Mortgages News

Growth of house prices begins to slow down - Wed, 13 Jul 2016
Uncertainty over the effects of Brexit has led to buyers losing confidence and the growth of house prices slowing, figures from Halifax indicate. In May, the rate of annual house price growth in the UK was 9.2 per cent, but this fell to 8.4 per cent in June, more

House prices increased by 8 per cent in the last year - Wed, 15 Jun 2016
Official figures show that house prices in London have risen by 14.5 per cent, as prices increased across the whole of the UK. According to the UK House Price Index, the average UK property price now stands at £209,054, after prices rose 8.2 per cent in more

Does the market favour buy to let landlords over first time buyers - Tue, 12 Apr 2016
Recently, the government has made life for buy to let landlords a little more difficult, to try and help first time buyers onto the property ladder. Despite this, continuing interest rate cuts are making the market more and more attractive. The average more

Homeowners who fail to switch mortgage deals may be paying out thousands of pounds extra - Tue, 29 Mar 2016
A recent study of the housing market has found that a third of borrowers end up paying over 2,000 extra in interest by not remortgaging when their initial mortgage deal runs out. Many lenders have special mortgage deals which give certain discounts for the more

Landlords dominate the market and eclipse first time buyer purchasing - Tue, 15 Mar 2016
Landlords have over taken first time buyers in terms of the amount that is being lent out for mortgages, showing the lay of the land within the housing market. Young people are suffering, unable to get together a deposit to get themselves onto the property more

Cost of renting revealed - Wed, 24 Feb 2016
Before getting their first mortgage, people will spend thousands and thousands of pounds on renting, a new report has claimed. The problem gets ever worse when in the capital city, where prices for both buying and renting are extraordinarily high. Across the more

First time buyer lending increases but starter homes remain out of reach for many - Wed, 17 Feb 2016
Conflicting reports have surfaced, confusing the matter of the first time buyer's market and starter homes. On the one hand, figures reported by the Council of Mortgage Lenders have said that there has been a large increase in the amount of money lent out to more

First time buyers rush to check out the new Help to Buy scheme - Wed, 10 Feb 2016
Over ten thousand people who long to become home owners have flocked to check out the London Help to Buy scheme, to see if it can boost them onto the property ladder. Reportedly, 15,000 people who are caught in the rental trap, or are stuck living with more

People may be paying off their debts well into old age - Wed, 03 Feb 2016
First time buyers face an extended and unprecedented amount of time before they are rendered debt free, according to a new study. Comparing data between a survey of 2,000 people and statistics from the Office of National Statistics (ONS), the study compiler, more

90 per cent LTV mortgages drop in price - Tue, 19 Jan 2016
Quarterly product data from Mortgage Brain have indicated that the cost of mainstream 90 per cent loan-to-value has dropped compared to three months ago. The advent of 90 per cent loan-to-value has reflected the demand in the market of cheaper deposits, as more

Jump in number of first time buyers purchasing a home - Wed, 06 Jan 2016
The number of first time buyers rose by just under a quarter in November, according to figures from Your Move and Reeds Rains. In November 2015 31,300 transactions on properties were made by first time purchasers. This is roughly 6,000 more people who managed more

CML fears regulations may stop you moving house - Wed, 23 Dec 2015
Banks and building societies have spoken out that the red tape surrounding the mortgage sector, protecting customers, is in fact making it a lot harder for middle aged people and online applicants to get a mortgage themselves. The Council of Mortgage Lenders ( more

House prices continue to rise - Wed, 16 Dec 2015
House prices are up, and are apparently set to carry on climbing throughout the near future, making it more difficult than ever for first time buyers to get on the property ladder. Statistics from the Office of National Statistics have found that house prices more

House prices drop in November but climb throughout the year - Wed, 09 Dec 2015
Average house prices took a dip between October and November of 2015, with the cost coming down by 380. However, over the year up until November, the prices increased by a huge amount. The small price drop over the month in a minor victory for those seeking more

