Mortgage expert warns on fixed rate mortgage increases
July 2, 2009
As the turbulence in the mortgage and financial markets continues, and the ongoing recession continues to take its toll, one mortgage expert has recently warned that the rates on fixed mortgages will increase in the near future, and already his predictions have started to come true with a number of mortgage... more
Eight year low for mortgages in April
June 29, 2009
A recent report released by the British Banker’s Association has shown that the level of net mortgage lending for the month of April from UK lenders slipped to its lowest level in eight years. However, whilst the amount that was lent by way of mortgages fell to £2.7 billion the number of mortgages... more
Mortgage lenders try and boost markets by cutting costs
June 25, 2009
According to a recent report a number of mortgage lenders have recently been trying to boost the mortgage markets by cutting costs for those looking to purchase a property. Over the past couple of years consumers have experienced real problems with affordability as a result of the global credit crunch,... more
Lenders told to stop selling single premium PPI right away
June 23, 2009
It was recently reported that regulators had brought in a ban on the sale of single premium Payment Protection Insurance from lenders, with the ban officially coming into force in October of next year. However, although the ban is not set to start officially until October 2010 lenders are being told... more
No change in interest rates for June
June 20, 2009
Following the Monetary Policy Committee meeting, which was held earlier this week, the Bank of England has announced that the UK base rate is to be kept on hold for yet another month. This is the third month that the base rate will have been kept steady, at 0.5 percent, which is still the lowest that... more
Broker and lender optimistic about housing market
June 18, 2009
A major High Street lender and a well known mortgage broker have both made optimistic predictions about the housing market recently, predicting that by the end of this year house prices could start to increase again. The bank and broker think that the end of this year will see the end of the housing... more
Deposit level drop from Abbey
June 15, 2009
Earlier this month the High Street banking giant which has recently enjoyed taking a larger share of the mortgage market, Abbey, announced that it was cutting its deposit levels for access to its most competitive deals. This is one of a number of lenders that have made this move after some lenders were... more
Industry should learn from reckless lending
June 13, 2009
A report that was released earlier this month has blamed the ongoing financial crises on reckless lending, and has claimed that lenders should learn by further restricting their lending regulations to ensure that this sort of problem does not arise again in the future. The report by the Institute for... more
Extra Costs Causing Hardship for Tenants
June 12, 2009
Tenants renting flats and houses in England have recently been faced with a rash of charges that is cutting into the money they have allotted for their expenses. One charity in England has labelled these extra charges by the letting agents as unjust and excessive. In a recent report, Citizens Advice... more
28% fall from peak to trough for house prices
June 10, 2009
Earlier this month figures were released that showed there would be a fall of 28 percent in house prices from the time at which they peaked in October of 2007 to the time at which the property downturn comes to an end. The information was released by the Centre for Economics and Business Research (CEBR).... more
Mortgage lenders attempt to cut costs
June 3, 2009
There has been evidence that competition in the mortgage market is hotting up again, with lenders striving to increase their share in the mortgage market by trying to cut costs for potential buyers. Many lenders are now competing to try and win a greater number of first time buyers, and have realised... more
Monetary Policy Committee keeps rates on hold
June 1, 2009
The base interest rate in the UK is to stay on hold for the first time in seven months, with the Bank of England announcing that it is leaving the rate on hold at 0.5 percent following the April Monetary Policy Committee meeting earlier this week. The decision to keep rates on hold did not come as a... more
RBS under fire over mortgage fee
May 14, 2009
Bailed out High Street bank, Royal Bank of Scotland has recently been under fire after announcing that it was charging a non-refundable and hefty fee on its mortgage. The bank announced that its mortgage would be subject to a fee of £995, by way of an arrangement fee, and that the money would not be... more
Fees hiked by Land Registry
May 11, 2009
In another blow for consumers hoping that affordability will be increased when it comes to purchasing a home, the Land Registry has recently announced that it is increasing its fees by nearly one third with effect from July. The Land Registry plans to impose a 30 percent increase on its fees on properties... more
Speculation over mortgage support scheme rises
April 8, 2009
According to a recent report there is rising speculation over a proposed government mortgage support scheme, with uncertainty over which lenders are prepared to support the scheme and when the scheme will actually go ahead. The mortgage support scheme is aimed at helping homeowners that are struggling... more
More money wiped off average house price in February
April 4, 2009
Recently released figures from the Halifax have indicated that yet more money was wiped off the average house price in February. Officials claim that the average house price has fallen by yet another £3800 on average, and that house prices were brought down to 17.7 percent compared to the same period... more
First time buyers spending fortune on deposit and mortgage
April 2, 2009
Data from a recent report has suggested that first time buyers are now spending a fortune on their mortgage deposit and their first year of mortgage repayments. The report claims that first time buyers are spending around 111 percent of their total household income on their mortgage deposit and first... more
Family values need to be applied to the banking system
April 1, 2009
We all like to think that we instil good family values into our homes and loved ones, but the one thing that most of us would not associate with family values is the typical High Street bank. However, this is something that the Prime Minister, Gordon Brown, is hoping to change, as he appeals to lending... more
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. In the past, before the... 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. Officials from RICS have said that because of the lower house prices, and predictions of further falls in property prices,... more