A 15% deposit may become the minimum for property purchasers
March 30, 2009
As a result of sweeping reforms being considered by the UK’s financial regulator, the Financial Services Authority, consumers that are looking to purchase a property in the UK may be forced to put down a minimum deposit of at least 15 percent when taking out a mortgage. Read more
Surveyors hope for increase in property sales
March 24, 2009
A survey from the Royal Institute of Chartered Surveyors has recently suggested that over the coming months there could be an increase in the level of property sales in the UK. Read more
Another fall for house prices in February
March 24, 2009
Britain’s largest building society, the Nationwide, has recently reported that house prices in the UK took yet another battering in February, with property prices reported to have fallen by around 1.8 percent. Read more
Supermarkets may axe plans to sell mortgages
March 21, 2009
As most people are aware the supermarket giants of today sell a lot more than just groceries and household goods, with many selling a range of financial products such as insurance, loans, and credit cards, and some even offering banking facilities. Read more
Central bank cuts rates and considers quantative easing
March 20, 2009
Following the March Monetary Policy Committee meeting the Bank of England has cut the UK base interest rate once again, slashing it by a further 0.5 percent and taking it to a fresh all time low of just 0.5%. This is the sixth month in a row that the base rate has fallen, and following a series of aggressive rate cuts the base rate has dropped from 5 percent in October to just 0.5 percent in March. Read more
Mortgage approvals up for second month in a row
March 18, 2009
According to industry reports mortgage approvals in the UK have increased for the second month in a row in January, with a slight increase compared to mortgage lending levels for December. Read more
Will interest rates drop to 0%?
March 18, 2009
Since October of last year the UK has seen the base interest rate plummet, and it has fallen from 5 percent in October to just 1 percent following the February Monetary Policy Committee meeting, following a series of base rate cuts over a number of months. Read more
Getting a mortgage has become more difficult
March 17, 2009
A recent report has suggested that getting a mortgage is becoming increasingly difficult, even though many had hoped that things would become easier following a very tough 2008 with regards to the mortgage market. Read more
Many lenders failing to pass on the base rate cut
March 16, 2009
According to a recent report there are many lenders that are refusing to pass on the base interest rate cut to those that are approaching them with a view to remortgaging. Read more
Five year low for buy to let mortgage loans
March 13, 2009
Recently released data has shown that mortgages for buy to let properties have now fallen to a five year low, as the market continues to restrict and mortgage lenders continue to try and reduce their risks when it comes to mortgage lending. Read more
Slight rise in mortgage approvals in December
March 13, 2009
Recently released figures from the Bank of England have indicated that there was a slight increase in mortgage lending for the month of December. Read more
PM accused of raising hopes over mortgages
March 12, 2009
In a recent attack the Conservative Party has accused the Prime Minister, Gordon Brown, of raising the hopes of consumers with regards to mortgage assistance. Read more
Criticism over mortgage arrears charges
March 11, 2009
Industry officials from the debt advisory sector have recently expressed their concern over charges that are imposed by lenders when homeowners fall into arrears with their mortgage loans. Reports show that when homeowners fall into arrears with their mortgages many are charged between £20 and £50. Read more
Equity release sector slumped last year
March 9, 2009
According to recent reports the Northern Rock crash from last year resulted in the equity release sector in the UK taking a huge knock last year, with the take up of equity release slumping. Read more
95% mortgages now only on offer from a couple of lenders
March 6, 2009
According to a recent report the once traditional 95 percent mortgage is now only available from a couple of lenders on the market, with other lenders demanding far higher deposits from borrowers. Read more
Will the drop in interest rates help the economy?
March 4, 2009
There have been unprecedented cuts in the UK base rate over the past five months, with the Bank of England slashing rates each month, resulting in the rate falling from 5 percent in October to just 1 percent following the February Monetary Policy Committee meeting. Read more
UK base rate hits another record low
March 2, 2009
Following the January Monetary Policy Committee meeting the base interest rate in the UK was cut to its lowest level in the history of the Bank of England, falling to just 1.5 percent.
However, following the latest MPC meeting in February the base rate has been cut yet again, dropping to just 1 percent, and sending it plunging to a fresh record low. It is now at its lowest in the history of the central bank, which spans over three hundred years. Read more
Use Any Extra Funds to Pay Down Your Mortgage
March 2, 2009
In the current credit crunch many homeowners in the UK are striving to build up their savings accounts so that they have money to fall back on just in case they may encounter financial difficulties in the future. Read more