A growing number of people are buying houses with the help of interest-only mortgages.
It has been reported by Consumer Credit Counseling Service (CCCS) that there was an increase in the number of phone calls they received from bereaved people whose major concern was their ability to repay loans after the death of a loved one.
Consumers find it increasingly more difficult to obtain loans they need because of stricter lending criteria established by traditional loan providers.
Mortgage brokers report that affluent borrowers are increasingly taking out bridging loans to purchase new homes.
Since there can be no doubt that the Bank of England’s (BoE) base rate will rise at some point in the future, PricewaterhouseCoopers (PwC) has made an attempt to find out how much UK homeowners will have to pay if average mortgage interest rates returned to the levels of 2008.
Many UK citizens feel the enormous financial pressure due to the recession.
It has been revealed by the Council of Mortgage lenders that there was a drop in repossessions
While an increasing number of small businesses in UK are suffering the consequences of the economic decline there are heated debates over the role of UK banks.
More than 10,000,000 UK citizens have plans to plunge into debt to pay for that so-longed-for summer holidays.
Paragon Group has informed that more tenants were looking for property for rent during the second quarter of 2010.
As the UK mortgage market gets prepared for radical changes that are about to come into force there are worries about the self-employed people who will probably be denied access to mortgages in the nearest future.
Although some loan providers have been forced to leave the market and the recent years haven’t seen a great number of new deals, the equity release loan market is flourishing, with an increasing number of retired UK citizens obtaining such loans.
According to the recent figures, Charity Bank and Triodos Bank, the loan providers of ethical organizations and charities, are doing fine and have good chances of a record year of lending.
Although there were about 25,000 arrears problems in the second quarter of the current year, the Citizens Advice Bureau has reasons to believe there will be more arrears due to impending public sector cuts.
According to Acadametrics House Price Index, there was a jump by 11 per cent in housing market transactions for the second month in a row.
Currently there is a dramatic increase in mortgage fraud as the economic problems of the UK are still unresolved.
UK mortgage lenders are still causing the slowdown on the housing market. The recent data demonstrates that at the moment mortgages are more difficult to obtain than before the credit crunch
It has been revealed by the Bank of England that June saw an unexpectedly significant decrease in the number of mortgage approvals, which gives grounds to believe that till the end of the current year the housing market will be subdued.
Barclays’ customers could lose huge sums of money because of the bank’s failure to meet 'high standards'.
It appears that the number of first-time buyers in England and Wales hasn’t been so small for the last 35 years.
ArticlesThis type of mortgage was called so because it actually tracks the changes of Bank of England’s base rate. Although it may seem surprising, in fact the lender knows you better than you think. Let’s assume that you apply for a loan to pay for a new car, property, or any other acquisition, and the lender is well aware that your ability to repay the loan is minimal. |
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