order to help the ailing mortgage market in the UK. (more…)
Fixed rate mortgages will continue to increase
Friday, July 3rd, 2009An industry expert has recently stated that fixed rates on mortgages in the UK are set to continue to increase, even though the base interest rate remains at the all time low of just 0.5 percent. (more…)
Mortgage lending fell back in May
Thursday, July 2nd, 2009According to recently released figures mortgage lending in the UK fell back again in the month of May. The figures were released by the Council of Mortgage lenders, and the data on the report showed that gross lending was around 2 percent lower in May than it was in April, standing at around £10.3 billion. (more…)
Bank of England confirms negative equity figures
Thursday, July 2nd, 2009The Bank of England has recently confirmed figures relating to the levels of negative equity amongst homeowners in the UK following around twenty months of house price falls. (more…)