Banks in the UK have been accused recently of ‘choking’ the housing market by failing to hand out mortgage loans, even to the best buyers with five star credit. (more…)
Archive for the ‘Mortgage News’ Category
Banks ‘choking’ the housing market
Wednesday, August 19th, 2009
Bank announced increase in mortgage applications and approvals
Monday, August 17th, 2009One bank has recently reported that there has been an increase in mortgage applications as well as mortgage approvals, with the rock bottom base interest rate and relatively low property prices continuing to create a flurry of interest in the property market. (more…)
Nearly all endowment policies will fail to pay
Friday, August 14th, 2009It has been revealed that almost all endowment policies will not actually cover the cost of repaying the mortgage at the end of the term. (more…)
Lenders warn over increased expense on mortgages
Thursday, August 13th, 2009A warning has been issued by lenders with regards to the expense of mortgages, with officials stating that restraints on mortgage lending are set to continue, and certainly aren’t likely to ease up in the near future. (more…)
RICS predicts increase in property prices
Monday, August 10th, 2009Officials from the Royal Institute of Chartered Surveyors have predicted that there will be an increase in property prices over the coming three months, bringing fresh hope to the millions of people that have been affected by falling property prices since the onset of the global credit crunch. (more…)
Fluctuating house prices cause problems with valuations
Monday, August 10th, 2009According to industry experts problems are arising for surveyors when it comes to accurately providing property valuations, and this is because of the fluctuation in property prices. (more…)
10 percent of home sales being stopped because of mortgage problems
Sunday, August 9th, 2009According to a recent report around 10 percent of property sales in the UK are being stopped as a result of problems with mortgages. (more…)
BBA reports increase in mortgage lending levels
Friday, August 7th, 2009The British Banker’s Association has recently reported that whilst mortgage lending did hit rock bottom levels over the past couple of years June saw mortgage lending levels increase to their highest level in around fifteen months. (more…)
Brits may have to rely on foreign banks for finance
Tuesday, August 4th, 2009With lending conditions amongst banks in the UK still highly restricted it has been revealed that some of us may have to learn to rely on foreign banks for our financial needs until the UK lending system sees some form of improvement. (more…)
Stringency over home loans relaxed claims report
Tuesday, August 4th, 2009A recent report has suggested that the stringency in the mortgage lending industry, which has been seen over the past two year since the onset of the global credit crunch, is now being relaxed slightly, as many are concerned that if it continues it could hamper the possibility of recovery within the property market. (more…)
Negative equity mortgages being offered to some customers by Nationwide
Monday, August 3rd, 2009In response to the rising number of homeowners that have fallen into negative equity since the house price crash in the UK one leading lender has re-introduced the 125 percent mortgage. (more…)
Mixed reports on property market
Thursday, July 30th, 2009A recent report has shown that there is mixed news about the property market in the UK, with good news about increased mortgage lending being hampered by bad news about negative equity levels. (more…)
June saw fall in property prices
Tuesday, July 28th, 2009According to recently released figures there was a drop in property prices for the month of June, following four months of price increases. (more…)
Almost 25 percent of homeowners cannot get a new mortgage loan
Monday, July 27th, 2009Earlier this month a report was released that indicated that almost a quarter of all homeowners in the UK were unable to find a new home loan deal. (more…)
Continued rise in property sales
Friday, July 24th, 2009There has been a continued increase in the number of properties being sold in the UK according to recently released figures from HM Revenue and Customs. (more…)
New home loans at highest level in over a year
Thursday, July 23rd, 2009It was recently reported by the British Banker’s Association that the level of new home loans for the month of May jumped to its highest level in over a year. (more…)
First time buyers could enjoy lower deposits this summer
Wednesday, July 22nd, 2009It has been suggested that first time buyers could finally see some light at the end of the tunnel this summer, as there may be mortgages available that do not demand impossibly high deposits from borrowers. (more…)
Another hold on the base interest rate
Tuesday, July 21st, 2009Earlier this week the Monetary Policy Committee met up for the July monthly meeting with regards to reviewing the base interest rate. (more…)
Average property prices drop in June
