Advice being put together for homeowners that face rising repayments

According to figures from the Financial Services Authority one and a half million homeowners could be facing rising mortgage repayments over the coming months, with many cheap fixed rate deal due to come to the end of the fixed rate term.
Tight credit conditions means that many of the affected homeowners may be unable to remortgage [...]

No more mortgage from first direct for new customers

Consumers that are not already banking customers with the Internet bank first direct, which is part of the HSBC group, will not longer be able to access mortgage products from the lender.
The online bank has joined many other banks in restricting its mortgage lending in the light of financial turmoil in the mortgage lending market.
A [...]

Alliance & Leicester reduces mortgage range

In a similar move to many other mortgage lenders the Alliance and Leicester has announced that it is reducing its mortgage range with the withdrawal of one of its most popular mortgages from the shelves.
According to officials from the Alliance and Leicester they can no longer keep up with the high level of demand for [...]

Halifax holds best mortgages for those with money

One of the nation’s leading mortgage lenders, Halifax, has joined the myriad of other lenders that have decided to take action against the losses from the credit crunch by reserving its most competitive deals for borrowers that have a large sum of money to put down by way of a deposit.
A range of lenders have [...]

Many borrowers have become reliant on brokers

According to a recent report many borrowers that come under to category of sub-prime borrowers have become increasingly reliant on brokers to help them to find finance such as mortgages.
With credit conditions becoming increasingly tight because of the global credit crunch many may think that using a broker is their only hope of getting the [...]

House prices suffer first annual fall since 1990s

According to a recent report house prices in the UK are facing the first annual fall since the dark days of the 1990s, with many industry officials expecting the value of homes to plummet over the next couple of years.
It has been predicted that during this year house prices will fall on an annual basis [...]

Are you eligible for a mortgage repayment holiday?

According to a recent report many homeowners with mortgages could be eligible for a mortgage repayment holiday, but may not be aware of this fact. With household finances strained, and with access to finance limited, many people have been struggling to keep up with their mortgage repayments.
Many have even turned to loans and credit cards [...]

March sees house prices fall for sixth consecutive month

According to a recent report March saw house prices in the UK fall for the sixth month in a row, which has left the average house prices in England and Wales standing at £174,100. Officials from Hometrack state that this puts house prices inflation at just 0.4% for the year.
Annual house prices inflation has hit [...]

Large proportion of income goes on mortgage repayments

According to some industry officials many homeowners are having to spend a large proportion of their income on mortgage repayments, and this is increasing the chances of a major housing slump occurring in the UK.
A recent study was carried out by Capital Economics, and the results showed that some homeowners are spending up to a [...]

HIPs under fire from estate agents

The controversial Home Information Packs that were introduced last year by the government have come under fire yet again, this time by the estate agency industry.
These packs became compulsory on all residential properties being marketed for sale across England and Wales last December, having been rolled out on a stage by stage basis since last [...]

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