It has been revealed that action being taken by the Ministry of Justice could result in a greater degree of protection for homeowners that could otherwise be at risk of losing their homes because of their inability to make repayments on personal debts such as credit cards. (more…)
Posts Tagged ‘finance’
Increased protection could be put into place for homeowners in debt
Thursday, February 25th, 2010
FSA proposes new rules for those in mortgage arrears
Thursday, February 18th, 2010Over the past couple of years, with the credit crunch, recession, and pay freezes affecting so many households, a rising number of homeowners have fallen behind with repayments on their mortgages, and for many this has resulted in the loss of their homes through repossession. (more…)
Continued popularity for variable rate mortgages
Monday, February 15th, 2010Whilst there was a time when people wanted to avoid variable rate mortgages because of the high rate of interest attached to them many people at the moment are finding that these are the most cost effective mortgage types to opt for because of the record low interest rate that is still in place. (more…)
Nationwide predicts good news for house prices
Saturday, February 13th, 2010Amidst the news that the UK has now come out of recession and things in the property market are looking somewhat brighter than they have for some time one leading High Street lender has now predicted further good news for the property market. According to the Nationwide house prices in the UK are continuing to increase, and the rate of house price increases could rise to over 10 percent a year. (more…)
Interest rates to be curbed on pay day loans
Friday, February 12th, 2010Over recent years pay day loans have become increasingly popular amongst certain consumers such as those that are on low incomes and those with poor credit ratings. (more…)
Houses were more affordable five decades ago than now
Wednesday, February 10th, 2010According to the High Street lender, Halifax, the quality of homes across the UK has improved over the past few decades but affordability is now lower than it was fifty years ago. (more…)
Could shared ownership be the answer to your property dreams?
Saturday, December 19th, 2009For many would be first time buyers the dream of homeownership has never been quite within reach. For many years the price of property in the UK was so high that most first time buyers did not have the income to get the mortgage that they needed, despite the fact that many lenders were increasing income multiples to as high as six or seven times the income. (more…)
Repossessions relating to credit card debt could increase
Friday, December 18th, 2009There are concerns that the number of repossessions in the UK that stem from credit card debt rather than secured debt may start to increase, which means that many people that may have kept on top of their mortgage repayments and other secured debts could still end up losing their home because of other debts that they have defaulted in even if the debt was not a secured one such as credit cards. This is due to proposals that are set to go into consultation over the coming weeks. (more…)
Experts give opinions on FSA mortgage lending regulation changes
Tuesday, December 15th, 2009The mortgage markets have been turbulent to say the least over the past couple of years, and many of the problems that have almost brought the financial sector to its knees have been blamed on irresponsible mortgage lenders over the past decade, where high income multiples, extended repayment periods, lending to those with bad credit, jumbo mortgages, and high risk lending was all part and parcel of the mortgage lending sector. (more…)
Ban on self cert mortgages will not cut off everyone with an irregular income
Friday, December 11th, 2009Since 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.
Acknowledge and deal with your debts
Monday, May 26th, 2008It can be very tempting for those with a high level of debt and financial commitment to simply try and ignore their financial worries once difficulties set in. Many people think that burying in their heads in the sand and trying to ignore financial worries means that they will not get stressed over the situation, but in fact failing to address this sort of problem can actually make the whole situation much worse, and could ultimately result in health problems, family problems, credit problems, and even legal action – or worse still loss of your home if you have secured finance. (more…)
Make the most of the Internet for your finance needs
Wednesday, May 14th, 2008Anyone that needs to find suitable finance or credit can enjoy a number of options when it comes to finding the right finance package or financial product. Whilst it is certainly true that the number of different financial products, and access to these financial products, has decreased over recent months as a result of the global credit crunch there are still a number of finance options available for those looking for credit. There are a number of ways in which you can find out about the different options on offer when it comes to getting finance. (more…)
Lenders need to be more cautious
Wednesday, May 14th, 2008Over recent months we have all heard about the various effects of the global credit crunch, which has created havoc in the UK’s money markets and has resulted in many changes. One of the major changes that most of us have heard about is the tighter credit conditions that have resulted from the credit squeeze. According to reports lenders have really tightened up on their lending criteria, are being far more careful with regards to how much new business they take on, and are being far more cautious about who they will lend to. (more…)
The credit squeeze continues
Monday, May 12th, 2008It was in the summer of last year when most of us heard the expression ‘global credit crunch’ for the first time. At that time few of us knew just what a dominating force the credit crunch would be in the world of finance, but over eight months later this phenomenon continues to wreak havoc in the financial markets both in the UK and across the globe. (more…)
Loans For Bad Credit Applicants
Sunday, March 2nd, 2008With the high level of consumer debt in the UK, and the rising costs experienced by most households, it is little wonder that an increasing number of us are finding that our credit history and rating has been affected. Having bad credit is nothing unusual these days, but it is, of course, important to try and avoid bad credit, as it can have a profound impact on your financial future. If you have bad credit you could find it increasingly difficult to get finance in the future. However, that said, there are now a number of lenders that are able to specialise in offering finance to those with bad credit. (more…)
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