Government launches Help to Buy ISA for first time buyers - Tue, 01 Dec 2015
The government has finally launched its much anticipated Help to Buy ISA, which sees the government contribute to first-time buyers' savings so they can buy a house. For first-time buyers, affording a deposit in the first place is the main problem they face, more

Lenders to simplify mortgage tariffs - Tue, 24 Nov 2015
In order to help borrowers find the cheapest deal, building societies and banks will simplify mortgage information, pledging to get rid of confusing terminology. Which? and the Council of Mortgage Lenders (CML) have launched a new tariff together which more

Remortgaging activity jumps significantly in a year - Wed, 18 Nov 2015
Figures from Connells Survey and Valuation have shown that the number of remortgage valuations has risen 53 per cent from October 2014 to October 2015, despite the traditional seasonal fall seeing a fall of 21 per cent compared to September. Experts say this more

Homebuyers face fees and taxes of up to GBP 6000 - Tue, 10 Nov 2015
New figures by MoneySavingExpert indicate that first-time buyers looking to get a mortgage could face fees and taxes of up to 6,000 when buying a house. Although many prospective buyers make saving enough money to afford a deposit as their main objective, more

Halifax says house price growth rose in October - Thu, 05 Nov 2015
The largest mortgage lender in the country, Halifax, has revealed that UK house prices experienced a growth increase in October. Prices in October rose at an annual pace of 9.7 per cent, rising from the 8.6 per cent recorded for September. The 1.1 per cent more

Mortgage approvals fell to four month low in September - Wed, 28 Oct 2015
A lack of homes available on the market has been blamed for causing the number of mortgage approvals to fall to a four-month low in September. The number of mortgages fell from 46,567 approved in August to 44,489 approved in September, according to the more

Housebuilding in Wales may struggle with new requirements - Wed, 21 Oct 2015
House building firms in Wales may see the market getting a bit more tricky to navigate, and less worth bothering with, according to the boss of a leading house builder. Steve Morgan, the chairman of Redrow, has spoken out about the difficulties that new laws more

Mortgage lending remains strong despite August dip - Wed, 14 Oct 2015
Industry figures show that mortgage lending fell in August, as part of the traditional summer decline in market activity, although borrowing is still higher than this time last year. The Council of Mortgage Lenders said that August lending was 9 per cent more

Mortgage market review by FCA begins - Wed, 07 Oct 2015
The Financial Conduct Authority (FCA) has revealed that it has started a review of the mortgage market in an attempt to find out if competition between lenders is actually working well, with concerns that borrowers are missing out on the best deals. Concerns more

Mortgage lending reaches highest level for 19 months - Wed, 30 Sep 2015
A total of 71,030 mortgages were approved in August, the highest number of loans for 19 months and up from 69,010 in July. These figures from the Bank of England beat analysts' expectations and represents the largest rise since 2008, presenting further more

Lenders offer low deposit mortgages again - Wed, 16 Sep 2015
Some of the major lenders in the UK have begun selling mortgages which only require a small deposit again. Santander and Nationwide have recently launched mortgage products which are at 95 per cent loan-to-value. This means borrowers only need a deposit of 5 more

Record number of people used Help to Buy in June - Wed, 09 Sep 2015
The number of people making use of the Help to Buy service rose to a record high in June, according to new data, with property worth 1.1 billion being purchased. There were more than 4,700 equity loans received through the government's Help to Buy scheme in more

Nearly one million people face mortgage difficulties - Fri, 04 Sep 2015
Citizens Advice have announced that almost one million homeowners are unable to pay off their mortgages, because they chose interest-only loans. The Financial Conduct Authority (FCA) did not expect this figure to be so high in previous estimates, and Citizens more

Mortgage approvals reach highest level since February 2014 - Wed, 26 Aug 2015
The British Bankers' Association (BBA) has announced the number of mortgages approved in the UK during July rose to a 17-month high, indicating the housing sector is improving. There were 46,033 mortgage approvals for house purchases in July, beating the 44, more

Homebuy scheme launched by Glasgow Credit Union - Wed, 19 Aug 2015
The Glasgow City Council and Glasgow Credit Union have unveiled a partnership which will help buyers get onto the property ladder, which is especially positive news for first-time buyers. The partnership has been approved by the council's executive committee, more

