With interest rates starting to rise, many homeowners have gotten used to low monthly payments on their mortgage.

These are uncertain times. Unemployment is on the rise, property prices have crashed leaving many with negative equity problems, savings are attracting low rates of interest and the nation has tightened its belt. Or so it seemed. There may be an area of growth right now after all- in the ‘buy now, pay later’ finance [...]

The interest rates for mortgages in the UK are at the lowest level they have been in 300 years. Many homeowners are wondering if they should lock in their mortgage at these lower rates in an attempt to save money on their mortgage payments.

The crash of the real estate market has dashed the hopes of many Britons who expected to sell their homes this year and move into large properties. The inventory of homes on the market is in excess with foreclosures and the homes that have been languishing on the market for many months.

When the real estate market started to show signs of decline in 2007, the first step taken by lenders was to tighten the lending restrictions for first time home buyers making it more difficult for them to obtain a mortgage.

Since October of 2007 house prices in the UK have been falling month on month, and have so far plunged by around 20 percent compared to their peak.

According to a recent report there has been a notable rise in the number of tenants being evicted from private landlord properties, and this is as a result of the landlords being unable to keep up with repayments on the mortgage on the property, thus resulting in repossession of the property.

With the world in a recession, house prices in the UK have fallen to levels not seen since March 2005. There has been a drop of 15.1% in prices in the past few months and in January alone, the housing market suffered a 0.8% decrease in prices.

There is little doubt that the past year has been a shocking one in the housing and mortgage sector, and the lack of mortgages and tighter credit conditions that have stemmed from the global credit crunch have had a severe knock on effect on the house market.

As most people are already well aware mortgage conditions and credit conditions in general have become increasingly tough since the onset of the global credit crunch in the latter part of 2007.

In 2008 the UK went through a very turbulent financial period, and after ten years of relatively laid back and easy credit conditions many consumers felt the sharp shock of suddenly being unable to get their hands on affordable credit.

With the downturn in the economy that has thrown markets all over the world into a slump in recent months, the number of homes being repossessed by lenders is increasing at a rapid pace.

As most people are only too well aware the housing market is still going through a severe slump at present, with house prices plummeting and many struggling to sell their homes for as much as they hoped. For many the housing slump has proven to be bad news but for some people the plummeting house [...]

Earlier this month the government announced further details relating to the homeowner mortgage support scheme that was first mentioned by the Prime Minister, Gordon Brown, at the beginning of December. The basic aim of the scheme appears to be quite simple – that homeowners will receive assistance and support with regards to mortgage interest payments [...]

Each year a number of major lenders in the UK, along with the Council of Mortgage Lenders, tend to prepare a forecast for house prices in the UK over the coming year. However, this year has been very different, largely due to the turbulent housing market, tumbling house prices, and the unpredictable climate. In fact, [...]

Things have not been easy for the average first time buyers for many years when it comes to getting onto the property ladder. The last ten years has seen many first time buyers priced out of the market, as property prices in the UK have rocketed, leaving many unable to entertain the idea of getting [...]

Most people are well aware that the financial sector has been deeply affected over the past year as a result of the global credit crunch, which has affected all sectors of the financial industry and has seen credit conditions become far tighter and borrowing rates become far more expensive.
However, over the past year the base [...]

Reports have shown that October saw a further decrease in mortgage approval levels, falling by nearly two thousand compared to September and plunging by a massive 52 percent compared to October of last year. It is thought that part of the reason behind the fall in mortgage approval levels is that consumers have found other [...]

If you are in danger of facing repossession at the moment then you are not alone, as there has been a sharp increase in the level of repossessions of late, with more and more homeowners losing their homes. In fact, figures have recently been released that show the level of repossessions for the third quarter [...]

Many consumers in the UK have had a very difficult financial year over the past twelve months for a number of reasons. Whilst interest rates have now dropped to 3% after some drastic cuts by the Bank of England many have spent the past year trying to cope with high repayments, which has left them [...]

The subject of PPI, or Payment Protection Insurance, has been a controversial one for the past couple of years, with a huge amount of controversy relating to the mis-selling or this cover, and financial authorities really clamping down on lenders and providers that are found to be breaching guidelines relating to PPI sales. The bad [...]

According to recent reports many borrowers may start to benefit from the recent base interest rate cuts, as many lenders – under pressure from the Prime Minister, Gordon Brown – are now responding the recent rate cuts, and are cutting their own borrowing interest rates accordingly. In October of this year the Bank of England, [...]

The recent collapse and part nationalisation of Bradford and Bingley came as a shock to some, and none more so than the many buy to let landlords that have been affected by what has happened to the lenders. The Bradford & Bingley has been a primarily buy to let lender, and many landlords may have [...]

As most people are only too aware the value of property has been falling month on month for the past year, and property prices have plummeted since they hit their peak last October. Many homeowners have seen thousands of pounds wiped off the value of their homes in the space of just one year, and [...]

The financial news has been filled with stories about problems relating to payment protection insurance or PPI, with evidence that this insurance has been mis-sold to consumers for a number of years, and that lenders were using a range of tactics to try and make borrowers take out this cover when taking out finance.

The value of properties across the UK has been falling over the past year, and it is thought that house prices now are around 13% lower than they were at their peak, which was last October. However, despite the house prices falls the ten year housing boom over the past decade means that the cost [...]

Over the past year many homeowners have lost their homes to repossession as a result of falling behind on mortgage repayments as credit conditions have become more difficult and living costs have soared. With the financial markets and the housing markets in their worst state in decades the government has decided to take action and [...]

Over the last couple of years we have heard more and more about sale and rent back schemes, which many of us may never have heard of before. However, since interest rates started to soar in 2006, many homeowners found that they were not able to keep up with rising mortgage repayments, and this resulted [...]

Although the subject of loan insurance, otherwise known as Payment Protection Insurance or PPI, has been at the centre of heated controversy for some time, this product still continues to attract complaints from customers and concerns from a variety of industry professionals. In fact, the UK’s financial regulator, the Financial Services Authority, and the Financial [...]

Although the subject of loan insurance, otherwise known as Payment Protection Insurance or PPI, has been at the centre of heated controversy for some time, this product still continues to attract complaints from customers and concerns from a variety of industry professionals. In fact, the UK’s financial regulator, the Financial Services Authority, and the Financial [...]