Archive for the ‘Mortgage News’ Category


House prices to fall again next year

Wednesday, December 23rd, 2009

Whilst 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…)

Tags: Kate Barker, Monetary Policy Committee, Housing market crisis in the United Kingdom, Peter Bolton King, Inflation, National Association of Estate Agents

Lenders offer 125 percent mortgages to existing customers

Wednesday, December 16th, 2009

Over 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: council of mortgage lenders, credit, Trinity Financial Group Limited, Subprime mortgage crisis, negative equity, 125% mortgages, Conventry Building Society, mortgage

Cumberland Building Society gets national award

Tuesday, December 15th, 2009

The 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: Best Regional Building Society, cumberland building society, mortgage, building society, Cumberland, mortgage broker

Mortgage lending in October increased compared to previous month

Monday, December 14th, 2009

Figures 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: mortgage, bank of england, economist, Danish mortgage market, interest rates, Financial economics, Subprime crisis impact timeline, Subprime mortgage crisis

Consumer should not switch mortgages without banking fees

Friday, December 11th, 2009

Consumers 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, banking fees, mortgage fees, mortgage charges, Banking, banking charges

Ban on self cert mortgages will not cut off everyone with an irregular income

Friday, December 11th, 2009

Since 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.

(more…)

Tags: self certificate mortgages, council of mortgage lenders, Lesley Titcomb, mortgage, Banking, contract worker, finance, Financial Services Authority, self cert mortgages

Property market more active than usual for this time of year

Thursday, December 10th, 2009

It 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, Interest, property market, debt, Christmas

Rent to Home-buy scheme deemed unsuccessful

Wednesday, December 9th, 2009

The 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: Property law, Personal finance, Conservative Party, Real property law, mortgage, Labour Government

Rise in the number of landlords obtaining buy to let mortgages

Monday, December 7th, 2009

Figures 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: Paragon, Landlord, real estate, mortgage, mortgage group, buy to let, council of mortgage lenders

Bloomberg survey suggest up to five years for full house price recovery

Friday, December 4th, 2009

Since 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, mortgage, Capital Economics, Bloomberg L.P., Valuation

Fake Payslips Beig Bought Online For Mortgage Fraud

Wednesday, December 2nd, 2009

Following 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…)

Tags: mortgage, bank accounts, Dominic Green, Financial Services Authority, fake payslips

FSA accused of treating lenders like drug dealers

Tuesday, December 1st, 2009

The 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…)

Tags: Matthew Wyles, mortgage, council of mortgage lenders, Banking, Financial Services Authority

Nationwide predicts downward spiral for house prices

Sunday, November 29th, 2009

The 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: house prices, Graham Beale, nationwide, property prices

Stamp duty suspension was not as useful as hoped

Saturday, November 28th, 2009

Last 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: first time buyer, mortgages, stamp duty

Woolwich tightens affordability calculations

Thursday, November 26th, 2009

The 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…)

Tags: financial advisor, Barclays, woolwich mortgages, mortgage

Bank of England throws more money at economy

Tuesday, November 24th, 2009

Following 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, interest rate, Monetary Policy Committee, bank of england, Inflation, Chancellor of the Exchequer

Homeowners given advice on making money from their home

Monday, November 23rd, 2009

In 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: Subprime mortgage crisis, mortgage, Fractional renting, Foreclosure rescue scheme, Renting

Platform withdraws from self cert mortgage market

Saturday, November 21st, 2009

Conditions 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: Offset mortgage, mortgage, The Platform Company, self cert mortgages, last remaining mortgage lender

Increased demand for mortgage advice from first time buyers seen as sign of recovery

Thursday, November 19th, 2009

According 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: mortgages, first time buyers, mortgage advice

Borrowers being pushed onto costly fixed rates by lenders

Tuesday, November 17th, 2009

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…)

Tags: fixed rate mortgages, mortgages

Mortgage lending propped up by first time buyers

Monday, November 16th, 2009

It 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: mortgages, fixed rate mortgages, first time buyers

Property prices see annual rise

Sunday, November 15th, 2009

Figures 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…)