Tuesday, July 21st, 2009According to a recent report the average price of property in the UK fell in June following four months of increases. The data comes from the property website Right Move, which claims that in the weeks leading to 13th June property prices fell by 0.4 percent, which took the average property price to £226,436. (more…)
Base rate will remain low into next year
Monday, July 20th, 2009Over the past eight months a series of base rate cuts by the Bank of England have seen the base interest rate plummet to its lowest level in the three hundred and fifteen year history of the Bank of England, standing at just 0.5 percent. According to recent reports many industry experts are now expecting the base interest rate to remain at this historic low level well into the course of next year. (more…)
Savings on mortgage repayments being saved by families
Sunday, July 12th, 2009Since the onset of the global credit crunch the government and the Bank of England have been trying to find ways of boosting the ailing economy, housing market, and mortgage sector. (more…)
Recession to affect buy to let investors
Saturday, July 11th, 2009A recent survey has shown that many people believe that the ongoing recession in the UK is going to have an adverse effect on buy to let investors, with many expected to make significant losses on their property investments. (more…)
Mortgages for first time buyers dwindling
Friday, July 10th, 2009mThe number of mortgages available for first time buyers is dwindling according to a recent report, dealing yet another blow to the many first time buyers that are already struggling to get onto the market. (more…)
MPs could cross examine lenders over repossessions and home loans
Friday, July 10th, 2009It has been reported recently that some lenders in the UK could face questioning from MPs next month over two issues that have been at the forefront of the news for some time, and this includes the rising levels of repossessions in the UK and the plunging levels of home loans available to consumers. (more…)
Thousands of mortgages a month being turned down by banks
Thursday, July 9th, 2009Recently released figures have shown that every month thousand of mortgage applications in the UK are being turned down by lenders. (more…)
Struggling Wiltshire homeowners now have help at hand
Wednesday, July 8th, 2009According to a recent report a new scheme has been rolled out across Wiltshire to try and help the many struggling homeowners in the area that could be at risk of losing their homes through repossession. (more…)
Can recovery in housing market be sustained?
Monday, July 6th, 2009Many industry officials have recently been speculating about whether any recovery in the housing market can be sustained, after figures released showed that mortgage interest rates have been increasing for the first time in the space of a year. (more…)
Regulation brought in for sale and rent back
Sunday, July 5th, 2009Sale and rent back schemes have been at the centre of controversy over the past couple of years. Since the onset of the global credit crunch, and with property prices falling, an increasing number of people have turned to these sale and rent back firms in order to avoid losing their homes altogether through repossession. (more…)
More lower deposit mortgage needed to bolster mortgage market
Saturday, July 4th, 2009An industry expert has recently claimed that an increase in the number of lower deposit mortgages is urgently required in order to help the ailing mortgage market in the UK. (more…)
Fixed rate mortgages will continue to increase
Friday, July 3rd, 2009An industry expert has recently stated that fixed rates on mortgages in the UK are set to continue to increase, even though the base interest rate remains at the all time low of just 0.5 percent. (more…)
Mortgage lending fell back in May
Thursday, July 2nd, 2009According to recently released figures mortgage lending in the UK fell back again in the month of May. The figures were released by the Council of Mortgage lenders, and the data on the report showed that gross lending was around 2 percent lower in May than it was in April, standing at around £10.3 billion. (more…)
Bank of England confirms negative equity figures
Thursday, July 2nd, 2009The Bank of England has recently confirmed figures relating to the levels of negative equity amongst homeowners in the UK following around twenty months of house price falls. (more…)
Rate Matcher returns from HSBC
Tuesday, June 30th, 2009Earlier this month the High Street banking giant HSBC brought back one of its popular mortgage products, the Rate Matcher mortgage, which promised to match or beat a homeowner’s current rate and fix it for two, three, or five years. (more…)
65 percent of would be first time buyers face gloomy outlook
Tuesday, June 30th, 2009It has been reported that as many as 65 percent of would be first time buyers that may have been hoping to get onto the property ladder before house prices start increasing again may have little or no luck, as they do not think that they will be able to afford to do so. (more…)
Mortgage customers being exploited by banks claims report
