For many years first time buyers have struggled to get onto the property ladder for one reason or another. For a number of years the problem has been the soaring price of property in the UK, but more recently, even thought house prices have been falling, other problems have emerged for first time buyers. This [...]

A recent article has suggested that struggling homeowners who are finding it difficult to make ends meet each month could benefit from opting for an interest only mortgage in order to reduce monthly repayments. It also suggests that those getting onto the property ladder for the first time could keep their monthly costs down to [...]

The Council of Mortgage Lenders has recently spoken out to defend its member banks, after some banks were criticised for failing to pass on base rate cuts and were accused of making a profit. The CML insists that its member banks are actually profiteering, and recently released a statement to this effect.

According to the results of a recent survey HSBC is the most competitive mortgage provider, having made forty two appearances in a top ten poll of mortgage providers by an online comparison site. The results were up to the end of September of this year, and resulted in the bank being dubbed the most consistently [...]

Officials from the Nationwide Building Society have recently stated that the fall in house prices in the UK could continue over the course of 2009 and even into 2010. The building society, which has slashed mortgage lending like many other lenders since the onset of the global credit crunch, has said that the housing market [...]

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 [...]

According to recently released figures there was a slight increase in the level of mortgage approvals in the UK during the month of September compared to the previous month. There were 21,342 mortgages approved for the month of August, and there was a slight increase for September, where 23,422 mortgages were approved. Whilst the slight [...]

In a recent report released earlier this month officials from the Council of Mortgage Lenders claimed that the number of value of homes loans had fallen to the lowest level of record, with the number of home loans dished out in the month of August standing at just 42,000, which reflects a drop of 59% [...]

A recent report has indicated that following the collapse and part nationalisation of the lender Bradford & Bingley, which dealt primarily with buy to let mortgages, many landlords could find themselves faced with the prospect of either selling their properties or being repossessed. Many landlords that are coming to the end of special deals such [...]

According to a recent report a huge number of mortgage products from lenders were axed following the high profile collapse of Bradford & Bingley, which was recently part nationalised. Shortly after the collapse over 10% of mortgage that were on offer to borrowers, buy to let investors, and those looking to remortgage were pulled from [...]

A recent report has indicated that the traditional 95% mortgage, with just a 5% deposit from the borrower, is becoming increasingly difficult to find. Until the onset of the credit crunch borrowers could easily get 95% mortgages, 100% mortgages, and even 125% mortgages, but over the past year all of this has changed. The 125% [...]

With interest rates still high and consumer affordability stretched many people looking to remortgage or take out a new home loan are looking out for competitive headline rates to try and get the best deal possible at a financially difficult time. However, industry experts have stated that consumers need to be careful that they do [...]

According to some officials plans being looked into by ministers and the government to try and rescue the mortgage market could end up costing taxpayers around £40 billion. Reports have suggested that the government may will looking to underwrite billions of pounds worth of mortgages in a scheme that would see the type of government [...]

The interest rates on some mortgage products are now almost the same as they were in the summer of last year before the onset of the global credit crunch, according to a recent report. Officials from Moneyfacts have recently researched mortgage interest rates, and have found that in many cases they average rates are only [...]

There is little doubt that the mortgage market in the UK is still reeling from the havoc caused by the global credit crunch, which made its way across the Atlantic last summer, leaving a trail of destruction in its path. The mortgage industry has been suffering for a year now, with lenders unable to raise [...]

There has been a great deal of speculation over when and by how much the Bank of England will cut the base interest rate over the next year, with inflationary pressures coupled with the threat of recession making decisions challenging for the Monetary Policy Committee. A number of industry officials have now said that the [...]

One member of the Monetary Policy Committee, which is involves in cutting rates, has recently called for major cuts to the UK’s base rate in order to avoid an economic slump that could last for a long period of time. The warning comes from MPC member David Blanchflower, who has been consistently voting for a [...]

Both consumers and lenders have been adversely affected by the global credit crunch since it swept across the nation last summer. Lenders have found it increasingly difficult and expensive to secure finance on the wholesale money markets to fund their mortgage lending activities, and as such have had to slash the number of mortgage products [...]