Mortgage lending in June bounces back - Wed, 12 Aug 2015
Thanks to first-time buyers, mortgage lending recovered in June after their strong return to the property market, according to the Council of Mortgage Lenders (CML). Compared to May, the value of mortgages which were taken out by first-time buyers rose 24 per more

Mortgage rates begin to climb back up - Wed, 05 Aug 2015
After years of decline, mortgage rates are rising again, figures show, which is worrying news for young homeowners who may struggle, after recent speculation the Bank of England may raise interest rates. Some deals have been completely withdrawn, whilst many more

Virgin Money experiences mortgage growth - Wed, 29 Jul 2015
Virgin Money, the Edinburgh-based bank, has announced its profits experienced a boost after its mortgage lending grew significantly. There was considerable growth in mortgage lending for the company, of 44 per cent, up to 23.6bn. Its first half figures more

Second quarter growth for mortgage demand - Tue, 14 Jul 2015
The demand for mortgages rose from April to June this year, according to figures from the Bank of England. It is the strongest demand for mortgages since the end of 2013, and is expected by experts to hold strong over the summer. Between February and May, 193, more

Mortgages being repaid in record time - Tue, 07 Jul 2015
According to the Bank of England, households in the UK are paying their mortgages off at a record pace, leading to a 13bn debt reduction for the first quarter of the year. This is surprising to economists who did not expect an increase in the speed of more

Mortgage lenders under pressure to help older borrowers - Wed, 01 Jul 2015
There is a growing pressure on mortgage lenders to offer loans to older borrowers, who struggle to find products suiting their requirements when they purchase a house, or extend a mortgage. Usually, lenders will require borrowers to repay their loan by the more

Mortgage approval in May highest for more than a year - Wed, 24 Jun 2015
The number of buyers who had a new mortgage approved in May reached its highest level for 14 months, the British Bankers' Association (BBA) has announced. With almost 73,000 approved, mortgage approvals have not been this high since March 2014. Not only has more

Homeowners face a reduction in mortgage help - Wed, 17 Jun 2015
Thousands of homeowners may face financial hardship, after it was announced that the government will cut the interest rate which is used to calculate how much financial help they receive. There are 167,000 homeowners who receive financial assistance from the more

Average mortgage rate falls to record low - Wed, 10 Jun 2015
Official figures from the Bank of England have revealed that homeowners and buyers are currently receiving their best ever deals on mortgages, after rates fell during the first quarter of this year, compared to the rates at the end of 2014. The new average more

Homes bought without a mortgage reaches record high - Wed, 03 Jun 2015
According to statistics from Nationwide, the second largest mortgage lender in the UK, almost four out of every ten homes sold did not require a mortgage in the first quarter of 2015. Nationwide said that 38 per cent of properties sold were sold to cash more

Approved mortgages at ten month high - Fri, 29 May 2015
Thanks to a surge before the general election, the number of mortgages approved reached its highest figure in ten months. This year, from March to April, the number of mortgages approved increased by 7 per cent to 42,116, according to the British Bankers' more

Mortgage rates begin to rise again - Wed, 20 May 2015
Rates for five-year fixed mortgages are beginning to rise again, with experts warning that further rises should be expected, with borrowers seemingly running out of time for the cheapest deals. HSBC, which had decreased its rate to a record-low 1.99 per cent more

Mortgage arrears lowest in seven years - Fri, 15 May 2015
The percentage of homeowners in arrears (which are overdue debts) has fallen to its lowest figure since 2008 during the first quarter of this year, according to information released by the Council of Mortgage Lenders (CML). In the last eight quarters, the more

Conservative win paves the way for help to buy ISA - Fri, 08 May 2015
The success of David Cameron's Conservative Party in the general election means that we can expect Help to Buy schemes to be carried out as promised, chief amongst them the Help to Buy ISA scheme. If this promise is carried out, it will allow first-time more

