Fifteen thousand estate agents could lose their jobs
June 12, 2008
According to a recent report around fifteen thousand estate agents could lose their jobs this year, as the housing slump coupled with lack of mortgages due to the credit crunch, continue to take their toll. The prediction has been made in a worrying report from the Centre for Economic & Business Research. The report goes [...]
Egg pulls out of mortgage market
June 11, 2008
Internet financial giant Egg, which is owned by the world’s largest bank, Citigroup, has announced that it is pulling out of the mortgage lending market in order to concentrate more on other areas of finance such as credit cards and loans. The lenders has only a small share of the mortgage market – around one [...]
Government to provide more help for homeowners that are struggling
June 9, 2008
According to a recent report the government has promised to provide additional help and assistance for homeowners that are struggling in the UK.
A number of reports have shown that repossession levels have been rising and are expected to soar over the coming year, and the government plans to put procedures in place to help those [...]
Estate agents in danger due to housing slump
June 6, 2008
A recent report has indicated that many estate agents could be facing a disastrous future as a result of the housing slump that has hit the UK markets.
Not only have house prices been plummeting over recent months but the level of sales in the housing market has also dropped significantly and is set to get [...]
Some banks try and attract more custom
June 4, 2008
A recent report has shown how some banks are trying to attract new custom by cutting the interest rates on some mortgage products.
A number of banks have used this tactic recently in a bid to try and secure a greater share of the mortgage market and take advantage of the huge gap that has been [...]
Some first time buyers feel the pinch of house price slump
June 4, 2008
According to a recent report many first time buyers that have recently purchased their homes may already be feeling the effects of the house price slump, with some facing the possibility of being plunged into negative equity, where they owe more money on their home than the property is actually worth.
Negative equity is something that [...]
Brokers unhappy about lack of access to mortgage deals
June 3, 2008
Over recent months the chaos caused in the financial markets by the global credit crunch has seen many changes take place, particularly in the mortgage sector, where deals have been taken off the shelves, lending criteria has been tightened, and interest rates have been hiked up, as well as deposit requirements and arrangement fees increasing.
Another [...]
More time for sellers due to HIP delay
June 2, 2008
Home Information Packs, or HIPs, have been at the centre of controversy since they were introduced by the government last year, and this has partly been due to the various delays that have been experienced with HIPs.
These packs were eventually rolled out to all residential properties for sale in England and Wales last December, but [...]
£50 billion plan could take to kick in
May 29, 2008
According to a recent report the £50 billion mortgage rescue plan from the government could take some time to kick in, which means that in the meantime mortgage could remain expensive and could continue getting more expensive, further impacting on the slump in both the mortgage and the housing markets in the UK.
The rescue plan [...]
Mortgage markets could take two years to settle
May 28, 2008
According to officials from the Building Societies Association the mortgage markets in the UK could take two years to settle following the chaos that has ensued as a result of the global credit crunch, which still maintains its hold on the money markets in the UK.
Lenders have found it increasingly difficult to secure finance on [...]
