- Wednesday, April 23, 2008, 14:19
- Debt Management, Mortgages
Morgan Stanley recently delivered a grim warning that within the next 12 months UK house prices will fall by 15 per cent, and 1.2 million people will be pushed into negative equity as a result.
Many homeowners, particularly
first time buyers, have borrowed 100% or more of their home’s value when taking out a
mortgage over the past few years. As property prices have ...
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- Tuesday, April 22, 2008, 11:35
- Mortgages
There are high hopes that the Chancellor’s intervention by way of a £50 billion mortgage bailout will help to re-stabilise financial markets and bring about the end of the beginning of the UK credit crunch.
Yesterday the Bank of England unveiled a £50 billion scheme designed to restore confidence into the ailing mortgage market. The plan, announced by the Chancellor, Alistair Darling, will allow banks to ...
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Many households will be pushed over the edge into bankruptcy this year as borrowing channels dry up as a result of the international credit crunch.
A report from the TDX Group, which provides detailed debt-collection information to lenders, claims that about one millions consumers are struggling with ‘problem debt’, at an average of around £25,000 each. Almost 600,000 of these are expected to be forced into ...
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- Friday, April 4, 2008, 16:46
- Mortgages
Each month I put together a short summary of the best mortgage products currently available from UK mortgage lenders. After reviewing this month’s best-buys, I am taken aback by how noticeably the trickle-down effect of international market turmoil is revealing itself. The mortgage market is visibly shrinking. Over the past two weeks three of the UK’s biggest mortgage players, Nationwide, NatWest and the Norwich & Peterborough Building ...
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- Wednesday, April 2, 2008, 17:25
- Mortgages, Personal Finance
First Direct has closed its doors to new mortgage business, fuelling growing concern that increasing borrowing costs are fast becoming unaffordable for first time buyers.
First Direct has announced that they are presently experiencing an influx of mortgage applications that have caused a massive backlog. Until the backlog has been cleared, they will not be accepting new applications. The move was announced as an alternative to ...
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