92% increase in home repossessions in one year
During the third quarter of last year the number of people that were losing their homes nearly doubled, according to recent reports. <!--more--> The figures show that in the three months up to...
View Article15.9 percent fall in house prices last year
According to recently released figures 2008 saw house prices in the UK fall by 15.9 percent. The figures come from a survey from the Nationwide Building Society.<!--more--> According to the...
View ArticleHSBC top mortgage lender for 2008
HSBC has enjoyed being named the top mortgage lender of 2008 recently, taking the title from the 2008 winner, which was the Furness Building Society. <!--more--> The honour was given by an...
View ArticlePayday loan rates are sky high
The shadow housing minister, Grant Schapps, has recently expressed concern over the interest rates that are being charged on some payday loans, describing the rates as 'obscene'. <!--more--> The...
View ArticleIrish bank will cut back on lending in UK
According to recent reports a major Irish bank plans to cut back on its mortgage lending operations in the UK, further impacting on the already struggling mortgage market and increasing the...
View ArticleFurther falls in house prices in November
The Land Registry has recently released figures that show that house prices fell by a nearly 2 percent in November, taking another tumble of around 1.9 percent. Officials said that as market activity...
View ArticleEstate agents in London face worrying year
According to recently released reports many of the estate agents in the London area have been selling an average of less than one property per month, as the housing downturn continues its downward...
View ArticleBanks finding excuses to refuse mortgages
According to recent reports many banks are now using a range of excuses to turn down mortgage applications, as more and more banks shy away from lending money as a result of the ongoing financial...
View ArticleHouse price forecasts put on hold by lenders
Two major UK lenders have decided that they are going to postpone making any house price forecasts for next year in the current climate, even though they have been forecasting house price movement for...
View ArticleLenders continue to offer fewer mortgage products
According to a recent report the number of <strong>mortgage</strong> products being offered by lenders across the UK is continuing to fall, with lenders favouring those with higher deposits...
View ArticleCash strapped consumers paying higher rates on loans
According to recent reports many cash strapped consumers are paying higher than average rates of interest on personal loans, and amongst those being stung by these higher rates are pensioners and those...
View ArticleAnother fall for mortgage lending
A recently released report has shown that mortgage lending in the UK has shrunk yet again, with figures indicating that the level of mortgage approvals is now around 60 percent lower than it was for...
View ArticleIt's not just the UK reeling from house prices
Over the past year the UK has seen its property prices plummet month on month, with prices now having fallen by far more than many had originally predicted and with further house price falls expected...
View ArticleBrown and Purnell described as being loan sharks
The Prime Minister, Gordon Brown, and the Work and Pensions Secretary, James Purnell, have been accused of acting like a couple of loan sharks after proposing the introduction of crippling interest...
View ArticleIs there any point forecasting house prices for next year?
Each year a number of major lenders in the UK, along with the Council of Mortgage Lenders, tend to prepare a forecast for house prices in the UK over the coming year. However, this year has been very...
View ArticleHomeowners will not necessarily benefit from rate cuts
Recent reports have indicated that despite the base rate cuts that have been applied by the Bank of England over the past few weeks some homeowners may not actually benefit from these reductions, as...
View ArticleNCC cuts ties with doorstep lending site
The National Consumer Council, which was recently renamed Consumer Focus following a merger, has reported that it is not part of a relatively new website that was set up to help consumers find the...
View ArticleAre those with bad credit being targeted by high interest lenders?
Over the past decade having damaged credit did create problems for those that were looking to take out finance. However, in the days of easy credit even those with damaged credit were able to get...
View ArticleRates on personal loans have soared
Most people are well aware that the financial sector has been deeply affected over the past year as a result of the global credit crunch, which has affected all sectors of the financial industry and...
View ArticleDrop in mortgage approvals as consumers spend deposits elsewhere
Reports have shown that October saw a further decrease in mortgage approval levels, falling by nearly two thousand compared to September and plunging by a massive 52 percent compared to October of last...
View ArticleParents providing help to many first time buyers
For many years first time buyers have struggled to get onto the property ladder for one reason or another. For a number of years the problem has been the soaring price of property in the UK, but more...
View ArticleCan an interest only mortgage ease your finances?
A recent article has suggested that struggling homeowners who are finding it difficult to make ends meet each month could benefit from opting for an interest only mortgage in order to reduce monthly...
View ArticleAre you facing repossession?
If you are in danger of facing repossession at the moment then you are not alone, as there has been a sharp increase in the level of repossessions of late, with more and more homeowners losing their...
View ArticleWhat will our Christmas spending be like this year?
Many consumers in the UK have had a very difficult financial year over the past twelve months for a number of reasons. Whilst interest rates have now dropped to 3% after some drastic cuts by the Bank...
View ArticleIs now the time to take out PPI?
The subject of PPI, or <strong>Payment Protection Insurance</strong>, has been a controversial one for the past couple of years, with a huge amount of controversy relating to the...