Low mortgages could carry high fees - Fri, 01 May 2015
Mortgage rates drastically decreasing could mean homeowners face high fees instead, experts say, who want homeowners to take extra care with the fees involved in their purchase, primarily when the fixed-rate period comes to an end. The Co-op has just launched more

HSBC offers lowest ever mortgage rate - Thu, 23 Apr 2015
HSBC, one of the leading lenders in the UK, has lowered its five-year fixed-rate mortgage again to a record-low figure. Having already been offering the lowest rate around, of 2.19 per cent, HSBC has now reduced this to 1.99 per cent, after several other more

Buying a house is more expensive than you think - Fri, 17 Apr 2015
If you are looking to move house, you will need a sizeable amount of money that you may not have budgeted for, according to research compiled by the Centre for Economics and Business Research (CEBR) and Post Office Money. Their findings, which were partly more

Mortgage lending data shows house price growth - Fri, 10 Apr 2015
Halifax has announced that house prices in the UK rose by 0.4 per cent in March, when compared to February's figures. The average property price in the UK is now approximately 193,000. This represents a rise of 2.6 per cent in the first three months of this more

Help to Buy ISA users advised to avoid other ISAs - Thu, 02 Apr 2015
To avoid missing out, first-time buyers are being advised to avoid using any other ISAs if they sign up for the Help-to-Buy ISA, a scheme where the government contributes 50 for every 200 you save into the account, money which goes towards purchasing a more

February saw a rise in mortgage lending - Thu, 26 Mar 2015
Recent figures have shown that the number of mortgages approved in February was the highest in five months, although they were still down considerably on February last year. Attributed to very low rates currently being on offer, mortgage lending increased more

January saw unexpected decrease in mortgage lending - Tue, 17 Mar 2015
There was a surprise fall in mortgage lending at the beginning of the year according to the Council of Mortgage Lenders (CML). January saw 41,400 mortgages granted in the UK, but this figure was 26 per cent lower than in December, and 16 per cent lower than more

Lib Dems make pledge to Rent-to-Own housing schemes - Fri, 13 Mar 2015
Nick Clegg's Liberal Democrats have launched their new housing policy which will help first-time buyers to get onto the property ladder. It will be aimed at first-time buyers, who can usually afford monthly mortgage payments, but not the deposit required at more

Starter home scheme now taking applications - Fri, 06 Mar 2015
First-time buyers up to the age of 40 years can now register to purchase a house with a 20 per cent discount. This is part of Prime Minister David Cameron's Starter Home initiative, aimed at providing 100,000 new houses to first-time buyers at a discount more

Now could be the time to boost your pension with special mortgage products - Fri, 27 Feb 2015
Falling interest rates on mortgages are not only good news for people seeking to purchase a home. There are products out there for older, retired people that are benefitting from the low Bank of England interest rate. The elderly of the population are often more

Stepped mortgages are returning - Fri, 20 Feb 2015
It appears that stepped mortgages are starting to make a comeback, with lenders who are currently offering them being joined by banking giant Barclays. Stepped mortgages are mortgages which offer you a 'tiered' interest rate, which will increase during the more

Decrease in mortgage arrears and housing repossessions - Fri, 13 Feb 2015
Not since 2006 has the UK seen fewer houses repossessed, or in mortgage arrears, than there were last year. People have been protected from becoming embroiled in financial difficulties, thanks to fixed-rate mortgage costs decreasing significantly. Last year more

Costs of fixed rate mortgages are falling - Fri, 06 Feb 2015
Competition on mortgage rates between banks has resulted in reduced costs, with a typical home loan now costing approximately £1,700 less than it did four weeks ago, due to a number of recent deals and the Bank of England base rate. If a family was to more

Landlords lose appeal against sudden tracker mortgage interest rise - Fri, 30 Jan 2015
350 landlords have lost a court battle against West Bromwich Building Society, after they tried to appeal against the decision to increase tracker mortgage rates for customers with a buy to let mortgage. Led by Mark Alexander, a property investor, the group more

Improving property market is still squeezing out first time buyers - Fri, 23 Jan 2015
2014 saw mortgage lending reach new highs as a few first time buyers muscled their way back into the market, figures show. However, the number of new buyers making it onto the property ladder is still far below that of the pre-credit crunch market. The Office more

