According to a recent report the supermarket retail giant Tesco could end up breaking into the mortgage market as early as 2010, which would mean that consumers will enjoy more choice and will be able to consider a mortgage from a household name that is trusted by many people. (more…)
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Next Year Could See Supermarket Break Into Mortgages
Sunday, January 24th, 2010
Buyers In Bloxham Can Continue To Enjoy Stamp Duty Holiday
Thursday, January 21st, 2010Last year saw the government launch a stamp duty holiday for buyers that were purchasing property up to the value of £175,000. Previously the only properties that were exempt from stamp duty were those that were up to the value of £125,000. (more…)
Lenders pushing more expensive deals
Tuesday, January 19th, 2010A recent report has suggested that lenders may be pushing their more expensive mortgage deals onto consumers, with deals such as short term fixes, which are being pushed by lenders, proving to be costly for consumers. Many lenders are said to be focussing on pushing deals where rates are fixed for two years or less, and which tend to be the most expensive for consumers. (more…)
Fall in lending to businesses according to central bank
Sunday, January 17th, 2010The Bank of England has recently reported that the level of lending to businesses in the UK has been falling. The figures were released in the central bank’s recently released Trends in Lending report, and showed that in October there had been a slightly bigger fall in lending to businesses than in the previous month. (more…)
Up To 4 Percent Increase In House Prices Says CEBR
Friday, January 15th, 2010It has been forecast by the Centre for Economic and Business Research that house price increases next year will start to moderate and stabilise after a series of increases over recent months. (more…)
HIPs won’t need to be replaced say Tories
Wednesday, January 13th, 2010According to reports the Conservative Party has promised that if it comes into power in the next general election in 2010 then it will be abolishing the controversial Home Information Packs or HIPs, which were brought in by the Labour government. The promise to abolish HIPs, which have been at the centre of controversy since they were brought in, was made by the Shadow Housing Minister Grant Schapps. (more…)
Cost Of Personal Loans Increased By Banks
Monday, January 11th, 2010Recent figures have shown that since the start of this year the cost of personal loans has been increased by banks, and this is despite the fact that the base interest rate has been at an all time low of just 0.5 percent for the past nine months. Since the start of this year the cost of a best buy loan for £5000 is said to have increased by around 1.54 percent to 10.78 percent according to reports. (more…)
Property prices still strong according to RICS
Friday, January 8th, 2010Surveyors from the Royal Institute of Chartered Surveyors have stated recently that property prices in the UK continue to be strong, and earlier this month reported that they were actually increasing at their strongest level in around three years. (more…)
Fall of 10 percent in mortgage lending
Tuesday, January 5th, 2010Figures that have been recently released have shown that for the month of November there was a drop of 10 percent in mortgage lending in the UK compared to the previous month. The figures suggest that mortgage lending in November hit the lowest level since May of this year. The Council of Mortgage Lenders has stated that the mortgage lending levels of November of this year were also down by around 14 percent compared to the same month last year. (more…)
First time buyers at lowest level in a year
Saturday, January 2nd, 2010Recent figures have suggested that the level of first time buyers in the UK have fallen to the lowest in the period of a year. The National Association of Estate Agents has stated that the number of first time buyers entering the property market has fallen to the lowest level this year, and is in fact at its lowest since November of 2008. (more…)
Homeowners better off due to low interest rates
Wednesday, December 30th, 2009Just 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…)
Minimum repayment encouraging credit card debt
Sunday, December 27th, 2009Many 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…)
House prices to fall again next year
Wednesday, December 23rd, 2009Whilst there has been a great deal of speculation with regards to whether recent house price increases in the UK can be sustained over recent months, a report has now suggested that many economists and estate agents are now in agreement that property prices are likely to fall over the course of next year. (more…)
Did shoppers heed Church of England warning?
Monday, December 21st, 2009Many 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…)
Could shared ownership be the answer to your property dreams?
Saturday, December 19th, 2009For 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…)
Repossessions relating to credit card debt could increase
Friday, December 18th, 2009There 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…)
Lenders offer 125 percent mortgages to existing customers
Wednesday, December 16th, 2009Over 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…)
Experts give opinions on FSA mortgage lending regulation changes
Tuesday, December 15th, 2009The mortgage markets have been turbulent to say the least over the past couple of years, and many of the problems that have almost brought the financial sector to its knees have been blamed on irresponsible mortgage lenders over the past decade, where high income multiples, extended repayment periods, lending to those with bad credit, jumbo mortgages, and high risk lending was all part and parcel of the mortgage lending sector. (more…)
Cumberland Building Society gets national award
Tuesday, December 15th, 2009The 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…)
Mortgage lending in October increased compared to previous month
Monday, December 14th, 2009Figures 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…)
Consumer should not switch mortgages without banking fees
Friday, December 11th, 2009Consumers 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…)
Ban on self cert mortgages will not cut off everyone with an irregular income
Friday, December 11th, 2009Since the UK’s financial regulator the Financial Services Authority announced plans to ban self certification mortgages in their current form there has been a lot of controversy.
Property market more active than usual for this time of year
Thursday, December 10th, 2009It 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…)
Rent to Home-buy scheme deemed unsuccessful
Wednesday, December 9th, 2009The 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…)
Borrowers trying to pay off more debt
Tuesday, December 8th, 2009Recent 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…)
Rise in the number of landlords obtaining buy to let mortgages
Monday, December 7th, 2009Figures 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…)
Bloomberg survey suggest up to five years for full house price recovery
Friday, December 4th, 2009Since 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…)
Fake Payslips Beig Bought Online For Mortgage Fraud
Wednesday, December 2nd, 2009Following an investigation by the Observer newspaper it has been revealed just how quick and easy it is for criminals to purchase fake payslips via the Internet and then go on to commit mortgage fraud. (more…)
FSA accused of treating lenders like drug dealers
Tuesday, December 1st, 2009The UK’s financial regulator, the Financial Services Authority, has been accused by the banking industry of treating both banks and building societies like ‘drug dealers at the school gates’. (more…)
FSA voices concerns over recklessness of some lenders
Monday, November 30th, 2009The UK’s financial regulator, the Financial Services Authority, has commented on the extent of the recklessness of some of the UK’s lenders. (more…)
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