A 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…)
Archive for the ‘Mortgage News’ Category
Borrowers being pushed onto costly fixed rates by lenders
Tuesday, November 17th, 2009
Mortgage lending propped up by first time buyers
Monday, November 16th, 2009It 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…)
Property prices see annual rise
Sunday, November 15th, 2009Figures 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…)
Rise for Northern Ireland homes unlikely
Thursday, November 12th, 2009An 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…)
Northern Rock tries to tempt more customers
Wednesday, November 11th, 2009Nationalised 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…)
Turnaround with buy to let reference checks
Sunday, November 8th, 2009For 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…)
90 percent mortgages withdrawn by Britannia
Saturday, November 7th, 2009First 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…)
First time buyers get some good news
Thursday, November 5th, 2009Earlier 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…)
Homeowners urged to fix rate before it is too late
Wednesday, November 4th, 2009For 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…)
Property prices will not return to levels seen previously
Tuesday, November 3rd, 2009Over 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…)
90 percent mortgages available through Nationwide
Monday, November 2nd, 2009High 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…)
Property still not affordable enough for first time buyers
Monday, November 2nd, 2009Since 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…)
One hundred thousand homeowners a month benefit from low interest rates
Saturday, October 31st, 2009According to a recent report around one hundred thousand homeowners every month are benefiting from the rock bottom base rate, which has stood at just 0.5 percent since April of this year. The current base rate is the lowest it has ever been in the history of the Bank of England, which spans over three hundred years. (more…)
Mixed news on mortgage lending
Friday, October 30th, 2009Over recent weeks data has been released that indicates mixed news in the mortgage lending markets. There has been much speculation recently about signs of recovery in the property and mortgage markets, and indeed some of the figures relating to mortgage lending levels have pointed towards recovery. (more…)
Shake up in store for the mortgage market
Thursday, October 29th, 2009Over the past couple of years the mortgage market in the UK has gone through some very tough times, and even now traditional mortgage lenders are being increasingly strict with regards to mortgage approvals, and are putting many obstacles in the way of borrowers that do not have large deposits and excellent credit histories. (more…)
Cheaper to buy than rent in most areas
Thursday, October 22nd, 2009According to a recent report many first time buyers would find it cheaper to buy a home than to rent one in most parts of the UK providing they can find a reasonable deposit to put down on the property. (more…)
Mortgage repayment savings being used to pay off credit card debt
Thursday, October 22nd, 2009It has been reported recently that many homeowners in the UK are using the savings that they are making on their mortgage repayments to make repayments on their credit card debts. (more…)
Slight drop in house prices in UK
Wednesday, October 21st, 2009Over recent months there have been modest increases in property values in the UK, and this has sparked renewed hope across the nation, with many industry officials claiming that the property price increases were signs of green shoots in the property market and the economy as a whole. However, a number of other industry experts were quick to predict that the property price increases were only a temporary blip and that the situation would not be sustained. (more…)
Brits playing it safe with overseas properties
Monday, October 19th, 2009Brits have always been fond of buying holiday homes and properties in overseas destinations, and over the years have purchased properties in many different places around the world. (more…)
Many Brits think this is the time to buy a home
Sunday, October 18th, 2009The results of a recently conducted survey have shown that many people in Britain think that now is a good time to buy a home, despite the difficulties in the mortgage markets. (more…)
Highest number of mortgage complaints received by Bank of Scotland
Friday, October 16th, 2009According to figures received from the Financial Ombudsman Service the highest number of complaints in relation to home loans and mortgages has been received by the Bank of Scotland. (more…)
Younger Scots being frozen out of the property market
Wednesday, October 14th, 2009In a recent report it has been claimed that, in the same way as those in England and Wales, many younger people in Scotland are finding themselves frozen out of the property market because of the crippling deposits that lenders are demanding in return for a mortgage loan. (more…)
Lucky mortgage payer wins repayments for a year
Tuesday, October 13th, 2009With the financial crisis still ongoing and times still hard for most of us in terms of many there are many people that dream of having their mortgage repayments covered for them if only for a limited period of time. (more…)
Ulster Bank aims to increase lending
Monday, October 12th, 2009Whilst many recent reports have stated that many banks across the UK are still being extra cautious with regards to lending to consumers in the current climate it has been revealed that one bank in Northern Ireland is actually trying to increase its mortgage lending, and has launched a drive that is aimed towards improving and increasing mortgage lending for consumers. (more…)
Some homeowners could benefit from not overpaying on their mortgage
Friday, October 9th, 2009With interest rates at all time lows of just 0.5 percent many homeowners in the UK have seen their mortgage repayments fall, and some have decided to make the most of the situation by continuing to make higher repayments and overpaying on their mortgages. (more…)
Percentage fees now charged on 50 percent of mortgages
Thursday, October 8th, 2009Recent research has revealed that an increasing number of mortgage lenders are now charging a percentage fee on their fixed rate mortgage products. (more…)
Payments on mortgages fall to lowest level in seven years
Wednesday, October 7th, 2009Despite the troubled financial climate and the recession recent reports have shown that consumer do have some good news when it comes to their finances. (more…)
New website launched by government for those struggling with mortgages
