Figures that have been recently released have shown that for the month of November there was a drop of 10 percent in mortgage lending in the UK compared to the previous month. The figures suggest that mortgage lending in November hit the lowest level since May of this year. The Council of Mortgage Lenders has stated that the mortgage lending levels of November of this year were also down by around 14 percent compared to the same month last year. (more…)
Posts Tagged ‘mortgages’
Fall of 10 percent in mortgage lending
Tuesday, January 5th, 2010
Stamp duty suspension was not as useful as hoped
Saturday, November 28th, 2009Last 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…)
Increased demand for mortgage advice from first time buyers seen as sign of recovery
Thursday, November 19th, 2009According 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…)
Borrowers being pushed onto costly fixed rates by lenders
Tuesday, November 17th, 2009A 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…)
Mortgage lending propped up by first time buyers
Monday, November 16th, 2009It 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…)
Turnaround with buy to let reference checks
Sunday, November 8th, 2009For 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…)
90 percent mortgages withdrawn by Britannia
Saturday, November 7th, 2009First 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…)
First time buyers get some good news
Thursday, November 5th, 2009Earlier 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…)
90 percent mortgages available through Nationwide
Monday, November 2nd, 2009High 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…)
Mixed news on mortgage lending
Friday, October 30th, 2009Over 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…)
Shake up in store for the mortgage market
Thursday, October 29th, 2009Over 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…)
Tips for First Time Home Buyers
Tuesday, October 20th, 2009Buying your first home is an exciting, yet daunting experience. It is likely that this purchase is the biggest financial commitment you will ever make in your life and the prospect of taking out a loan that will take you about 25 years to repay is something that could keep you awake at night. (more…)
Some homeowners could benefit from not overpaying on their mortgage
Friday, October 9th, 2009With 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…)
Percentage fees now charged on 50 percent of mortgages
Thursday, October 8th, 2009Recent research has revealed that an increasing number of mortgage lenders are now charging a percentage fee on their fixed rate mortgage products. (more…)
Payments on mortgages fall to lowest level in seven years
Wednesday, October 7th, 2009Despite 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…)
New website launched by government for those struggling with mortgages
Tuesday, October 6th, 2009As 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…)
Growth in mortgage confidence reported
Friday, October 2nd, 2009One 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…)
No change to interest rates for September
Tuesday, September 22nd, 2009With 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…)
Government Schemes to Help People Keep Their Homes
Monday, September 21st, 2009With so many people in the UK struggling to make their mortgage payments and finding themselves fighting a losing battle, the government has initiated several schemes to help them keep their homes and not have to suffer through repossession by lenders. (more…)
Soaring unemployment could lead to rising level of mortgage defaults
Sunday, September 20th, 2009It 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…)
Mortgage lending continues to rise
Friday, September 18th, 2009Figures 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…)
Many middle class households may suffer due to interest only mortgages
Wednesday, September 16th, 2009According 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…)
Many first time buyers have been seeking mortgage advice
Sunday, September 13th, 2009It 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…)
Drop in mortgage arrangement fees
Wednesday, September 9th, 2009Whilst 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…)
Broker banned and fined by regulator
Sunday, September 6th, 2009Over 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…)
Bank of China looks for prime mortgage borrowers in UK
Saturday, September 5th, 2009It 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…)
Bank charges whilst mortgage defaults rising are unfair
Friday, September 4th, 2009According 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.
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How good is your equity release advisor?
Thursday, August 27th, 2009With the financial climate still in a dire state, and the recession adding increasing pressure to consumers all across Britain, a rising number of older homeowners have decided to turn to equity release programmes over recent months in order to free up some cash from their property and give themselves some extra spending power in what has become a difficult financial situation. (more…)
How first time buyers are faring in the current climate
Monday, August 24th, 2009It seems that no matter what happens first time buyers in the UK are destined to get a raw deal when it comes to trying to get onto the property ladder. (more…)
Some of the ways in which banks are getting more money from consumers
Friday, August 21st, 2009Over the past couple of years banks have found themselves increasingly under fire, having been found guilty of irresponsible lending, partly fuelling the financial crisis, and seeing their own finances suffer as a result. (more…)