Mortgages

Mortgage and the Middle Class

Many middle class families are suffering from the credit crunch. They are having to take on second jobs just to pay for their bills. Earnings of 30,000 a year are not keeping up with the basics. (more…)

Sub-prime Borrowers

Sub- prime borrowers are not always the poorest individuals in society. These individuals are those who usually have country court judgements or other arrears on their credit history.

Most of these individuals are back on track with their jobs and payments. They just needed to have a helping hand when they first began buying their home. The bad credit history has made it difficult for them to get a cheap loan as they were considered higher risk. This meant they could be more vulnerable to certain instances. (more…)

Difficulties Ahead

Many of the economists and mortgage brokers are foretelling of more troubles ahead. Mr. Bougler is just one of the individuals who believes we are headed for more rough patches. He believes the only thing that may improve the situation is a return of the investors. (more…)

Hard Times Coming in Mortgages

When you view the information offered regarding the current mortgages and the changes occurring in the industry you can tell that we have yet to see the real problem. Many of the families in the UK are struggling to pay for their daily needs let alone homes. (more…)

Interest Rates

Mortgage lenders are making it more difficult for those who don’t have any savings to get a loan. Many of the mortgages currently available are not offering a rate lower than 7.24 percent on a down payment of 5 percent. In other words unless you increase the down payment your mortgage interest rate will be at least 2 percent higher than the Bank of England rate. (more…)

Biggest Lenders Surveyed

The Bank of England performs a regular survey of the country’s biggest lenders. This survey was published April 7. In the survey information showed that the mortgage issues would continue to get more serious over the next three months. (more…)

 South East Homes 

The average home for most of the UK is 196,000 at the moment. However in the South East homes have been selling for 400,000 pounds. If the projections are correct they stand to lose a significant amount of value in their homes. In fact these 400,000 pound homes could be worth 280,000 pounds with a crash. In the South East homes began at 96,000 pounds in 1996, and have steadily risen over the ten year period. (more…)

Bank of England Cutting Rates

The Bank of England is expected to cut rates again by .25 percent. The interest rate is already at 5.25 percent, but the current issues with the mortgage industry may have these rates lowered yet again. Experts do not believe that the rate cut is going to make a lot of difference to the lenders. (more…)

In a recent news release bank chiefs have warned that housing prices could crash. Housing prices are seen as too high for the market by 30 percent. For homes that are in that higher mark the prices could crash according to Monetary Fund. There has been a decade long housing boom in the UK. (more…)