Since 2008, first time buyers have had it tough. With lenders afraid of borrowers who were defaulting and properties falling into negative equity, the reins have been significantly tightened.
Demanding deposits to the value of (more…)
According to figures released yesterday, both mortgage lending and house prices are on the rise.
The monthly figures from the UK’s largest building society, Nationwide’s Property Index, showed the average house price is now £161,183, which shows an (more…)
According to Nationwide research, around 75 percent of homeowners with a mortgage have no plans at all to consider how they will cope when the interest base rate rises, as it inevitably will.
As any mortgage advisor will tell a customer looking to apply for a mortgage, it is important that if they ever find themselves struggling to maintain their household expenses or (more…)
Following an increase in new mortgage lending last year of 6%, Leeds Building Society has promised it will be increasing its new mortgage lending levels by 30% in 2011.
Last year, the building society increased its retail deposits to a new record level, a move which saw its pre-tax profits rise by approximately one third to an impressive figure of £42.2 million.
The UK’s fifth largest mutual society has announced its (more…)
According to recent statistics released by the Council of Mortgage Lenders (CML), the average first time buyer now needs approximately one year’s salary to put down as their initial deposit on a property purchase.
In early 2007, the typical FTB deposit was (more…)
Bridgewater Equity Release has released a report this month showing the results of their study into why people choose to release equity from their homes and how their extra cash is used. 43 per cent said it was to pay off a current mortgage.
Examining their own customers’ sales and additional advances over the course of last year, Bridgewater discovered the top five purposes were (more…)
Rumours in the media this week say that nationalised bank Northern Rock could be preparing to re-launch its range of mortgage products, including its first high LTV mortgage deal aimed at the first time buyer market since its nationalisation in the credit crunch.
Reportedly, the bank is preparing for a sale or stock (more…)
This month, Spanish bank Santander has announced its profits for 2010. Despite the fall in gross lending that most UK mortgage lenders have also seen, the bank has grown by 11 percent in comparison with 2009.
One reason for such growth is the acquisitions of other prominent UK lenders, such as Abbey and Alliance & Leicester.
Overall, the figures show that the (more…)
In the last year or so, many have found themselves struggling with their mortgages. Others have found their mortgage payments have dropped due to the record low base interest rate. Yet with talks in the media that interest rates are likely to rise this year, the storm isn’t weathered (more…)
