It has been reported that the UK’s financial services regulator, the Financial Services Authority, has banned a mortgage broker. The ban was imposed because the broker allegedly failed to prevent mortgage fraud. (more…)
Archive for the ‘Mortgage News’ Category
Mortgage activity will increase this year
Monday, March 15th, 2010A prediction with regards to mortgage activity in the UK has been made by the Council of Mortgage Lenders recently, with officials from the agency predicting that 2010 will see the level of mortgage activity in the UK increase. (more…)
Confidence returns to property market in the UK
Friday, March 12th, 2010Over recent months there have been a number of signs of recovery in the property market, with increasing property prices, a growth in property transactions, easing up of the mortgage markets, and increased interest from would be buyers. (more…)
Half of all new mortgages issued by Santander
Wednesday, March 10th, 2010Figures have recently been released showing that around 50 percent of all new mortgages issued in the UK are now arranged through the Spanish based lender Santander, which owns banks such as Abbey and Alliance & Leicester in the UK. (more…)
154 percent increase in deposits required by first time buyers
Thursday, March 4th, 2010According to recent reports the average amount of deposit that is required by first time buyers in Scotland has increased by a shocking 154 percent since 2007. (more…)
Government reports on house price increases last year
Tuesday, March 2nd, 2010A government report has indicated that in 2009 property prices in the UK increase by 2.9 percent. The data comes from the most recent government house price survey. (more…)
Properties selling at 93 percent of asking price
Wednesday, February 24th, 2010Figures that were recently released by a property website have revealed that properties in the UK are now selling at around 93 percent of their asking price, showing an increase compared to the 88 percent low that was seen in February of last year. This means that those looking to put in an offer on a property need to be mindful about how much they are offering, otherwise they could find that the property is snapped up by another buyer. (more…)
Mortgage availability on the increase
Tuesday, February 23rd, 2010Over the past couple of years the mortgage industry has been through some tough times, and both consumers and the economy as a whole have been affected by the lack of mortgage finances that has been available. (more…)
Elderly could save money with equity release service from charity
Monday, February 22nd, 2010Equity release schemes can often prove to be very useful for older homeowners that want to unlock some of the equity in their homes, but the scheme have also come under fire on a regular basis as a result of the fees that many elderly end up paying. (more…)
Five year tenancies to be given with sale and rent back schemes
Friday, February 19th, 2010Over recent years there has been a lot of concern over sale and rent back schemes, and this is where a company buys a person’s property for a percentage of the market value and then rents it back to them. (more…)
FSA proposes new rules for those in mortgage arrears
Thursday, February 18th, 2010Over the past couple of years, with the credit crunch, recession, and pay freezes affecting so many households, a rising number of homeowners have fallen behind with repayments on their mortgages, and for many this has resulted in the loss of their homes through repossession. (more…)
Continued popularity for variable rate mortgages
Monday, February 15th, 2010Whilst there was a time when people wanted to avoid variable rate mortgages because of the high rate of interest attached to them many people at the moment are finding that these are the most cost effective mortgage types to opt for because of the record low interest rate that is still in place. (more…)
Nationwide predicts good news for house prices
Saturday, February 13th, 2010Amidst the news that the UK has now come out of recession and things in the property market are looking somewhat brighter than they have for some time one leading High Street lender has now predicted further good news for the property market. According to the Nationwide house prices in the UK are continuing to increase, and the rate of house price increases could rise to over 10 percent a year. (more…)
Older homeowners warned about eviction threat from sale and rent back operators
Thursday, February 11th, 2010A warning has been put out for older homeowners that may be looking to release equity from their homes, with officials concerned that many of these homeowners could end up at the mercy of sale and rent back operators that are nohttp://www.glitec.co.uk/wp-admin/post.php?action=edit&post=1680&message=6t operating to FSA regulations. (more…)
Houses were more affordable five decades ago than now
Wednesday, February 10th, 2010According to the High Street lender, Halifax, the quality of homes across the UK has improved over the past few decades but affordability is now lower than it was fifty years ago. (more…)
Estranged coupled being forced to live together due to negative equity
Monday, February 8th, 2010As most homeowners will know falling into negative equity can bring with it many problems, not least of which is being tied to the home because the value of the property has fallen below the amount that is still owed on it. However, another problem that has been highlighted with regards to negative equity is that in some cases couples that have drifted apart or no longer want to be together are being forced to continue living under the same roof as a result of being in negative equity. (more…)
Generate money from your home whilst you are away
Saturday, February 6th, 2010It is no secret that many homeowners these days are experiencing difficulties when it comes to making their mortgage repayments and making ends meet financially, even with the base rate at an all time low of just 0.5 percent. (more…)
Sales of properties reach highest levels in two years
Friday, February 5th, 2010The sale of properties in the UK have reached their highest levels in two years according to recent reports, and this comes after a turbulent period during which the sale of properties all but came to a halt, with faltering prices resulting in homeowners being reluctant to sell and the mortgage drought resulting in would be buyers unable to purchase a property. Officials believe that the increase in sales is yet another sign that the property market in the UK is on its way to recovery. (more…)
Asking prices being increased by sellers
Thursday, February 4th, 2010According to a recent report homeowners that have been putting their homes on the market in the hope of selling them have been pushing up asking prices, with many realising that the lowest stock levels in around ten years could work to their advantage. (more…)
More choice for consumers as Virgin gets banking licence
Tuesday, February 2nd, 2010The Virgin brand is one that is known and trusted across the UK as well as globally, and over the years Sir Richard Branson’s company has gone from strength to strength offering everything from financial products and entertainment to travel and more. The company has now added another feather to its cap after it was announced that it has managed to acquire a licence to supply full banking services, which means that consumers will be able to enjoy more choice. (more…)
House price gains are not good news for all
Thursday, January 28th, 2010Over recent months many reports have highlighted how properties have been picking up in terms of value following a year and a half of month on month falls. For many homeowners this brought some degree of comfort, but one report has suggested that the news of the house price gains will not be good news for all homeowners. (more…)
Banks’ special offers on financial products often more expensive than best buys
Wednesday, January 27th, 2010With the January sales well and truly underway many consumers are hoping to bag a bargain or two. This year it seems that it is not just High Street retailers that are offering products in the sales, as many other sectors have joined in ranging from broadband providers offering special deals on packages to banks offering great value financial products to help consumers save money. (more…)
Next Year Could See Supermarket Break Into Mortgages
Sunday, January 24th, 2010According 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…)
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…)
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…)
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…)
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…)
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…)
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…)
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…)
Nationwide predicts downward spiral for house prices
Sunday, November 29th, 2009The leading building society Nationwide has recently warned that we should expect downward pressure on property prices in the UK over the coming year. (more…)
Stamp duty suspension was not as useful as hoped
Saturday, November 28th, 2009Last 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…)
Woolwich tightens affordability calculations
Thursday, November 26th, 2009The mortgage sector of Barclays, the Woolwich, has announced that it has recently tightened up its mortgage affordability calculations, which could potentially make it difficult for many borrowers to get a competitive mortgage loan from the lender. (more…)
Bank of England throws more money at economy
Tuesday, November 24th, 2009Following 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…)
Homeowners given advice on making money from their home
Monday, November 23rd, 2009In 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…)
Platform withdraws from self cert mortgage market
Saturday, November 21st, 2009Conditions 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…)
Increased demand for mortgage advice from first time buyers seen as sign of recovery
Thursday, November 19th, 2009According 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…)
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