View ArticleBase rate cuts need time to take effect
A policymaker from the Bank of England has said that the recent rate cuts are going to take some time to take effect and feed through to the economy. Andrew Sentance reckons that negative performance...
View ArticleHow will buy to let landlords fare after B&B collapse?
The recent collapse and part nationalisation of Bradford and Bingley came as a shock to some, and none more so than the many buy to let landlords that have been affected by what has happened to the...
View ArticleSlight increase in mortgage approval levels for September
According to recently released figures there was a slight increase in the level of mortgage approvals in the UK during the month of September compared to the previous month. There were 21,342 mortgages...
View ArticleIs the current house price crash worse than that of the 1990s?
As most people are only too aware the value of property has been falling month on month for the past year, and property prices have plummeted since they hit their peak last October. Many homeowners...
View ArticleRepossession levels soar
Recently released figures have shown that repossession levels have soared recently, and that in the months to come the number of repossessions compared to last year could rise even further. Figures...
View ArticleSellers being forced to slash prices
According to a recent report homeowners that are looking to sell their properties are being forced to slash their asking prices in order to secure any hope of selling their property in the current...
View ArticleHouse price falls worse than in 1990s
A recent report has suggested that the house price falls that are currently being experienced in the UK are actually worse than those seen in the 1990s. In fact, the data suggests that in the past...
View ArticleBrits being hit with rocketing loan interest rates
Since the onset of the global credit crunch consumers in the UK have been affected in many ways, with the cost of borrowing rocketing and with availability of finance in all sectors becoming more...
View ArticleNationwide passes on some of interest rate cut
According to recent report the Nationwide Building Society is planning to pass on part of the latest base rate cut, although it will not be passing on the full rate cut to borrowers. Officials state...
View ArticleCompetition Commission concerned over competition with PPI
The financial news has been filled with stories about problems relating to payment protection insurance or PPI, with evidence that this insurance has been mis-sold to consumers for a number of years,...
View ArticleLondon homes up for sale for three months or longer
Industry officials have claimed in a recent report that many of the properties going up for sale in London are up for sale for three months or longer. The slump in the housing market has resulted in...
View ArticleEstate agent sales levels result in fee free sales
As many news reports have shown the number of properties being sold in the UK has plunged over recent months, and homeowners that are looking to sell up are suffering real problems. Many people cannot...
View ArticleBad news on home loan numbers from CML
In a recent report released earlier this month officials from the Council of Mortgage Lenders claimed that the number of value of homes loans had fallen to the lowest level of record, with the number...
View Article£30,000 fine for mortgage broker
A mortgage broker from the UK has been fined a massive £30,000 by authorities after being accused of giving advice that put consumers at risk during the ongoing global credit crunch and financial...
View ArticleMortgage deals axed following B&B collapse
According to a recent report a huge number of mortgage products from lenders were axed following the high profile collapse of Bradford & Bingley, which was recently part nationalised. Shortly...
View ArticleBanks cut mortgage rates after surprise announcement
Earlier this week the Prime Minister, Gordon Brown, and the Chancellor of the Exchequer, Alistair Darling, announced that the UK base rate was being cut by 0.5% from 5% to 4.5% in a surprise move one...
View Article5% deposit mortgages difficult to find
A recent report has indicated that the traditional 95% mortgage, with just a 5% deposit from the borrower, is becoming increasingly difficult to find. Until the onset of the credit crunch borrowers...
View ArticleHelp needed for homebuyers states OFT
Officials from the Office of Fair Trading have stated that more help is needed for homebuyers in the UK from house builders. Following an investigation by the OFT, house builders are to set up a new...
View ArticleThe gap widens between buyers and sellers
Over the years an understanding has developed between sellers and buyers when it comes to the property market. Buyers are well aware that sellers will pull out all the stops to try and get the asking...
View ArticleFOS still cracking down on loan insurance
Although the subject of loan insurance, otherwise known as Payment Protection Insurance or PPI, has been at the centre of heated controversy for some time, this product still continues to attract...
View ArticleAuction cut prices on property
Potential property purchasers that want to take their chances on properties that go up for sale at auction could benefit according to a recent report, which suggests that auctions are cutting the...
View ArticleConsumers warned over high fees on mortgages
With interest rates still high and consumer affordability stretched many people looking to remortgage or take out a new home loan are looking out for competitive headline rates to try and get the best...
View ArticleSell your home online and save some money
Industry experts have pointed out that some homeowners who want to sell their properties and want to try and recoup some of the money lost through falling property prices could actually benefit...
View ArticleGovernment takes on the loans of another bank
Early this year the government announced that it was taking over the stricken bank Northern Rock, and passed legislation to allow the rapid nationalisation of the bank. The government has now used this...
View ArticleFOS and FSA still cracking down on loan insurance
Although the subject of loan insurance, otherwise known as Payment Protection Insurance or PPI, has been at the centre of heated controversy for some time, this product still continues to attract...
View Article
