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September 17, 2008
Tips for successful remortgaging in the credit crunch
Permalink: Tips for successful remortgaging in the credit crunch
by Lin Freestone
Property owners and buy-to-let investors have been advised to be well organised if they want to secure the best deals from banks and lenders now that lower rates have started to appear.
By leaving it too late, it could ...
September 11, 2008
Lowest house prices for 30 years according to Rics
Permalink: Lowest house prices for 30 years according to Rics
by Lin Freestone
The Royal Institution of Chartered Surveyors has reported that house sales continued to fall during August, and are at their lowest level since its monthly survey started 30 years ago in 1978.
The holiday month of August ...
September 9, 2008
House prices could fall by 25%
Permalink: House prices could fall by 25%
by Lin Freestone
Graham Beale, the chief executive of the Nationwide Building Society, has predicted that house prices could fall as much as 25% from their peak, and he does not expect to see signs of recovery in the housing market until 2010.
The ...
September 8, 2008
Nationwide to merge with two smaller building societies
Permalink: Nationwide to merge with two smaller building societies
by Lin Freestone
Nationwide, the UK's largest building society, is in advanced discussions concerning its potential merger with two smaller rivals, the Derbyshire Building Society and Cheshire Building Society.
With the approval of the FSA, the Nationwide is to step in to ...
US mortgage giants taken under government control
Permalink: US mortgage giants taken under government control
by Lin Freestone
The US government’s decision to take control of America’s two mortgage giants, Fannie Mae and Freddie Mac, will have long-reaching effects on the world’s economy. Investors anticipate that the largest bail-out in US history will prop up the country's ...
HBOS chief warns credit crunch will last into 2010
Permalink: HBOS chief warns credit crunch will last into 2010
by Lin Freestone
In an interview broadcast by the BBC on 6 September, Andy Hornby, the chief executive of HBOS, warned that he considers it could take 18 months before US house prices start to rise again. HBOS owns ...
September 4, 2008
Mortgage rates continue to fall but large deposits still required
Permalink: Mortgage rates continue to fall but large deposits still required
by Kay Murchie
Several lenders in the last few weeks have been cutting mortgage interest rates and last month, price comparison website, Moneyfacts reported that mortgage rates were back to the same level they were at the start of the ...
September 2, 2008
Property value and mortgage rate guarantees from Stewart Milne Homes
Permalink: Property value and mortgage rate guarantees from Stewart Milne Homes
by Lin Freestone
Stewart Milne Homes, a privately-owned housebuilder based in Aberdeen, has introduced two new products to enable potential homeowners to buy with confidence.
The managing director of the company, John Slater, has listened to what people have told ...
September 1, 2008
Three-year fixed rate mortgages grow in popularity
Permalink: Three-year fixed rate mortgages grow in popularity
by Kay Murchie
According to Abbey Mortgages, in the last six months demand for three-year fixed rate mortgages has tripled.
Research by Abbey claims that one fifth of homeowners would opt for a three-year fixed rate deal compared to 9% who would choose a ...
Rics calling for action to kick-start housing market
Permalink: Rics calling for action to kick-start housing market
by Kay Murchie
The Royal Institution of Chartered Surveyors (Rics) is calling on the Government to take the necessary steps to kick-start the housing market.
The plea comes as the organisation revealed today that housing sales have slowed to their worst level ...
BoE: Mortgage approvals fall to record low
Permalink: BoE: Mortgage approvals fall to record low
by Kay Murchie
The Bank of England has today revealed that the number of mortgage approvals for homebuyers has fallen to 33,000 in July, down by 71% compared with the same period last year.
According to the Bank of England, the figures are the ...
August 26, 2008
Stewart Milne Homes launches 4.99% fixed-rate mortgage deal
Permalink: Stewart Milne Homes launches 4.99% fixed-rate mortgage deal
by Kay Murchie
With the current misery surrounding the housing market, Stewart Milne Homes is offering some good news with an exclusive fixed-rate mortgage deal.
The deal, which offers homebuyers a fixed rate of 4.99% for three years on a range of Stewart ...
BBA: Mortgage approvals fall by two thirds
Permalink: BBA: Mortgage approvals fall by two thirds
by Kay Murchie
The doom and gloom in the housing market continues as figures released today from the British Bankers Association (BBA) revealed that the number of mortgages approved for house purchases increased marginally from 22,369 in June to 22,448 in July.
However, ...
August 25, 2008
Proposals for councils to offer mortgages
Permalink: Proposals for councils to offer mortgages
by Kay Murchie
Local authority chiefs in London want to offer mortgages to those struggling getting onto the property ladder.
Councils are urging the Chancellor, Alistair Darling, to relax borrowing rules so they can offer mortgages to thousands of families struggling to purchase a home.
The ...
August 22, 2008
Moneyfacts: Mortgage rates back to August 2007 levels
Permalink: Moneyfacts: Mortgage rates back to August 2007 levels
by Kay Murchie
Research by price comparison website, Moneyfacts, has discovered that mortgage rates are back to the same level they were at the start of the credit crunch.
According to Moneyfacts, the average rate on a two-year fixed deal is now 6.59% ...
August 20, 2008
CML: Slump in mortgage lending continues
Permalink: CML: Slump in mortgage lending continues
by Kay Murchie
According to the Council of Mortgage Lenders (CML), the mortgage lending slump continued last month.
The CML figures showed that gross mortgage lending rose slightly in July by 5% compared with June, however this is 27% lower compared with July 2007.
Commenting on ...
August 19, 2008
Wolsey: Housing transaction levels fall to dangerously low levels
Permalink: Wolsey: Housing transaction levels fall to dangerously low levels
by Kay Murchie
According to Wolsey Securities, the housebuilder finance specialist, housing transaction levels in the UK have fallen to dangerously low levels and are set to fall 60% below the worst period of the early 1990s.
According to Mike Ratcliffe, chief ...
UK lending to fall by 20%
Permalink: UK lending to fall by 20%
by Kay Murchie
Business intelligence company, Datamonitor, believes the UK mortgage market will shrink by a fifth by the end of the year.
Datamonitor is forecasting that mortgage lending will continue to fall, by a total of 19.3% this year and by a further 3% ...
August 18, 2008
Halifax and Abbey begin price war
Permalink: Halifax and Abbey begin price war
by Kay Murchie
Halifax and Abbey, the UK’s two largest mortgage lenders, have launched a price war in a bid to tempt new borrowers.
The two lenders are competing on two-year tracker mortgages, which are usually linked to the Bank of England base rate. However, ...
August 15, 2008
Mortgage repossession orders surge by 24%
Permalink: Mortgage repossession orders surge by 24%
by Kay Murchie
Figures from the Ministry of Justice have revealed that the number of mortgage repossession orders made by courts in England and Wales in the second quarter of 2008, rose by 24% to 28,658, compared with the same period last year.
The figures ...
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