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…)
Posts Tagged ‘mortgages’
Banks ‘choking’ the housing market
Wednesday, August 19th, 2009
Bank announced increase in mortgage applications and approvals
Monday, August 17th, 2009One 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…)
Nearly all endowment policies will fail to pay
Friday, August 14th, 2009It 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…)
Lenders warn over increased expense on mortgages
Thursday, August 13th, 2009A 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…)
Are you relying on your property for your retirement?
Wednesday, August 12th, 2009Industry officials are forever warning us of the importance of thinking about the future in terms of our retirement and ensuring that we have something in place that will enable us to live comfortably once we have retired. (more…)
RICS predicts increase in property prices
Monday, August 10th, 2009Officials 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…)
10 percent of home sales being stopped because of mortgage problems
Sunday, August 9th, 2009According to a recent report around 10 percent of property sales in the UK are being stopped as a result of problems with mortgages. (more…)
BBA reports increase in mortgage lending levels
Friday, August 7th, 2009The 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…)
Lock in Your Mortgage at a Fixed Rate Now
Wednesday, August 5th, 2009Mortgage brokers are advising homeowners with mortgages to lock in their loans at the low fixed rates as soon as possible because interest rates will soon start to rise in a significant way. (more…)
Brits may have to rely on foreign banks for finance
Tuesday, August 4th, 2009With 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…)
Thousands of mortgages each month being turned down
Tuesday, August 4th, 2009Whilst there has been a lot of talk about ‘green shoots’ in relation to improvement in the economy, financial markets, and property sector over recent weeks, a report that was recently released by the Bank of England indicates that thousands of mortgage applications a month are still being turned down by UK lenders. (more…)
Stringency over home loans relaxed claims report
Tuesday, August 4th, 2009A 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…)
Negative equity mortgages being offered to some customers by Nationwide
Monday, August 3rd, 2009In 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…)
Mortgage and loan rate continue to rise
Saturday, August 1st, 2009It has been claimed recently that despite the fact that the base interest rate is at an all time low of 0.5 percent the rates being charged on many mortgage loans and general loans are continuing to increase, meaning that consumers are unable to benefit from the cut in base rate in many cases. (more…)
Almost 25 percent of homeowners cannot get a new mortgage loan
Monday, July 27th, 2009Earlier 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…)
New home loans at highest level in over a year
Thursday, July 23rd, 2009It 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…)
First time buyers could enjoy lower deposits this summer
Wednesday, July 22nd, 2009It 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…)
125% Mortgage – Nationwide’s Boost To Those In Negative Equity
Monday, July 20th, 2009125% mortgage. Just when most of us thought that we would never see figures even approaching 100% with regards to mortgages ever again, Nationwide appear to be thinking outside the box with this, distinctly against market trend, deal it’s offering to those trapped in the misery of negative equity. (more…)
Base rate will remain low into next year
Monday, July 20th, 2009Over 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…)
Recession to affect buy to let investors
Saturday, July 11th, 2009A 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…)
Mortgages for first time buyers dwindling
Friday, July 10th, 2009mThe 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…)
MPs could cross examine lenders over repossessions and home loans
Friday, July 10th, 2009It 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…)
Struggling Wiltshire homeowners now have help at hand
Wednesday, July 8th, 2009According 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…)
No income check with 80 percent of HBOS loans
Wednesday, July 8th, 2009It has been alleged in a recent report that around 80 percent of loans that were approved by the Halifax Royal Bank of Scotland before the financial crisis hit were actually given approval without any income checks being carried out. (more…)
Can recovery in housing market be sustained?
Monday, July 6th, 2009Many 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…)
Regulation brought in for sale and rent back
Sunday, July 5th, 2009Sale 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…)
More lower deposit mortgage needed to bolster mortgage market
Saturday, July 4th, 2009An 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…)
Fixed rate mortgages will continue to increase
Friday, July 3rd, 2009An 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…)
Mortgage lending fell back in May
Thursday, July 2nd, 2009According 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…)
Rate Matcher returns from HSBC
Tuesday, June 30th, 2009Earlier this month the High Street banking giant HSBC brought back one of its popular mortgage products, the Rate Matcher mortgage, which promised to match or beat a homeowner’s current rate and fix it for two, three, or five years. (more…)