Just eighteen months ago many homeowners in the UK were facing crippling mortgage repayments because of the high base interest rate, and many found that they were unable to keep on top of these repayments fuelling a surge in property repossessions across the UK. (more…)
Tags: homeowner wealth, interest rates, bank of englandMany consumers are being lulled into a false sense of financial security by credit card lenders that are quite happy to accept very low repayments on the credit card balance, but failing to make clear to the consumer that this will lead to a lifetime of debt for many. (more…)
Tags: Credit card, Debt-snowball method, minimum repayments, loan, debt, Credit counseling, credit card debt, creditMany shoppers have been hitting the High Streets and virtual retailers in their droves over recent weeks, as they clamour to buy gifts for loved ones and make purchases ranging from food and drink to clothes and entertainment for the festive season. (more…)
Tags: Online shopping, Anglican Church, Church of England, credit cards, ChristmasFor many would be first time buyers the dream of homeownership has never been quite within reach. For many years the price of property in the UK was so high that most first time buyers did not have the income to get the mortgage that they needed, despite the fact that many lenders were increasing income multiples to as high as six or seven times the income. (more…)
Tags: property prices, mortgage, Banking, Housing market crisis in the United Kingdom, shared ownership, first time buyer, financeThere are concerns that the number of repossessions in the UK that stem from credit card debt rather than secured debt may start to increase, which means that many people that may have kept on top of their mortgage repayments and other secured debts could still end up losing their home because of other debts that they have defaulted in even if the debt was not a secured one such as credit cards. This is due to proposals that are set to go into consultation over the coming weeks. (more…)
Tags: Personal finance, finance, debt, loan, mortgage, credit card debtOver recent weeks a number of lenders have decided to bring back 125 percent mortgages, but these will only be made available to existing borrowers who have very good credit and need to move home. (more…)
Tags: Conventry Building Society, Subprime mortgage crisis, negative equity, Trinity Financial Group Limited, council of mortgage lendersThe banking industry has suffered a series of knock backs over the past couple of years, and as a result of a number of factors many consumers have lost confidence in banks and building societies, which have come under fire for a variety of things. (more…)
Tags: mortgage broker, mortgage, Cumberland, cumberland building society, Best Regional Building SocietyFigures that were recently released by the Council of Mortgage Lenders have shown that there was a month on month increase in mortgage lending for the month of October, with mortgage lending for the month rising by around 5 percent compared to September. (more…)
Tags: Subprime mortgage crisis, mortgage, Danish mortgage market, bank of england, Financial economicsConsumers are being warned that they should avoid switching their mortgage loans without first checking the fees that they will be charged for the privilege. (more…)
Tags: Banking, mortgage, mortgage fees, banking charges, mortgage chargesIt has been reported that the property market in the UK is more active than usual for this time of year, with many people putting their Christmas shopping on hold to get on with the more important matter of getting a house. (more…)
Tags: Nick Chivers, debt, Interest, home buyers, ChristmasThe Rent to Home-buy scheme that was launched by the government in the hope of enabling more people to get onto the property ladder has been deemed unsuccessful. (more…)
Tags: Property law, Real property law, Labour Government, Personal finance, rent to homebuy, mortgageRecent figures have shown that whist mortgage lending was up in October compared to September it appears that the residents of Great Britain are keeping focussed on paying off as much debt as possible. (more…)
Tags: loan, bank of england, Credit card, debt consolidation, Global Insight, credit, debt, Howard Archer, economistFigures that have recently been released by a mortgage group have suggested that a rising number of landlords are adding to their property portfolios by obtaining buy to let mortgages. (more…)
Tags: Paragon, real estate, Landlord, buy to let, council of mortgage lendersSince property prices reached their peak in the UK in October of 2007 the value of homes in the nation have plunged, with many homeowners seeing tens of thousands of pounds being wiped off the value of their homes. (more…)
Tags: mortgage, Valuation, Capital Economics, Bloomberg L.P., real estate