It has been reported that as many as 65 percent of would be first time buyers that may have been hoping to get onto the property ladder before house prices start increasing again may have little or no luck, as they do not think that they will be able to afford to do so. (more…)
Posts Tagged ‘mortgages’
65 percent of would be first time buyers face gloomy outlook
Tuesday, June 30th, 2009
Mortgage customers being exploited by banks claims report
Tuesday, June 30th, 2009A recent report has claimed that many of the UK’s banks are exploiting their mortgage customers, with the banks’ profit margins soaring to the highest levels seen since the onset of the global credit crunch. (more…)
Many will be able to clear mortgages before repayment term ends
Monday, June 29th, 2009It has been claimed recently that many homeowners with mortgages in the UK will be able to benefit from paying their mortgage loans off far earlier than the scheduled repayment date thanks to the historically low base rate, which has stood at o.5 percent for some months. (more…)
Hope for council tenants in Dundee that want to buy their homes
Sunday, June 28th, 2009Over recent years a variety of mortgage lenders have launched special deals for people living in council houses who are interested in buying their homes and getting onto the property ladder. (more…)
Consumers looking for mortgages over longer terms
Friday, June 26th, 2009According to official from a mortgage broker group more and more people in the UK are now looking to take mortgage loans out over longer terms. The officials claim that over half of the people that came to get help in finding a mortgage product were looking for terms of at least three years. (more…)
Borrowing levels affected over uncertainty about finances
Wednesday, June 24th, 2009According to a recent report the borrowing levels of consumers in the UK are being affected by uncertainty over their finances. Officials from the British Bankers Association have said that households’ uncertainty over their finances is leading to lower levels of borrowing, with net mortgage lending amongst UK lenders at its lowest level in eight years in April, standing at £2.7 billion. (more…)
Regulator continues to crack down on mortgage fraud
Tuesday, June 23rd, 2009Since the onset of the global credit crunch in 2007 mortgage related fraud has become increasingly prevalent in the UK, as well as in other countries such as the United States. (more…)
Only one family saved by mortgage rescue scheme
Monday, June 22nd, 2009A recently released report claimed that whilst the mortgage rescue scheme launched by the government had been aimed at stopping many families from losing their homes, only one family had actually benefited from it. (more…)
Mortgages for home buyers increased in March
Friday, June 19th, 2009Recently released figures relating to the mortgage market and housing activity have shown that during the month of March mortgage approvals for people that were buying properties increase by around one third. (more…)
Fall back in mortgage lending for April
Thursday, June 18th, 2009A recent report released by the Council of Mortgage Lenders has claimed that the level of mortgage lending for the month of April fell back again, following a surprise increase in mortgage lending for the month of March. (more…)
Increase in mortgage approvals for April
Tuesday, June 16th, 2009Despite the doom and gloom that has been surrounding the mortgage markets over the past year or do, recent figures have shown that there was an increase in mortgage approvals for the months of April, brightening the dark mood that has been surrounding the mortgage industry over recent months. (more…)
Nationalised bank makes obscene profits from customers
Wednesday, June 10th, 2009Earlier this month the nationalised bank, Northern Rock, was accused of making ‘obscene’ profits from its mortgage customers. (more…)
Home sales restricted by negative equity
Thursday, June 4th, 2009Lenders have recently stated that the number of property transactions and home moves is set to be seriously hampered by the fact that so many people are now in or facing negative equity as a result of plunging property valued. (more…)
Mortgages a struggle for those with damaged credit
Thursday, June 4th, 2009Whilst people that have had bad credit ratings in the past have found that there is far less choice when it comes to getting finance such as mortgages, there is little doubt that since the onset of the global credit crunch things have got far worse for this group. (more…)
Huge increase in mortgage rejections
Friday, May 29th, 2009The number of mortgages that are being rejected has increased by around four times, according to a national newspaper report. It is said that despite the fact that these mortgage applications fit with the lenders’ criteria on paper, an increasing number of lenders are still finding reasons to turn them down. (more…)
Buyer interest increases and house price falls slow
Wednesday, May 27th, 2009Recently released figures for the month of April have shown that whilst interest from buyers in the housing market increase the pace of house price falls slowed down. (more…)
Is it a Good Idea to Lock in Your Mortgage at the Lower Rates Now Available?
