Mortgages
The decline of sub prime lending – where will it end?
It seems that the effects from the credit crunch on the sub prime mortgage market are far from over. Julia Harris, mortgage analyst from moneyfacts.co.uk looks at recent changes to the ever-depleting market.
Nationwide celebrates 1st anniversary of 25 year fixed rate mortgage
Nationwide Building Society is celebrating the one year anniversary of the launch of its innovative 25 year fixed rate mortgage.
Brokers can play key role in mitigating rising arrears and possessions
Intermediaries believe they have a role to play in helping to manage arrears and possesions by providing advice and counselling to borrowers, and helping them to liaise with their lender, according to the Intermediary Mortgage Lenders Association’s (IMLA) latest survey.
RICS: CML mortgage data
Commenting on the CML data, Simon Rubinsohn, RICS chief economist said: "CML data released this morning provide clear evidence that the credit crunch is now having a meaningful impact on the availability of finance for home purchases.
Battle of the sexes: households clash over cash
British men still think they are in charge when it comes to their household mortgage and finances, according to research by Halifax mortgages.
CML reports monthly fall in lending
Data released by the Council of Mortgage Lenders (CML) clearly shows the impact that ongoing financial turmoil is having on the mortgage market.
Fixed rate mortgages continue to gain popularity
Fixed rate mortgages continue to dominate the market despite further expected cuts in interest rates according to new research from Abbey Mortgages.
Government and mortgage industry urged to help homebuyers
On the eve of the launch of the first ever Moneyfacts mortgage report “Tougher times in the UK residential mortgage market”, Andrew Hagger of Moneyfacts.co.uk comments on the following topics:
Over 10,000 sign Charcol’s “Stamp on stamp duty” petition
Charcol, UK fees free mortgage broker, has gathered 10,400 signatories who agree that the current structure of stamp duty should be abolished in favour of a new system.
AMI calls for a budget for mortgages
The Association of Mortgage Intermediaries (AMI) has called on the Chancellor to introduce a budget for the mortgage market. AMI has called for greater support for first time buyers, extra liquidity in the market and improved income support for those struggling with repayments.
The Bank of England fiddles while the economy burns
“Conditions in the mainstream mortgage market are now rapidly deteriorating at a frightening speed, with lenders changing their pricing and/or criteria at the fastest pace in living memory, and probably ever.” comments Ray Boulger of John Charcol.
Alliance & Leicester: MPC decision to hold bank base rate at 5.25%
Today’s decision by the MPC to hold the Bank Base Rate was widely expected following the recent cut made in response to the continued disruption within the global credit markets, softening UK house prices and mortgage approvals data.
The Bank of England does nothing, but homeowners mustn’t
The Bank of England has kept interest rates on hold at 5.25%. The decision is not unexpected given that the Monetary Policy Committee has been backed into a corner by the twin threats of inflation and recession.
High uptake of fixed rates in February
January was a month of dramatically subdued mortgage activity, dominated by remortgages at a low loan-to-value (LTV) and low income multiples. Any purchases, including first time buyers (FTB’s) were those with ample deposits and good affordability.
What a difference a year makes to mortgages
This time last year Northern Rock was just another bank and the words ‘credit crunch’ had no significance. One year on and the mortgage world is a completely different place.