Mortgage mix ups results in Ombudsman complaints

According to recent reports the Financial Ombudsman Service has been receiving a rising number of complaints with regards to mortgage bill mix ups, with many consumers complaining that they have been left with a hefty bill to pay after they thought that they had cleared their balance.
The reason behind this problem is because the consumers’ [...]

Homeowners could face years of negative equity

A warning has been issued by a housing group that some homeowners in the UK could be facing several more years of negative equity. According to the National Housing Federation homeowners that purchased their homes at the peak of the property market could still be facing around four more years of being in negative equity.
Negative [...]

Many Brits now own second homes

Recently released figures have shown that a rising number of people in England now own a second home, with the number of people in England that own a second home having soared to record levels despite a shaky property and mortgage market.
The figures show that nearly a quarter of a million people in England now [...]

Only 1000 mortgages a day being approved by banks

Over the past couple of years, with the credit crisis taking its toll on the UK’s financial sector, many banks have had to be bailed out with the use of taxpayer’s money. However, despite being bailed out via the public purse, and amidst calls for banks to lend more money, the total number of mortgages [...]

£99 mortgage fee withdrawn by Northern Rock

Northern Rock, one of the first major UK victims of the global credit crunch a few years ago, recently announced that it was launching a £99 mortgage fee in order to attract more business. The troubled bank, which was nationalised following the problems it experienced, became the first victim of a run on a British [...]

Figures show year on year increase in mortgage lending

According to recent figures released by High Street banks in the UK the mortgage market has seen net annual growth year and year, with an increase of 4.1 percent. The figures, which were compiled from banks’ data, have been put together by the British Bankers’ Association, and have indicated that annual growth when it comes [...]

Fall in asking prices blamed on holidays

According to a recent report there has been a fall in asking prices in the UK, and this has been blamed on the holidays, and the fact that sellers now have even fewer people that may express an interest in their properties because many are away on their holidays. A survey was carried out by [...]

Low rates result in cut in repossession forecasts

Earlier this month the Bank of England announced that the base interest rate was being kept on hold at its all time low of just 0.5 percent, which is the lowest it has even been in the history of the Bank of England, which spans over three centuries. This is the eighteenth month in a [...]

Rise in mortgage related fraud this year

According to a recent report there has been a marked increase in mortgage related fraud this year, with fraud levels in terms of value said to have quadrupled over the first six months of this year. Since the onset of the global financial crisis mortgage fraud has been steadily rising, and has now experienced a [...]

Increase in mortgage applications recorded by Co-op

The Co-operative Financial Services has recently reported that there has been an increase in the number of mortgage applications, and this comes despite the continued difficulties and challenges that are being faced by the property and mortgage markets.
According to officials from the financial institution there has been an increase of 31 percent in mortgage applications [...]

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