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Wednesday, August 27
Mortgage lending figures give some hope
by
bewarethesharks
on Wed 27 Aug 2008 16:29 BST
The number of new mortgages agreed by leading banks edged higher last month, raising hopes that the worst of the drought in the home-loans market may have passed. A total of 22,448 loans for house purchase, rather than remortgaging, were approved by banks during July. Although this was still a ... more » Friday, August 15
Tenants sitting pretty as rents fall
by
bewarethesharks
on Fri 15 Aug 2008 15:44 BST
Rents will fall by up to 10% this year, according to some of Britain's biggest letting agents, as a wave of properties that owners and developers can't sell have started to flood the rental market. The fall in rents will bring welcome relief to tenants but will squeeze buy-to-let landlords ... more » Friday, August 8
Repossessions rise by 41%
by
bewarethesharks
on Fri 08 Aug 2008 14:56 BST
The number of homeowners having their properties repossessed jumped by 41% in the first half of this year to its highest level in 12 years, figures showed today. The Council of Mortgage Lenders (CML) said 18,900 properties had been taken into possession by lenders over the six months to June, ... more » Wednesday, August 6
Fast not slow at Northern Rock
by
bewarethesharks
on Wed 06 Aug 2008 14:51 BST
February 2008 was a bad month to buy a bank, even if the purchase price was zero and you had £27bn of loans to protect. Given the slump in the housing market, the government's "investment" in Northern Rock, the mortgage lender it had to nationalise after a depositor run last ... more » Wednesday, July 30
HSBC latest to cut mortgage rates
by
bewarethesharks
on Wed 30 Jul 2008 13:13 BST
HSBC has become the latest mortgage lender to cut its rates following a drop in wholesale funding costs. The group is reducing its two-year fixed rate mortgage by 0.31%, while longer term fixed rate loans are being cut by 0.16%. It is also cutting the booking fee ... more » Sunday, June 8
Banks are only as safe as houses
by
bewarethesharks
on Sun 08 Jun 2008 16:49 BST
As mortgage lenders struggle to shore up their balance sheets, a new crisis may be on the way from the buy-to-let market House prices are already falling by more than 25 per cent a year. That is the figure the experts at M&G have come up with by extrapolating the ... more » Thursday, June 5
Abbey increases mortgage rates and Egg quits mortgage business
by
bewarethesharks
on Thu 05 Jun 2008 14:44 BST
Wednesday, June 4
Bank of England unlikely to cut interest rate, despite pleas
by
bewarethesharks
on Wed 04 Jun 2008 17:43 BST
Homeowners face further worry today as the Bank of England is set to resist calls for a cut in interest rates, despite a fall in house prices and mounting evidence of a sharp slowdown in the economy. The Bank is expected to decide that rising inflation means that it must ... more » Tuesday, June 3
Mortgages: Nationwide raises rates
by
bewarethesharks
on Tue 03 Jun 2008 16:39 BST
Nationwide building society announced today it was increasing the cost of its fixed-rate mortgages by up to 0.3%. The changes, which come into force tomorrow, wipe out some of the rate reductions made by the lender last month. The group is increasing the rate of its best two-year fixed-rate mortgage ... more » Thursday, May 29
America's house prices are falling even faster than during the Great Depression
by
bewarethesharks
on Thu 29 May 2008 18:47 BST
AS HOUSE prices in Monday, May 26
Number of homes on market surges but buyers stay away
by
bewarethesharks
on Mon 26 May 2008 20:38 BST
Pressure on house prices in Prices fell for the eighth month in a row, falling 0.5 per cent during the month after ... more » Thursday, May 15
Bank of England dashes hopes of interest rate cuts amid inflation threat
by
bewarethesharks
on Thu 15 May 2008 09:42 BST
Hopes of early relief for homeowners in the form of lower interest rates were dashed by the Bank of England today as it forecast inflation could reach 4pc in the months to come. Governor Mervyn King effectively signalled an extended period of stagflation, as the high interest rates needed to ... more » Thursday, May 8
Buy-to-let: professional investors cash in on the credit crunch
by
bewarethesharks
on Thu 08 May 2008 16:40 BST
The amateur buy-to-let investor has had his day. Deterred by falling property prices and hampered by a lack of mortgage credit as banks tighten their lending criteria, small players who want to buy one or two homes to supplement their income or bolster their pension are fast disappearing. At the ... more » Wednesday, May 7
Cash injection has not cut cost of borrowing
by
bewarethesharks
on Wed 07 May 2008 15:37 BST
The Bank of England's £50 billion cash injection into the mortgage market has so far not made any difference to the cost of borrowing, the head of the UK's biggest building society said yesterday. Graham Beale, chief executive of Nationwide, told The Times that a response to the facility "has ... more » Thursday, May 1
Abbey trims some mortgage rates
by
bewarethesharks
on Thu 01 May 2008 11:11 BST
Abbey, owned by Spain's Santander is trimming some fixed and flexible mortgage rates as it tries to lure new customers in the face of a credit crisis and deteriorating outlook that have seen rivals retreat.