Tuesday, June 30th, 2009A recent report has claimed that many of the UK’s banks are exploiting their mortgage customers, with the banks’ profit margins soaring to the highest levels seen since the onset of the global credit crunch. (more…)
Many will be able to clear mortgages before repayment term ends
Monday, June 29th, 2009It has been claimed recently that many homeowners with mortgages in the UK will be able to benefit from paying their mortgage loans off far earlier than the scheduled repayment date thanks to the historically low base rate, which has stood at o.5 percent for some months. (more…)
Hope for council tenants in Dundee that want to buy their homes
Sunday, June 28th, 2009Over recent years a variety of mortgage lenders have launched special deals for people living in council houses who are interested in buying their homes and getting onto the property ladder. (more…)
Consumers looking for mortgages over longer terms
Friday, June 26th, 2009According to official from a mortgage broker group more and more people in the UK are now looking to take mortgage loans out over longer terms. The officials claim that over half of the people that came to get help in finding a mortgage product were looking for terms of at least three years. (more…)
Borrowing levels affected over uncertainty about finances
Wednesday, June 24th, 2009According to a recent report the borrowing levels of consumers in the UK are being affected by uncertainty over their finances. Officials from the British Bankers Association have said that households’ uncertainty over their finances is leading to lower levels of borrowing, with net mortgage lending amongst UK lenders at its lowest level in eight years in April, standing at £2.7 billion. (more…)
Regulator continues to crack down on mortgage fraud
Tuesday, June 23rd, 2009Since the onset of the global credit crunch in 2007 mortgage related fraud has become increasingly prevalent in the UK, as well as in other countries such as the United States. (more…)
Only one family saved by mortgage rescue scheme
Monday, June 22nd, 2009A recently released report claimed that whilst the mortgage rescue scheme launched by the government had been aimed at stopping many families from losing their homes, only one family had actually benefited from it. (more…)
Mortgages for home buyers increased in March
Friday, June 19th, 2009Recently released figures relating to the mortgage market and housing activity have shown that during the month of March mortgage approvals for people that were buying properties increase by around one third. (more…)
Fall back in mortgage lending for April
Thursday, June 18th, 2009A recent report released by the Council of Mortgage Lenders has claimed that the level of mortgage lending for the month of April fell back again, following a surprise increase in mortgage lending for the month of March. (more…)
Increase in mortgage approvals for April
Tuesday, June 16th, 2009Despite the doom and gloom that has been surrounding the mortgage markets over the past year or do, recent figures have shown that there was an increase in mortgage approvals for the months of April, brightening the dark mood that has been surrounding the mortgage industry over recent months. (more…)
Slight increase in house prices reported for May
Monday, June 15th, 2009According to figures that were recently released in relation to UK property values house prices for the month of May edged up slightly from April, rising by 1.2 percent for the months. (more…)
Officials think homeowners should fix interest rates
Friday, June 12th, 2009According to recent report some industry officials are encouraging homeowners and new buyers to fix their mortgage interest rates amidst speculation that the base interest rate could rise sharply in the future having been slashed over the past seven months and having falling to its lowest level in the three hundred and fifteen year history of the Bank of England, at 0.5 percent. (more…)
Nationalised bank makes obscene profits from customers
Wednesday, June 10th, 2009Earlier this month the nationalised bank, Northern Rock, was accused of making ‘obscene’ profits from its mortgage customers. (more…)
Home sales restricted by negative equity
Thursday, June 4th, 2009Lenders have recently stated that the number of property transactions and home moves is set to be seriously hampered by the fact that so many people are now in or facing negative equity as a result of plunging property valued. (more…)
Mortgages a struggle for those with damaged credit
Thursday, June 4th, 2009Whilst people that have had bad credit ratings in the past have found that there is far less choice when it comes to getting finance such as mortgages, there is little doubt that since the onset of the global credit crunch things have got far worse for this group. (more…)
FSA takes action against broker
Sunday, May 31st, 2009The UK’s financial regulator, the Financial Services Authority, has recently taken action against a mortgage broker that was said to be involved in fraudulent activity. (more…)