Nationwide Mortgage Rates Go Up Again
Concerns over whether are not the rate cuts by the Bank of England (currently at 4.5%) will eventually trickle down through to high street lenders thus giving a much-needed rate cut for UK homeowners. The UK's largest mortgage lender, Nationwide Building Society, has confirmed it will be raising its rates on their home loans for a second time in less than 2 weeks.
Continue reading...6. October 2008
House Prices In September Fall Again
Nationwide, the UK’s biggest building society, has reported that house prices have fallen by almost £3,000 in September bringing the average home price down to just £161,797. September figures show prices falling for the 11 month in a row as the average price now is 12.4% lower than this time last year. In September 2007, the [...]
Continue reading...30. September 2008
Mortgage Lending Drops To New Lows
Last month mortgage lending in Britain fell to alarmingly low numbers. As a matter of fact, only a mere 2% of mortgages were approved compared to this time last year. To make matters worse, data from the Bank of England revealed fewer home loans were approved last month than over the past decade when records first [...]
Continue reading...26. September 2008
Top Reasons To Rejoice At Falling House Prices
The Times Business listed a number of reasons to “cheer” over falling house prices. Sure, the value of your home will probably continue to drop the rest of the year and possibly next but could there be a silver lining amongst the ominous clouds of bad financial news? Chin up, here are a few positive reasons [...]
Continue reading...26. September 2008
Will We See Another Great Depression?
Many experts have been comparing the US financial crisis to almost 80 years ago when the country fell into the Great Depression. No one could be blamed for such a comparison because it seems like everyday another bank is taken over or bailed out by the government. However, such a comparison may be a bit pessimistic [...]
Continue reading...24. September 2008
Mortgage Difficulty With Low Or No Deposit
According to a recent research led by consumer website Moneyfacts.co.uk, the availability of mortgages for would be home buyers has significantly dropped compared to this time last year. Prior to the credit crisis, the proportion of 100% or low deposit mortgages was just under 75%. One year on and the figure has dropped to a [...]
Continue reading...23. September 2008
Will Mortgage Rates Increase?
We could be seeing mortgage rates increase after the market turmoil last week according to analysts. Three month LIBOR rates have risen as instability in the financial markets followed the collapse of Lehman Brothers and the last-minute bailout of AIG. Banks are ever more reluctant to lend to each other making funds less available to the [...]
Continue reading...
22. October 2008
0 Comments