Abbey said on Thursday it would cut its two-year fixed-rate mortgage deals by 0.11 percentage ... more » Wednesday, April 30
Fed cuts key rate to 2% but urges caution over inflation
by
bewarethesharks
on Wed 30 Apr 2008 15:53 BST
The US central bank cut interest rates last night for the seventh time since last summer as it sought to combat the impact of a collapsing housing market and the credit crunch on the world's biggest economy. The Federal Reserve's open market committee voted unanimously for a quarter-point cut in ... more »
US economy 'just keeps its head above water'
by
bewarethesharks
on Wed 30 Apr 2008 14:30 BST
The US economy grew 0.6% in the first three months of the year as an increase in inventories compensated for weaker consumer spending and a deteriorating housing market. Despite beating analysts expectations, the Commerce Department's report shows a widespread weakening that many analysts fear will lead to a recession. However, ... more » Tuesday, April 22
Abbey raises rates after Bank's £50bn bail-out
by
bewarethesharks
on Tue 22 Apr 2008 17:18 BST
Alistair Darling's hopes of reinvigorating the mortgage market were dealt a blow last night when one of the country's biggest lenders raised its rates despite a multibillion-pound Bank of England bail-out of the home loan sector. Abbey, the third largest lender, warned that it was raising the rates on some ... more » Sunday, April 13
A million miss out as mortgages dry up
by
bewarethesharks
on Sun 13 Apr 2008 12:10 BST
The mortgage drought means the number of loans could be halved this year - leaving a million potential homebuyers without the cash to buy a home. Friday, April 11
Mortgage lending 'could fall by half this year'
by
bewarethesharks
on Fri 11 Apr 2008 14:51 BST
Mortgage lending could fall by half this year unless the Bank of England makes more money available to lenders, it was warned today. The chairman of the Council of Mortgage Lenders (CML) , Steven Crawshaw, said despite a slowdown in demand for new home loans, "potential borrowing still significantly exceeds ... more » Thursday, April 3
Thousands of families at risk of negative equity
by
bewarethesharks
on Thu 03 Apr 2008 15:52 BST
About 100,000 poeple who bought homes last year with little or no deposit are likely to find themselves in negative equity as soon as September. Mortgage brokers said that borrowers who bought last year with deposits of 5 per cent or less could soon owe more than their property is ... more » Tuesday, April 1
First Direct puts mortgages on hold
by
bewarethesharks
on Tue 01 Apr 2008 11:53 BST
First Direct today became the latest lender to withdraw from the mortgage market, as it pulled out of offering mortgages to anyone other than existing customers. The bank, which is owned by HSBC, said it was taking the "drastic" step after being overwhelmed with applications following recent moves by rival ... more » Friday, March 21
Tempers cool but markets remain icy
by
bewarethesharks
on Fri 21 Mar 2008 14:33 GMT
It was billed as a showdown between the heads of Britain's biggest retail banks and the Bank of England. In private, the executives had been talking it up all week. The Bank should be more like the US Federal Reserve, they argued: pour money into the banking system, lend for ... more » Sunday, March 16
Bear Stearns crisis sparks UK recession fears
by
bewarethesharks
on Sun 16 Mar 2008 17:22 GMT
Millions of British households face soaring mortgage rates and tumbling house prices after the global financial crisis triggered the near-collapse of one of the world's biggest banks. Experts warned that there is now an increased likelihood of a recession and a painful housing slump, after Bear Stearns - America's fifth ... more » Wednesday, February 20
Three lenders scrap 125% mortgage deals as criticism increases
by
bewarethesharks
on Wed 20 Feb 2008 17:16 GMT
Three mortgage lenders yesterday pulled the plug on deals that allow home buyers to borrow as much as 125% of a property's value - the day after Northern Rock came under fire for offering similar deals. It is the latest evidence that banks and building societies are tightening their ... more » Friday, February 8
New German mortgage products for self employed buyers
by
bewarethesharks
on Fri 08 Feb 2008 17:05 GMT
Spanish-based mortgage broker Capital Financial Partners (CFP) is offering agents with access to self-employed buyers a range of new mortgage products for investing in German property. The 100% interest only mortgage is set at an interest rate of under 6% for a 12 year period. The 40% deposit required ... more » Friday, November 30
Hopes that Fed will cut rates lead to world stock market
by
bewarethesharks
on Fri 30 Nov 2007 09:29 GMT
Shares leapt on both sides of the Atlantic yesterday after market hopes that the Federal Reserve will try to calm credit conditions with further interest rate cuts were boosted by soothing comments from the US central bank’s vice-chairman. Stock markets surged in London, New York and across Europe after Donald ... more » Tuesday, November 27
Darling hints at capital gains tax U-turn
by
bewarethesharks
on Tue 27 Nov 2007 11:46 GMT
Alistair Darling today signalled that he may backtrack on his unpopular changes to capital gains tax, as critics continued to attack his decision to announce the proposal without consulting the business community first. Speaking at the CBI annual conference this lunchtime, the chancellor said he was "open to suggestions" ... more » Wednesday, November 21
6% growth in mortgage lending
by
bewarethesharks
on Wed 21 Nov 2007 10:40 GMT
Gross mortgage lending grew to an estimated £32.4 billion in October, rising nearly 6% from £30.6 billion in September and £30.6 billion in October last year, according to the Council of Mortgage Lenders (CML). While the increase is higher than the 3% seasonal rise that might typically be ... more » Friday, November 9
Play the currency game to pay your mortgage
by
bewarethesharks
on Fri 09 Nov 2007 15:53 GMT
If you had put a £1m mortgage into US dollars at the start of the year and left it without making a single payment, then thanks to the falling dollar that mortgage would have decreased in value by more than £70,000. Such is the beauty of foreign currency mortgages, ... more » Monday, November 5
US spending slow despite rate cut
by
bewarethesharks
on Mon 05 Nov 2007 17:37 GMT
Growth of spending by Spending grew by 0.3% in September after August's revised growth of 0.5%, according to the Commerce Department. A separate report showed that |
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