A recent report has shown that there was a slight upturn in mortgage lending for the month of July, with mortgage lending levels said to have risen by 5%. Mortgage lending levels have been in decline for some months as a result of the global credit crunch which has seen a reduction in mortgage products [...]

Most people are aware that conditions in the housing market have become increasingly difficult over recent months, and with the mortgage sector still suffering the effects of the global credit crunch and with house prices falling, many homeowners have found that it is difficult or impossible to sell their homes. Estate agents have reported the [...]

A recent report showed how mortgage approval levels for new home buyers in the UK plummeted in May, further reflecting the ongoing housing and mortgage slump that has come about as a result of the global credit crunch. House prices have been falling for some months now, and mortgage availability has been getting tighter Officials [...]

According to recent figures there has been a significant fall in the number of mortgage approvals for homebuyers. Recent figures have shown that mortgage approval levels for homebuyers have fallen by around 64% over the past year. According to officials from the Bank of England approval levels for homebuyers have dropped to levels last seen [...]

Since the onset of the global credit crunch borrowing costs for those looking for a mortgage have increased dramatically in terms of interest rates, arrangement fees, and deposit levels. Those looking to take out a mortgage spend time shopping around for the most competitive rate, and there are some competitive deals still available. However, industry [...]

The Internet bank first direct, which is part of the High Street banks, HSBC, has recently launched a new mortgage product that may prove of interest to some people that are looking to remortgage. The new offset loan has been described as a market leading fee free loan. This is a base rate tracker offset [...]

Those looking to take out a mortgage in the UK are currently facing difficulties because of the freeze on approving mortgage that many of the lenders have in place. According to the Crosby Report, this freeze is expected to last for another two years. Sir James Crosby, the former chairman of HBOS, has informed government [...]

The Spanish owned high street lender, Abbey, as recently reported that it has increased its share of the UK mortgage market dramatically over recent months, and this has resulted in the lender becoming the number one mortgage lender in the nation, overtaking the Halifax. Since the onset of the global credit crunch many UK lenders [...]

According to a recent report released by the British Banker’s Association, mortgage approval levels for May slumped this year, falling to the lowest level on record. The figures show that the number of mortgage approved in May fell to under 28,000, and this was a drop of 20% compared to April. The May figure was [...]

At a time when the financial climate is already extremely difficult, and many consumers are struggling financially, lenders have hikes up the arrangement fees on their mortgage by an astonishing level in some cases, leaving those that are looking to take out a mortgage or remortgage really struggling to cope with affordability. Recent reports show [...]

According to recent figures consumers in the UK are still paying a fortune to take out a mortgage, even though the swap rates, which are indicative of interest rates on mortgages, have come down slightly. A number of lenders have cut the interest rates on some of their mortgage products over the past couple of [...]

UK banks have been warned by the Chancellor of the Exchequer, Alistair Darling, to stop ripping off consumers with regards to the arrangement fees on mortgage loans, after it was revealed that many lenders have hiked up the fees charges on mortgage loans, leaving many consumers to try and find thousands of pounds in order [...]

Ten years ago before the housing boom in the UK began someone with £40,000 handy could look at purchasing a property outright. However, these days many will be lucky if this covers much more than the deposit on a property. A recent report has shown that the average first time buyers in London needs a [...]

Finding a suitable and affordable mortgage can be difficult at the best of times, but in the current financial climate many people are finding it more difficult than ever to get a mortgage that suits that needs and is affordable. For many people trying to go it alone when it comes to finding a mortgage [...]

Blaming the drop on ‘unprecedented market conditions’ officials from the Nationwide Building Society recently reported that the lender suffered a fall of 40% in mortgage lending levels last year. Many lenders, including the Nationwide, were forced to rein in their lending levels last year after the global credit crunch set in, and these tighter credit [...]

