Mortgage Articles
The Best Places For House Price Gains In 2008
Many experts predict 2008, and most likely 2009, will experience a housing market correction. House values are expected to drop however, in some areas of the UK a rise is expected. Building up to the 2012 Olympics could see parts of East London as a top performer as well as parts of Scotland and Wales. As usual, it's all about location... Read More
Where Will Property Prices Go in 2008?
Experts are predicting property values could drop by as much as 10% in 2008. UK Banks and agencies agree that the majority of UK homes are 30-40% overvalued thus leaving the market vulnerable to market volatility. Recent polls show most consumers expect a drop in house prices in 2008. While this may be bad for homeowners, it brings affordability to first time buyers.... Read More
More Rate Cuts To Come, Suggests Bank
A mixture of both optimism and pessimism seem to be on the cards for 2008. With the credit crunch hitting the UK and the Bank's surprise at the downturn in the housing market, it seemed inevitable for the base rate to drop in December. All eyes will be on the Monetary Policy Committee this month to see if January will share in another rate cut. ... Read More
Bank Survey Shows How Householders Are Struggling
In today's economic credit crisis UK homeowners are having to work more to pay interest rates after several increases in the past year. Lenders are forced to tighten lending criteria due to less available funding and experts fear a large number of households are teetering on the edge of insolvency. The Bank's survey reveals the vulnerability of many households... Read More
Christmas Misers Hold Back On Rate Cut
Despite the much anticipated rate reduction by the Bank of England earlier this month many high street lenders have yet to pass on this "benefit" to its borrowers. Because of the US sub-prime collapse, UK banks have found themselves under-funded and some experts claim the banks are trying to recoup losses at the expense of the UK homebuyer... Read More
HIPs In Place For All Properties
14 December means homes for sale in England and Wales must provide a Home Information Pack (HIP). Originally required for 3 to 4 bedroom homes, HIPs will now be required for 1 and 2 bedroom homes as well. Whilst HIPs still receive criticism the Government feels they pose no adverse affect to the housing market, transactions or the prices of homes... Read More
Charity Fears A Sub-Prime Crisis Is Coming To The UK
The sub-prime crisis is becoming more apparent in the UK according to charity organisation Citizens Advice. The main concern in recent past is how lenders have helped some people obtain mortgages that are simply unaffordable. For many borrowers this means a recipe for disaster. As the credit crunch takes hold in the UK, many homeowners will find themselves unable to make repayments thus leading to a rise in arrears and repossessions, it's feared... Read More
Mortgage Costs Are Highest For 16 Years
Struggling mortgage borrowers are paying out a large part of their earnings toward their mortgage interest. Lenders are warning borrowers that it's going to get a lot tougher. A record amount of take-home pay is set aside for mortgage interest, a direct result of several Bank of England base rate increases and soaring property prices. First-time buyers are hit the hardest with over 20% of their earnings going toward interest... Read More
Mortgage Life To Get Tough
For those with fixed-rate mortgage deals ending in 2008 can expect to be paying higher monthly repayments. With lenders tightening their criteria and some homeowners falling into the category of "adverse credit" 2008 could find themselves in a tougher financial situation. Borrowers in this situation should look now to compare new deals before their fixed rates expire... Read More
Buy-To-Let Still Doing Well For Large Portfolios
Despite some recent bad press regarding the buy-to-let market lately, experienced landlords are seeing the slumping housing market as a golden opportunity. As the credit crunch affects house price values, and in some cases timely sales, investors are able to take advantage of opportunities where they can purchase homes sometimes lower than market value... Read More
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