Archive for the ‘Mortgage News’ Category


Economist warns on interest rate increases in 2010

Wednesday, September 30th, 2009

Since 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…)

Tags: interest rates, bank of england

Home buyers in Surrey can get expert advice

Tuesday, September 29th, 2009

People 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…)

Tags: home buying advice

Country homes holding prices better than town houses

Monday, September 28th, 2009

It 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…)

Tags: house prices, property prices

Home loan prices continue to rise

Sunday, September 27th, 2009

According 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…)

Tags: home loans, mortgage costs

Stamp duty holiday set to come to an end

Saturday, September 26th, 2009

The 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…)

Tags: mortgage costs, stamp duty, stamp duty holiday

Fall in auction prices compared to property market value

Friday, September 25th, 2009

It 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…)

Tags: house auctions, property values

Are Brits paying out a fortune for properties that are too small to live in?

Thursday, September 24th, 2009

Whilst 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…)

Tags: house prices, property prices

House prices increase between April and August

Thursday, September 24th, 2009

According 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…)

Tags: house prices, property values

No change to interest rates for September

Tuesday, September 22nd, 2009

With 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…)

Tags: interest rates, mortgages, bank of england

Soaring unemployment could lead to rising level of mortgage defaults

Sunday, September 20th, 2009

It 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…)

Tags: unemployment, mortgage defaults, mortgages

Mortgage lending continues to rise

Friday, September 18th, 2009

Figures 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…)

Tags: mortgages, mortgage lending

Many middle class households may suffer due to interest only mortgages

Wednesday, September 16th, 2009

According 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…)

Tags: mortgage repayment, interest only mortgages, mortgages

Many first time buyers have been seeking mortgage advice

Sunday, September 13th, 2009

It 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…)

Tags: first time buyers, mortgages

Increase in rents due to landlords selling

Friday, September 11th, 2009

According 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…)

Tags: rent increase, rental market, rental properties

House prices at the end of 2009 could be higher than the end of 2008

Thursday, September 10th, 2009

Industry 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…)

Tags: house prices, property market

Drop in mortgage arrangement fees

Wednesday, September 9th, 2009

Whilst 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…)

Tags: mortgage arrangement fees, arrangement fees, mortgages

Broker banned and fined by regulator

Sunday, September 6th, 2009

Over 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…)

Tags: Goldsparkle Consulting Services Limited, mortgage broker, Grace Nmadibechi Ada Ukala, FSA, mortgages

Bank of China looks for prime mortgage borrowers in UK

Saturday, September 5th, 2009

It 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…)

Tags: mortgages, bank of china mortgages, prime mortgages, bank of china

Bank charges whilst mortgage defaults rising are unfair

Friday, September 4th, 2009

According 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.
(more…)

Tags: mortgage defaults, mortgages, bank charges

Banks ‘choking’ the housing market

Wednesday, August 19th, 2009

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…)

Tags: mortgage approvals, housing market, mortgages

Bank announced increase in mortgage applications and approvals

Monday, August 17th, 2009

One 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…)

Tags: mortgages, mortgage applications

Nearly all endowment policies will fail to pay

Friday, August 14th, 2009

It 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…)

Tags: endowments, stock market, endowm, mortgages

Lenders warn over increased expense on mortgages

Thursday, August 13th, 2009

A 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…)

Tags: mortgages, first time buyers, mortgage applications

RICS predicts increase in property prices

Monday, August 10th, 2009

Officials 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…)

Tags: mortgages, property prices, housing market

Fluctuating house prices cause problems with valuations

Monday, August 10th, 2009

According 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…)

Tags: house prices, house survey, house valuations

10 percent of home sales being stopped because of mortgage problems

Sunday, August 9th, 2009

According to a recent report around 10 percent of property sales in the UK are being stopped as a result of problems with mortgages. (more…)

Tags: mortgage applications, mortgages

BBA reports increase in mortgage lending levels

Friday, August 7th, 2009

The 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…)

Tags: mortgage lending, mortgage approvals, mortgages

Brits may have to rely on foreign banks for finance

Tuesday, August 4th, 2009

With 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…)

Tags: foreign mortgages, mortgages, bank of china mortgages, bank of china

Stringency over home loans relaxed claims report

Tuesday, August 4th, 2009

A 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…)

Tags: mortgages, loans, home loans

Negative equity mortgages being offered to some customers by Nationwide

Monday, August 3rd, 2009

In 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…)

Tags: negative equity mortgages, nationwide, mortgages

Mixed reports on property market

Thursday, July 30th, 2009

A 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…)

Tags: prop, house prices, property market

June saw fall in property prices

Tuesday, July 28th, 2009

According to recently released figures there was a drop in property prices for the month of June, following four months of price increases. (more…)

Tags: house prices, property prices

Almost 25 percent of homeowners cannot get a new mortgage loan

Monday, July 27th, 2009

Earlier 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…)

Tags: homeowners, mortgages

Continued rise in property sales

Friday, July 24th, 2009

There 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…)

Tags: property sales, housing market

New home loans at highest level in over a year

Thursday, July 23rd, 2009

It 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…)

Tags: British Bankers Association, mortgages, home loans, mortgage approvals

First time buyers could enjoy lower deposits this summer

Wednesday, July 22nd, 2009

It 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…)

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

Another hold on the base interest rate

Tuesday, July 21st, 2009

Earlier this week the Monetary Policy Committee met up for the July monthly meeting with regards to reviewing the base interest rate. (more…)

Tags: interest rates, bank of england, base rate

Average property prices drop in June

Tuesday, July 21st, 2009

According 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…)

Tags: housing market, property prices

Base rate will remain low into next year

Monday, July 20th, 2009

Over 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…)

Tags: interest rates, base, mortgages

Savings on mortgage repayments being saved by families

Sunday, July 12th, 2009

Since 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…)

Tags: base rate, mortgage repayments, interest rate, bank of england

Recession to affect buy to let investors

Saturday, July 11th, 2009

A 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…)

Tags: mortgages, buy to let, buy to let mortgages

Mortgages for first time buyers dwindling

Friday, July 10th, 2009

mThe 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…)

Tags: first time buyers, mortgages

MPs could cross examine lenders over repossessions and home loans

Friday, July 10th, 2009

It 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…)

Tags: mortgages, home loans, repossessions

Thousands of mortgages a month being turned down by banks

Thursday, July 9th, 2009

Recently released figures have shown that every month thousand of mortgage applications in the UK are being turned down by lenders. (more…)

Tags: bank of england, council of mortgage lenders, mortgage approvals, lenders

Struggling Wiltshire homeowners now have help at hand

Wednesday, July 8th, 2009

According 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…)

Tags: wiltshire homeowners, mortgages, homeowners

Can recovery in housing market be sustained?

Monday, July 6th, 2009

Many 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…)

Tags: mortgages, housing market, fixed rate mortgages

Regulation brought in for sale and rent back

Sunday, July 5th, 2009

Sale 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…)

Tags: sale and rent back, sell and rent back, mortgages

More lower deposit mortgage needed to bolster mortgage market

Saturday, July 4th, 2009

An 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…)

Tags: mortgage deposit, mortgages

Fixed rate mortgages will continue to increase

Friday, July 3rd, 2009

An 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…)

Tags: mortgages, fixed rate mortgages

Mortgage lending fell back in May

Thursday, July 2nd, 2009

According 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…)

Tags: mortgage lending, mortgages, mortgage approvals

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