Ten year fixed rate buy to let mortgage hits the shelves - Fri, 16 Jan 2015
A ten year fixed rate buy to let mortgage went on sale this week, highlighting the competition between lenders to try and offer the most enticing deals possible. Ten year fixed rate mortgages were fairly unheard of until recently, when they suddenly exploded more

Lowest ten year fixed rate mortgage ever - Fri, 09 Jan 2015
Barclays have made mortgaging history, chopping the interest rates of a ten year fixed rate mortgage to below 3 percent. This is a result of banks trying to fish the market of people desperate to lock into low fixed rate mortgages for as long as possible, as more

South Wales mortgage scam results in jail sentences - Fri, 19 Dec 2014
A shocking mortgage scam worth up to £5 million in south Wales has been uncovered, resulting in jail sentences for four people. Mark Cainen, 44, Paul John, 44, Emma Davey, 34 and Ben Pickering, 34, were all part of a scam which went so far they had to more

Claims that lenders are restricting mortgage access - Fri, 12 Dec 2014
There have been claims made by brokers that lenders are rejecting mortgage applications for trivial reasons on the run up to the end of the year because they have already met their yearly targets. By rejecting mortgages now, the demand for them will be higher more

Stamp duty land tax reforms benefit those seeking to buy cheaper houses - Fri, 05 Dec 2014
The big news in the "housing market" recently is the shake-up George Osborne has brought about for tax on the sale of a property. "Stamp Duty Land Tax" (SDLT), a long vilified tax payout, has been changed in order to favour those buying smaller houses. more

Ten year fixed rate mortgages at record low levels - Fri, 28 Nov 2014
More low, long term mortgage rates are available than ever, according to research by Moneyfacts, with decade long fixed rate mortgages on offer for below 3.5 per cent interest. On average, 10 year fixed rate mortgages are available for 4.33 per cent, with more

Interest rate hike pushed back and gross mortgage lending increases - Fri, 21 Nov 2014
Gross mortgage lending in the UK reached £19 billion in October, according to figures released by the Council of Mortgage Lenders (CML). This is 5 per cent higher than in September, and up by 8 per cent on October last year. This is the highest lending more

Mortgages difficult to access for first time buyers without huge savings - Fri, 14 Nov 2014
The financial gap between the rich and the poor has been highlighted in a report regarding mortgages. First time buyers could be paying a record £2,800 per year extra as a result of only being able to put down a small deposit. People who can afford more

Housing market could be set to steady - Fri, 07 Nov 2014
House building firm Bovis are predicting a rise in profits next year, despite claims that the mortgage market will be more subdued than previously thought. They expect they will build 30 per cent more homes during this year overall, putting them on the track more

Worries as mortgage lending rate takes a dip - Mon, 27 Oct 2014
The housing market ran out of steam towards the end of the summer, as high street banks approved the lowest number of mortgages in over a year. The number of mortgages approved fell to 39,271 in September, which is the lowest number seen since July 2013, and more

RBS boss calls for banks to support customers - Fri, 17 Oct 2014
The boss of the Royal Bank of Scotland (RBS), Ross McEwan, has spoken about the banking industry and the effect that an interest rate rise could have on customers. McEwan has said that a lot of bank customers are worried about the interest rate rise, which is more

The housing market is bracing itself for the imminent interest rise - Fri, 10 Oct 2014
Housing market activity has dropped over the last year, according to reports. There was a decrease of 12 percent in market activity over the last 12 months to September, despite an increase in valuations. September was a good month for valuations, as they more

Mortgage survey highlights worries over possible interest rate rise - Fri, 03 Oct 2014
A fifth of mortgage holders in the UK would be unable to repay their mortgages, so says The Money Advice Service, if and when the expected interest rate rise occurs. The public advice body released the results of a survey inquiring into how people would cope more