Officials from the Association of Mortgage Intermediaries have recently suggested that it has now become especially important for consumers to seek advice on mortgages from professional intermediaries such as independent financial advisers, stating that the difficulties facing consumers due to a tightening of the mortgage market could otherwise make things extremely stressful, and could end [...]

For many people Asda is a place to go in order to do the weekly shop, purchase a few odds and ends, or look for bargains on some household goods and gadgets. However, like other supermarket giants over recent years, Asda has added a number of financial products to its range, such as loans, credit [...]

According to industry officials the recently launched government mortgage rescue plan could take some time to take effect, and in the meantime the mortgage sector will continue to remain inaccessible and expensive for many consumers. The £50 billion plan was launched by the government recently in a bid to increase confidence amongst lenders in order [...]

Over recent months many homeowners have struggled with their mortgage repayments, and whilst some people are struggling with repayments every month, indicating that they need to find a long term solution such as cutting back on other costs or finding a more affordable mortgage deal, others find that they are finding it impossible to meet [...]

There have been some very worrying reports over recent months about the level of repossessions expected in the UK. According to recent reports the number of people facing repossession has risen by 20% in the past year, and the Council of Mortgage Lenders recently announced that the number of people that lose their homes through [...]

A recent report has shown that many estate agents could be at risk of going bust as a result of problems in the housing and mortgage markets, which are resulting in fewer homes being sold through estate agents. The housing slump has resulted in fewer people taking the plunge when it comes to buying property, [...]

The mortgage industry has faced some of its toughest times ever over recent months, with the global credit crunch having a profound adverse effect on the mortgage and finance industries in the UK since it swept across the nation last summer. Nine months on and the mortgage lending industry is still suffering hugely, with lenders [...]

Whilst the global cr4edit crunch has hit all sectors of the mortgage industry extremely hard over recent months the news has been dominated by stories about how lenders and consumers have really suffered as a result of the effects of the credit squeeze. Lenders have found it increasingly hard to get finance for their mortgage [...]

A recent report has shown that the number of people in the UK who are at risk of losing their homes through repossession has rocketed by nearly 20% in the past year. Homeowners have been hit with a variety of rising costs over recent months, which have seriously affected the ability of many homeowners to [...]

According to a recent report the global credit crunch that has swept across the financial markets in the UK has resulted in a slump in lending levels in the mortgage markets, with a 17% year on year drop indicated in mortgage lending levels. In March the amount lent out in mortgage loans came to around [...]

Over recent months there has been a great deal of speculation over house prices in the UK, with the general consensus being that house prices are set to fall by as much as 20% over the next year or two. With house prices having soared by 200% over the past decade, this may seem like [...]

According to recent report first time buyers looking to get a footing on the property ladder in the UK are continuing to suffer, even through house prices have been falling, and are now lower than they were this time last year. Whilst many first time buyers may have hoped that falling property prices would at [...]

In April of this year the Bank of England cut the base rate for the third time since December of last year, cutting it by a further 0.25% and taking it from 5.25% to 5%. Following the rate cut the majority of analysts and economists predicted that there would not be a further interest rate [...]

An industry official has expressed concern that the Bank of England is effectively losing control of retail interest rates, stating that the recent base rate cuts by the central bank have often gone ignored by lenders, who have continued to raise their interest rates despite the base rate cut. Since December there have been three [...]

Recent figures show that mortgage approval levels have been plummeting over recent months, with the number of mortgage approval levels falling to 64,000 in March. This was a 44% drop from the same period a year earlier, and was the lowest level since records began in 1999. The falling figures have stemmed from the global [...]

The UK’s financial markets are in something of a mess as a result of the global credit crunch, which made its way across the nation last summer. All areas of finance have been affected, such as loans, credit cards, and mortgages. Consumer confidence has taken a dive, the economy has been adversely affected, and lending [...]

The burden of keeping up with monthly mortgage repayments has really taken its toll on many households over recent months, and amongst the suggestions put forward by senior government officials such as Alistair Darling is the possibility of mortgage payments breaks to help those struggling to keep on top of their repayments. However, some industry [...]