Many 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, Christmas, Anglican Church, Church of England, credit cardsFor 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: Banking, property prices, first time buyer, finance, shared ownershipThere 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: mortgage, loan, finance, Personal finance, credit, unsecured debt, 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: 125% mortgages, Trinity Financial Group Limited, Subprime mortgage crisis, council of mortgage lenders, mortgage, negative equity, creditThe 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: building society, Cumberland, cumberland building society, Best Regional Building Society, mortgage broker, mortgageFigures 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: Danish mortgage market, bank of england, interest rates, Subprime crisis impact timeline, Subprime mortgage crisisConsumers 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: mortgage fees, Banking, mortgage, banking charges, mortgage charges, banking feesIt 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, home buyers, Christmas, debt, Interest, property marketThe 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: Real property law, Property law, Conservative Party, mortgage, rent to homebuy, Personal finance, Labour GovernmentRecent 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: credit, loan, Credit card, debt consolidation, Debt settlement, bank of england, Global InsightFigures 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: buy to let, real estate, mortgage, council of mortgage lenders, LandlordSince 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: real estate, Bloomberg L.P., Valuation, mortgage, Capital EconomicsThe 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: Graham Beale, property prices, nationwide, house pricesLast 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: stamp duty, first time buyer, mortgagesA 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: loan application, yes loans, Louise Cowan, Money Worries, loan fees, debt, bank statementFollowing 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: Quantitative easing, Monetary Policy Committee, Inflation, bank of england, Chancellor of the Exchequer, 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: Fractional renting, real estate, Renting, mortgage, Foreclosure rescue scheme, property, Subprime mortgage crisisConditions 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: mortgage, Offset mortgage, self cert mortgages, last remaining mortgage lender, The Platform CompanyIt 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: credit history, Treasury Select Committee, Risk-based pricing, Credit counseling, Consumer credit riskAccording 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: mortgage advice, mortgages, first time buyersOfficials 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: Mervyn King, Late 2000s recession in Europe, Market trends, Macroeconomics, Alistair DarlingA 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, first time buyers, mortgages