Rules on second charge mortgages to be tightened - Fri, 26 Sep 2014
The Financial Conduct Authority (FCA) is set to tighten the rules on acquiring a second charge loan, otherwise known as a second mortgage. This somewhat niche financial product is used to borrow money secured against the equity you own of a property. more

Mortgage worries for an independent Scotland - Fri, 12 Sep 2014
The UK's eyes are going to be fixed on Scotland next week as they vote on whether to break away from the rest of the UK and become independent or to stay put.. One thing to consider is how mortgages will be affected. A successful vote to break away could make more

Fixed mortgage charges drop low - Fri, 05 Sep 2014
5 year fixed mortgage rates have dropped to their lowest level in months, finally dipping back below the 3% mark. The charges for 5 year fixed rate variables had slowly been climbing due to an expected rise in interest rates. However, this hasn't come about, more

Free cats for Russians getting a new mortgage - Fri, 29 Aug 2014
A Russian lender has created a great publicity stunt to convince people to get a mortgage with them by offering a free cat when you buy a mortgage product. Everyone loves cats, the internet has enough videos to prove that, and so why not use them to advertise? more

Bank of America fined for mortgage mis selling - Fri, 22 Aug 2014
The Bank of America is in trouble with regards to mis-selling mortgages. Breaking records, the bank has agreed to pay out $16.65 billion (£9.9 billion) in order to settle charges set against them as a result of their mortgage selling antics. The issues more

Repossession rates could rise in face of predicted interest rate rise - Fri, 15 Aug 2014
This year, the number of homes repossessed throughout the spring fell, according to figures by the Council of Mortgage Lenders (CML), but there are fears this will rise again in the face of rising interest rates. 5,400 homes were repossessed in the second more

Property sales apparently on the rise - Fri, 08 Aug 2014
Property sales hit a seven year high last month, according to the LSL House Price Index. Sales were up by 21% in July 2014 compare to the same time last year, and an increase in 10% from the June 2014, showing a sharp upward trend. This also makes it the more

New building society to help out families with mortgages - Fri, 01 Aug 2014
Building societies could be the ones picking up the slack when the second phase of the government's Help to Buy 2 Mortgage Guarantee scheme draws to an end in 2016. The Family Building Society based in Epsom has recently opened its doors for the first time. more

Think tank fears of rising interest rates - Fri, 25 Jul 2014
A report has warned of new housing market struggles that could be on the horizon. The Resolution Foundation aims to improve the living standards of the 15 million people in Britain on low and middle incomes, by doing research and bringing to light certain more

Mortgage lending dip in recovery - Wed, 23 Jul 2014
After the recent restrictions on mortgage lending, the rate at which applications were being passed dropped, but is now rising again. The British Banker's Association (BBA) approved 41,881 mortgages in May, but increased to 43,265 in June. This is still 13.5% more

Mortgage brokers call for regulation of 35 year mortgages - Fri, 18 Jul 2014
There have been fears of lengthening mortgage terms, with brokers urging regulators to crack down on the lengthening deals. It used to be that a 20-25 year mortgage term was the maximum that you were likely to encounter, however, mortgage brokers are now more

People over 40 suffering with mortgage refusals - Fri, 11 Jul 2014
Recent alterations to the mortgage market were expected to impact young people the most, especially first time buyers and those who will struggle to get together a deposit or prove that they are earning enough to keep up with the rate of inflation. It is now more

Figures Show the Curbs on Mortgage Lending - Fri, 04 Jul 2014
The Bank of England (BoE) have release figures indicating that the recent mortgage restrictions are now truly hindering the rate of mortgage approvals. So far this year May saw the lowest rate of mortgage approvals since June 2013. Approvals dropped from 62, more

Bank of England Announces Lending Limits - Fri, 27 Jun 2014
In an attempt to prevent irresponsible lending, the Bank of England will impose limits on how much people can borrow. On Thursday, the Bank announced the limits that would apparently make Britain the biggest economy to ever impose these kinds of restrictions. more

FPC Survey and Mortgage Predictions - Tue, 24 Jun 2014
Mortgage approvals are set to "fall significantly" in the coming quarter as banks aim to reduce the risks of lending, according to a survey by the Bank of England. The survey came just a few days before the Bank of England announces whether it will be more

