The leading building society Nationwide has recently warned that we should expect downward pressure on property prices in the UK over the coming year. (more…)
Tags: property prices, nationwide, house prices, Graham BealeLast year the government in the UK suspended stamp duty on properties between £125,000 and £175, 000 in value in the hope of helping to revive the struggling property market by increasing affordability for first time buyers. (more…)
Tags: mortgages, first time buyer, stamp dutyA borrower in the UK, Louise Cowan, has recently detailed in a report how she felt duped by Yes Loans after being given the impression that she was being accepted for a loan only to find that she had then been passed on to some debt management firm. (more…)
Tags: Louise Cowan, Money Worries, yes loans, debt, loan application, bank statement, loan feesFollowing the most recent Monetary Policy Committee meeting the Bank of England announced that it was throwing even more money at the economy in the form of quantitative easing, which has already cost £175 billion. (more…)
Tags: bank of england, Inflation, Chancellor of the Exchequer, Monetary Policy Committee, Quantitative easing, interest rateIn the past many people with their own homes were reliant on the equity in their properties to provide them with financial stability in the future. (more…)
Tags: mortgage, Fractional renting, Renting, Foreclosure rescue scheme, Subprime mortgage crisis, real estate, propertyConditions within the mortgage sector have changed dramatically since the onset of the global credit crunch, with popular mortgages such as 100 percent mortgages and even 95 percent mortgages disappearing from the shelves and being replaced with high deposit mortgages. (more…)
Tags: last remaining mortgage lender, The Platform Company, mortgage, self cert mortgages, Offset mortgageIt has been reported that many customers in the UK that are looking for loans and credit cards may be getting unfairly penalized as a result of the searches that are carried out when they make an application for a credit card or a loan. (more…)
Tags: Treasury Select Committee, credit score, Credit card, credit history, Credit counseling, Consumer credit risk, Risk-based pricingAccording to a recent report there has been a rise in the number of enquiries for mortgage advice from first time buyers of late, and this has been seen as a sign of recovery in the property market. (more…)
Tags: mortgages, first time buyers, mortgage adviceOfficials from a national debt charity have recently stated that a rising number of people may end up turning to Individual Voluntary Arrangements (IVAs) in order to deal with the credit card debt that they accrue in the current difficult financial climate. (more…)
Tags: iva, debt, individual voluntary arrangementOver the past few weeks many industry officials and groups were convinced that Britain was at last coming out of the other side of the recession. It was widely expected that official third quarter figures would show that there had been an increase in economic output and that the nation would officially be out of recession. (more…)
Tags: Alistair Darling, Market trends, Late 2000s recession in Europe, bank of england, RecessionsA recent report has claimed that lenders are being accused to pushing customers onto expensive fixed rate mortgage deals that could see the amount that they owe go up by thousands of pounds. (more…)
Tags: mortgages, fixed rate mortgagesIt has been claimed that the mortgage lending sector for the month of August was largely propped up by first time buyers.
The month saw a drop in the number of people looking to remortgage, but there was a return to the market – albeit a gradual one – of first time buyers who helped to keep the sector buoyant. (more…)
Tags: fixed rate mortgages, mortgages, first time buyersFigures that were recently released by Nationwide have shown that there has been an increase of 2 percent in property prices in the UK. The lender has confirmed that house prices are now higher than they were at the same time last year by around 2 percent, and that property prices have increased for the sixth month in a row. (more…)
Tags: property prices, house pricesSince the onset of the global credit crunch, which has seen a number of banks become at least part government owned as a result of huge bailouts using taxpayers’ money, the government has been promising to clamp down on the extraordinary bonuses that banking executives were picking up. (more…)
Tags: banks, rbs bonuses, bonuses, banks bonusesAn industry report has recently claimed that it is unlikely that homes in Northern Ireland will see any price increase next year. The report was released by Davy stockbrokers, and claims that even if there is a property value increase it will not be a significant one. (more…)
Tags: northern ireland house pricesNationalised mortgage lender Northern Rock is said to be on an aggressive drive to try and increase its customer base by cutting the rates on some of its mortgage products a number of times within a short period of time. (more…)
Tags: northern rock, northern rock mortgagesFor many years landlords in the UK who have been looking to rent their properties out to potential tenants have always been careful to ensure that a credit reference check is carried out on any potential tenant to make sure that they are not experiencing financial problems that could result in them being unable to make payments on the rent. (more…)
Tags: buy to let, mortgagesFirst time buyers have faced a number of problems when it comes to getting onto the property ladder, even though property prices have come down. Over the past couple of years banks and lenders have become reluctant to hand out mortgage loans, and first time buyers in particular have suffered because of the high deposit levels that lenders have been demanding, which most first time buyers have been unable to raise. (more…)
Tags: Britannia mortgages, mortgagesAs the Office of Fair Trading waits to hear from the Supreme Court with regards to whether it can set fair overdraft charge levels for banks a report has been released that indicates banks could end up paying billions of pounds back to consumers in returned overdraft charges, which would come as a huge blow given their current financial status. In fact, banks could be forced to pay back up to £20 billion in returned overdraft charges if the Office of Fair Trading wins the case. (more…)
Tags: overdraft charges, bank charges, Office of Fair TradingEarlier this month struggling first time buyers in the UK received some good news after Abbey, which is owned by Spanish bank Santander, accounted that it was scrapping the legal fees on some of its mortgage loans. (more…)
Tags: first time buyer mortgages, mortgages, first time buyersUnfair mortgage charges have resulted in a fine for a UK mortgage lender according to a recent report. GMAC-RFC has been fined nearly three million pounds by the UK’s financial regulator, the Financial Services Authority. (more…)
Tags: FSA, GMAC-RFC, lender finesFor the past seven months the base interest rate in the UK has been at an all time low of just 0.5 percent, which is the lowest it has ever been in the history of the Bank of England, which spans over three hundred years. (more…)
Tags: mortgage rates, fixed rate mortgagesThere is no doubt that over the past couple of years the UK’s property market has been through an extremely turbulent time, with the near financial collapse resulting in a negative effect on the mortgage and property markets. (more…)
Tags: housing market, property marketOver the past few months there have been increases in property prices in the UK, and house price indexes have shown that property prices are now at the sort of level that they were at around twelve months ago, although they are still falling short of the levels they reached at the peak of the property market in the latter part of 2007. (more…)
Tags: housing market, property pricesHigh street lender Nationwide has bucked the trend in the mortgage market by offering 90 percent mortgages to borrowers, which has proven great news for the many first time buyers that have struggled to find the level of deposit that many lenders are now asking for. (more…)
Tags: 90% mortgages, mortgagesSince the property market peaked back in 2007 property prices in the UK have plunged, sending many homeowners spiralling into negative equity and wiping tens of thousands of pounds off the price of properties. (more…)
Tags: first time buyers, property prices