July 3, 2008
Lenders have told the bank of England that the shortage of mortgage products is expected to decline further in the next 3 months.
Lenders have also warned that the number of people defaulting on mortgage payments will rise during the same period. ...
Lenders warn mortgage squeeze will continue
Permalink: Lenders warn mortgage squeeze will continue
by Kay Murchie
July 2, 2008
According to figures from the Bank of England, the amount of money homeowners are borrowing on their houses has plummeted by 64% in the first three months of 2008.
Housing equity withdrawal, which is when homeowners take out larger mortgages to spend on ...
Equity withdrawals plummet by 64%
Permalink: Equity withdrawals plummet by 64%
by Kay Murchie
6.99% buy-to-let mortgage from Kensington
Permalink: 6.99% buy-to-let mortgage from Kensington
by Lin Freestone
July 1, 2008
ARLA, the Association of Residential Letting Agents, has issued its quarterly survey of 444 letting agents and 289 residential landlords.
The survey reveals that, despite the fall in house prices, buy to let landlords are increasingly resolved to maintain their portfolios of ...
Buy-to-let investors confirmed as prudent
Permalink: Buy-to-let investors confirmed as prudent
by Lin Freestone
June 30, 2008
Figures released by the Bank of England today revealed that 42,000 home loans were approved in May, which is a 27% decline compared with April and represents a 64% fall compared with 12 months ago.
The Bank said the figures were ...
BoE: mortgage approvals fall to record low
Permalink: BoE: mortgage approvals fall to record low
by Kay Murchie
BSA’s new service could impact authority of CML
Permalink: BSA’s new service could impact authority of CML
by Lin Freestone
June 26, 2008
Three mortgage lenders have raised the cost of their fixed-rate mortgages as banks find it increasingly difficult to finance loans.
Bradford & Bingley has increased the cost of its fixed-rate residential mortgage by between 0.5% and 0.7%. This is the second increase ...
Lenders increase cost of fixed-rate mortgages
Permalink: Lenders increase cost of fixed-rate mortgages
by Lin Freestone
June 24, 2008
Research from financial information service, Moneyfacts, has revealed that the average cost of a two-year fixed-rate mortgage deal has risen above the 7% mark and are at their most expensive since February 1997.
In addition, those looking for a five-year fixed-rate mortgage will find ...
Fixed-rate deals hit 7%
Permalink: Fixed-rate deals hit 7%
by Kay Murchie
June 20, 2008
The mortgage misery continues as Bristol & West, the British mortgage arm of the Bank of Ireland, has announced it has withdrawn over 25% of its mortgage range.
Earlier this week, Bristol & West launched a number of new ...
More mortgage misery as Bristol & West withdraws deals
Permalink: More mortgage misery as Bristol & West withdraws deals
by Kay Murchie
June 19, 2008
A report from the homeless charity, Shelter, has revealed that in the last year, over 4 million families have paid their mortgage or rent on their credit card.
The report, called Breaking Point, reveals the extraordinary lengths some are ...
4 million families using plastic to pay mortgage/rent
Permalink: 4 million families using plastic to pay mortgage/rent
by Kay Murchie
Gross mortgage lending falls by 19% in May
Permalink: Gross mortgage lending falls by 19% in May
by Kay Murchie
June 18, 2008
According to the latest construction output forecasts published by the Construction Products Association, there has been a 27% fall in new housing starts in the UK this year. The figure of 147,000 new housing starts is the ...
Housing starts in the UK are the lowest since 1945
Permalink: Housing starts in the UK are the lowest since 1945
by Lin Freestone
Continuing demand for Certificate in Mortgage Advice & Practice
Permalink: Continuing demand for Certificate in Mortgage Advice & Practice
by Lin Freestone
June 17, 2008
The withdrawal of 95% and 100% mortgages has meant that first-time buyers need an even bigger deposit to get onto the property ladder, in spite of falling property prices.
Some lenders are still willing ...
First-time buyers require large deposits
Permalink: First-time buyers require large deposits
by Kay Murchie
June 13, 2008
The latest figures from the Council of Mortgage Lenders indicate that first-time buyers are being squeezed out of the housing market.
In April 2008, 18,500 loans were arranged with first-time buyers. Although this is a 4% increase over the number of ...
18,500 FTB loans arranged in April
Permalink: 18,500 FTB loans arranged in April
by Lin Freestone
June 12, 2008
From September onwards, new regulations to be brought in by the Council of Mortgage Lenders (CML) will require housebuilders to declare the incentives of their buyers. It is perceived that this measure will enable lenders to offer mortgages that reflect ...
CML requires housebuilders to declare buyers’ incentives
Permalink: CML requires housebuilders to declare buyers’ incentives
by Lin Freestone
June 10, 2008
A survey conducted by finance website Fairinvestment.co.uk has revealed that 37% of people questioned would take out a 25-year fixed rate mortgage if they could.
The certainty of no increases in mortgage payments for the duration of the ...
37% of borrowers would like a 25-year fixed rate mortgage
Permalink: 37% of borrowers would like a 25-year fixed rate mortgage
by Lin Freestone
June 9, 2008
The U.K. has seen the largest annual reduction in housing prices in over a decade, with prices falling 3.8% since this time last year, and 2.4% since last month.
The Halifax stressed that this should be viewed ...
U.K Housing Prices See Largest Annual Decline In A Decade
Permalink: U.K Housing Prices See Largest Annual Decline In A Decade
by Elisha Sanders
Landlords in buy-to-let market losing confidence
Permalink: Landlords in buy-to-let market losing confidence
by Lin Freestone
June 5, 2008
The recently released figures from the Council of Mortgage Lenders reveal that the credit crunch is having less of an impact on the Scottish housing market.
Scotland's share of all mortgage loans in the UK rose to 11% ...
Scottish housing market more buoyant than rest of UK
Permalink: Scottish housing market more buoyant than rest of UK
by Lin Freestone