Tuesday, October 6th, 2009As part of the measures designed to try and help struggling homeowners and reduce repossession levels in the UK the government has launched a new website that is designed to help those that are struggling to keep up with their mortgage repayments. (more…)
Many homeowners refuse to drop property prices
Monday, October 5th, 2009Over recent months property prices in the UK have been increasing slightly, but over the past year and a half property prices have plunged with the UK experiencing a dire property slump. (more…)
Current property price increases ‘unsustainable’
Saturday, October 3rd, 2009Over the past few months property prices have seen slight increases following eighteen months of dramatic falls, and for many this has indicated that the property slump is over and that the market is getting back onto an even footing. (more…)
Growth in mortgage confidence reported
Friday, October 2nd, 2009One financial website has revealed that a growing number of people are looking to move house, indicating that there has been significant growth in mortgage confidence. (more…)
Economist warns on interest rate increases in 2010
Wednesday, September 30th, 2009Since April of this year the base interest rate has been at its lowest rate in the history of the Bank of England, which spans over three hundred years, and currently stands at just 0.5 percent. (more…)
Home buyers in Surrey can get expert advice
Tuesday, September 29th, 2009People who are looking to purchase a home can get some advice and assistance from experts at a luxury new housing development in the Surry area, according to a recent report. (more…)
Country homes holding prices better than town houses
Monday, September 28th, 2009It has been revealed in a recent report that the prices of homes in the country and in rural areas are holding better than the value of homes in urban areas during the property slump. (more…)
Home loan prices continue to rise
Sunday, September 27th, 2009According to recently released figures the prices on home loans in the UK are continuing to increase even though the base interest rate has now been at record lows of 0.5 percent for many months. (more…)
Stamp duty holiday set to come to an end
Saturday, September 26th, 2009The stamp duty holiday that was brought in by the UK government last year is set to come to an end at the end of this year, and as a result many potential property purchasers may need to move quickly in order to avoid having to pay a hefty amount of tax on the home that they purchase. (more…)
Fall in auction prices compared to property market value
Friday, September 25th, 2009It has been reported recently that the prices at which properties are going at auction now are around 30 percent lower than the market value of the property, which industry officials have said is a gap that has trebled over the past few months. (more…)
Are Brits paying out a fortune for properties that are too small to live in?
Thursday, September 24th, 2009Whilst it is true that property prices in the UK have fallen over the past eighteen months the cost of purchasing a home in the UK is still high, which makes things difficult for first time buyers. (more…)
House prices increase between April and August
Thursday, September 24th, 2009According to figures that were recently released by the mortgage lender Halifax there was a significant increase in property prices in the UK between April of this year and August, with the average property price said to have increased by around £6000. (more…)
No change to interest rates for September
Tuesday, September 22nd, 2009With the September Monetary Policy Committee meeting having been held last week the Bank of England has announced that there is to be no change in the current base interest rate, which will remain at its record low of just 0.5 percent for yet another month. (more…)
Soaring unemployment could lead to rising level of mortgage defaults
Sunday, September 20th, 2009It has been reported that up to four hundred thousand homeowners in the UK could be defaulting on their mortgage repayments by 2011 partly as a result of soaring unemployment levels. (more…)
Mortgage lending continues to rise
Friday, September 18th, 2009Figures that were recently released by the Council of Mortgage Lenders have indicated that mortgage lending in the UK is continuing to rise following a very volatile eighteen months where lending levels plummeted. (more…)
Many middle class households may suffer due to interest only mortgages
Wednesday, September 16th, 2009According to industry officials there could be serious problems ahead for many middle class families who took out interest only mortgages, with many facing the prospect of being unable to move for many years to come due to plummeting property prices and negative equity. (more…)
Many first time buyers have been seeking mortgage advice
Sunday, September 13th, 2009It has been revealed in a recent industry report that many first time buyers have been seeking mortgage related advice in the current difficult financial climate, as they desperately try and get their foot onto the property ladder. (more…)
Increase in rents due to landlords selling
Friday, September 11th, 2009According to recent surveys many landlords are now selling their properties albeit reluctantly, and this is driving the cost of rents up for tenants who wish to rent a property. (more…)
House prices at the end of 2009 could be higher than the end of 2008
Thursday, September 10th, 2009Industry officials have recently predicted that property values in the UK could be higher at the end of this year than they were at the end of last year. (more…)
Drop in mortgage arrangement fees
Wednesday, September 9th, 2009Whilst much of the news relating to mortgage and housing affordability in the UK has been bleak for quite some time, there has been a little good news for consumers recently. (more…)
Broker banned and fined by regulator
Sunday, September 6th, 2009Over recent years mortgage fraud has become a big problem in the UK as well as in other countries and the UK’s financial regulator, the Financial Services Authority, has been clamping down on this sort of activity through taking various measures including hefty fines and bans for those industry officials that are found to be involved in mortgage related fraud. (more…)
Bank of China looks for prime mortgage borrowers in UK
Saturday, September 5th, 2009It has been reported that whilst UK banks are restricting lending to borrowers from the UK some foreign banks are hoping to increase business by taking on some of the UK consumers who are struggling to get the finance that they need from UK lenders. (more…)
Bank charges whilst mortgage defaults rising are unfair
Friday, September 4th, 2009According to recent figures that have been released by the Council of Mortgage Lenders the number of mortgage defaults in the UK has been rising, and have hit a twelve year high.
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