Tags: property prices, house prices

Rise for Northern Ireland homes unlikely

Thursday, November 12th, 2009

An 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…)

Tags: northern ireland house prices

Northern Rock tries to tempt more customers

Wednesday, November 11th, 2009

Nationalised 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…)

Tags: northern rock mortgages, northern rock

Turnaround with buy to let reference checks

Sunday, November 8th, 2009

For 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…)

Tags: buy to let, mortgages

90 percent mortgages withdrawn by Britannia

Saturday, November 7th, 2009

First 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…)

Tags: Britannia mortgages, mortgages

First time buyers get some good news

Thursday, November 5th, 2009

Earlier 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…)

Tags: mortgages, first time buyer mortgages, first time buyers

Homeowners urged to fix rate before it is too late

Wednesday, November 4th, 2009

For 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…)

Tags: mortgage rates, fixed rate mortgages

Property prices will not return to levels seen previously

Tuesday, November 3rd, 2009

Over 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…)

Tags: housing market, property prices

90 percent mortgages available through Nationwide

Monday, November 2nd, 2009

High 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…)

Tags: mortgages, 90% mortgages

Property still not affordable enough for first time buyers

Monday, November 2nd, 2009

Since 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…)

Tags: property prices, first time buyers

One hundred thousand homeowners a month benefit from low interest rates

Saturday, October 31st, 2009

According 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…)

Tags: low mortgage rates, interest rates

Mixed news on mortgage lending

Friday, October 30th, 2009

Over 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…)

Tags: mortgages, mortgage lending, mortgage approvals

Shake up in store for the mortgage market

Thursday, October 29th, 2009

Over 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…)

Tags: post office mortgages, mortgages

Cheaper to buy than rent in most areas

Thursday, October 22nd, 2009

According 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…)

Tags: rental costs, mortgage costs

Mortgage repayment savings being used to pay off credit card debt

Thursday, October 22nd, 2009

It 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…)

Tags: credit card debt, interest rates, mortgage repayments

Slight drop in house prices in UK

Wednesday, October 21st, 2009

Over 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…)

Tags: house prices, house market

Brits playing it safe with overseas properties

Monday, October 19th, 2009

Brits 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…)

Tags: overseas mortgages, foreign mortgages, overseas properties

Many Brits think this is the time to buy a home

Sunday, October 18th, 2009

The 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…)

Tags: buy home, house market

Highest number of mortgage complaints received by Bank of Scotland

Friday, October 16th, 2009

According 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…)

Tags: bank of scotland mortgage complaints, Financial Ombudsman Service, bank of scotland, mortgage complaints

Younger Scots being frozen out of the property market

Wednesday, October 14th, 2009

In 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…)

Tags: property market, scotland house prices

Lucky mortgage payer wins repayments for a year

Tuesday, October 13th, 2009

With 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…)

Tags: mortgage repayments, win mortgage repayments

Ulster Bank aims to increase lending

Monday, October 12th, 2009

Whilst 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…)

Tags: bank lending, ulster bank

Some homeowners could benefit from not overpaying on their mortgage

Friday, October 9th, 2009

With 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…)

Tags: overpay mortgages, mortgages

Percentage fees now charged on 50 percent of mortgages

Thursday, October 8th, 2009

Recent research has revealed that an increasing number of mortgage lenders are now charging a percentage fee on their fixed rate mortgage products. (more…)

Tags: mortgages, mortgage percentage fees, mortgage fees

Payments on mortgages fall to lowest level in seven years

Wednesday, October 7th, 2009

Despite 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…)

Tags: mortgage repayments, mortgages

New website launched by government for those struggling with mortgages

Tuesday, October 6th, 2009

As 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…)

Tags: mortgage help, mortgages, mortgage repayments

Many homeowners refuse to drop property prices

Monday, October 5th, 2009

Over 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…)

Tags: housing market, property prices

Current property price increases ‘unsustainable’

Saturday, October 3rd, 2009

Over 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…)

Tags: property prices, housing market

Growth in mortgage confidence reported

Friday, October 2nd, 2009

One 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…)

Tags: mortgage growth, mortgages

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