Tuesday, May 26th, 2009The 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. (more…)
Slight fall in house prices for April
Wednesday, May 20th, 2009Figures that were recently released by the Nationwide Building Society have shown that despite the surprise increase in house prices in March, property prices in England and Wales are continuing to fall, with April seeing a slight dip in house prices. (more…)
Surveyors claim increased interest from buyers
Tuesday, May 19th, 2009Surveyors from the Royal Institute of Chartered Surveyors have stated that whilst property sales levels in the UK still remain low there has been rising interest from would be buyers. Officials from RICS said that rising interest from potential buyers was gaining ‘real momentum’. (more…)
CML releases official negative equity figures
Monday, May 11th, 2009A couple of weeks ago the Council of Mortgage Lender released worrying figures with regards to negative equity levels amongst homeowners in the UK, claiming that 900,000 homeowners had been plunged into negative equity as a result of falling house prices. (more…)
Are lenders being too optimistic about house price increases?
Saturday, May 2nd, 2009Since 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. (more…)
Mortgage insurance customers could face 40 percent increases
Wednesday, April 29th, 2009A recent report has highlighted how millions of working homeowners could be facing a whopping 40 percent rise in the cost of insurance cover that they took out to make their mortgage repayments in the event that they were unable to make repayments themselves for a period of time due to illness, accident, or redundancy. (more…)
Fixed rate loans mean profit for banks
Thursday, April 16th, 2009Some industry experts have recently claimed that many banks are now making profits from fixed rate mortgage loans by increasing their profit margins sharply on these popular loans. (more…)
RICS wants increased funding for mortgage sector
Saturday, April 11th, 2009Officials from the Royal Institute of Chartered Surveyors have called for an increase in funds to be injected into the mortgage sector. (more…)
Mortgage approval levels increase in February
Tuesday, April 7th, 2009Recently released figures have shown that the level of mortgage approvals for the month of February increased by more than many industry officials had been expecting. (more…)
Last year saw mortgage arrears rise by over 30 percent
Sunday, April 5th, 2009Recently released information has shown that over the course of 2008 the level of mortgage arrears in the UK increased by over 30 percent, as more and more homeowners struggled to keep on top of repayments in the increasingly difficult financial climate. (more…)
Nationwide takes over Dunfermline Building Society
Wednesday, April 1st, 2009The troubled building society, Dunfermline, is being taken over by Britain’s largest building society, Nationwide, after running up huge debts for which the taxpayer will pick up the tab. 
The merger with Nationwide is part of a package that was announced recently by the Bank of England, and over five hundred employees of Dunfermline will now be transferred over to the Nationwide.
Many branches, assets, and prime mortgage loans have been taken over by Nationwide, and building society officials have said that it will be business as usual for the customers of Dunfermline.
The Prime Minister, Gordon Brown, said that Dunfermline was ‘author of its own mistakes’ when the level of debt was revealed. He said: ‘Let’s face facts. The Dunfermline building society is the author of its own mistakes: mistaken judgments, mistaken investments, mistaken policies. We have had to step in where the Dunfermline building society has failed, and we have stepped in in such a way that we can protect both the savers and give those people who depend on the building society for mortgages a way through for the future.’
The chairman of Dunfermline said that he was pleased with the fact that the building society was being saved but was disappointed that it did not get the government support that would have allowed it to remain as an independent operation.
He said: ‘I am hearing encouraging noises – yet to be confirmed – that Nationwide will do all they can to keep as much employment as they can in Scotland. I and my board have worked tirelessly to protect the members and the staff and we have no reason to feel bad about this. We are deeply disappointed with the Government’s decision. It was unnecessary. But nevertheless we need to move on and we need to work with the new owners.’
Increased availability of home loans unlikely in the near future
Monday, March 23rd, 2009A recent report has indicated that it is unlikely that there will be any significant increase in the availability of home loans in the near future. (more…)
Phantom mortgage cause problems for homebuyers
Sunday, March 22nd, 2009According to a recent report a number of lenders are offering mortgages that do not actually exist, which is causing problems for many buyers who think that they have found the perfect mortgage deal only to find that there is no mortgage deal to be had. (more…)
Lenders shut doors on homebuyers
Tuesday, March 17th, 2009A recent report has indicated that many lenders have now shut their doors on a large number of homebuyers, with many banks and building societies leaving homebuyers out in the cold. (more…)