Mortgages are Becoming Unaffordable - Fri, 06 Jun 2014
New research suggests that people are vastly underestimating the amount of money that a mortgage will cost, and that the average household does not have enough disposable income to spend on mortgage payments. According to the financial service Experian, the more

House Market Momentum Falling and New Mortgage Restrictions - Fri, 30 May 2014
Figures indicate that the housing market may be losing some momentum, as Britain's banks approved the lowest number of mortgages last month since August last year. Over the last year it has been reported that house prices have increased by ten per cent and more

FPC Expected to Work to Reduce House Prices - Fri, 16 May 2014
Experts predict that intervention by the Bank of England's Financial Policy Committee (FPC) will help to slow down the rapid pace of house price growth in the UK. Reuters carried out a poll of 30 property analysts and they found that a significant amount feel more

Ex Chancellors of the Exchequer Warn of Help to Buy Danger - Fri, 09 May 2014
Controversy has risen once again over the Help to Buy scheme, as past Chancellors have spoken out against Osborne's Help to Buy scheme. Alistair Darling, Lord Lamont and Lord Lawson, all of whom are Osborne's predecessors, have all spoken out, worried at the more

New Lending Guidelines Come into Play - Fri, 25 Apr 2014
We reported at the beginning of March that mortgages would likely become a lot harder to be granted because of new lending guidelines that are to crack down on irresponsible lending by banks and other lenders. These measures are now coming into play, and more

New CML Figures on the Housing Crisis - Fri, 11 Apr 2014
The Council of Mortgage Lenders have released new figures indicating how hard it is for first time buyers to get on the property ladder, judging by the typical mortgage size of February. With the average salary coming in at £26,500, it is going to be more

New Pension Allowances Could Save Interest Only Borrowers - Fri, 04 Apr 2014
Experts believe that the April budget announcement will boost mortgage payments as people can now access their pension pots all in one go. Interest-only borrowers in particular may be able to use this new freedom to their advantage and pay off the capital in more

Fixed Rate Mortgages get a Popularity Boost - Fri, 28 Mar 2014
Fixed rate mortgages are on the rise as an unprecedented number of house buyers opt for fixed rates over variable rates. 19 out of 20 borrowers chose a fixed mortgage rate in February, according to the Mortgage Advice Bureau, a new record that exceeded the more

Mortgage Market is Strengthening - Fri, 21 Mar 2014
The mortgage lending market has hit its highest point since 2008, having lent a reported £15.2bn in February, which was an increase of 43% from February 2013, so say the Council of Mortgage Lenders (CML). This is a strong figure for this time of year, more

First Time Buyer Numbers are on the Rise - Fri, 14 Mar 2014
The number of first-time buyers is on the rise, with a 38% rise in the amount of first-time buyers over the last 12 months. However, this may lead to a housing bubble, experts fear. The increasing amount of mortgages acquired by first-time buyers has led to more

New Lending Guidelines Could Stump the Housing Recovery - Fri, 07 Mar 2014
From April, new "affordability rules" are coming into play which could majorly boost the amount of mortgage rejections. New guidelines by the City regulator as a consequence of the Mortgage Market Review will see lenders looking into the incomings and more

UK mortgage approvals at highest since September 2007 - Tue, 25 Feb 2014
British banks approved more mortgages in January than any other month since September 2007. New data from the British Bankers' Association (BBA) said mortgages for home purchases reached 49,972 in January, nearly 3,000 more than December's total of 47,086, more

Households must prepare for interest rate rise - Tue, 18 Feb 2014
While many households have saved a fortune on their mortgage due to low interest rates in the last few years, things may be about to change. David Miles, a member of the central bank's Monetary Policy Committee (MPC), warned borrowers and lenders to prepare more

Lending for first time buyers up in December - Fri, 14 Feb 2014
The number of first-time buyers taking out loans continued to grow in December 2013, rising by 37 per cent compared with the same period of the previous year. According to new data from the Council of Mortgage Lenders (CML), the UK property market continued more