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....Dimon’s comments are an open invitation for derision from those who, rightly, point out that although JP Morgan may be top of the Wall Street heap, that heap is far from being the moral high ground. Under Dimon’s leadership, it has agreed a $13bn settlement with US regulators over selling dodgy mortgage securities – the instruments behind the credit crunch – and its run-ins with watchdogs include a $264m fine last year for hiring the children of Chinese officials in order to win lucrative business in return. ... [Read full article on Guardian ]
Sunday 17th of September 2017 05:59:33 AM
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....com is a business founded on the premise of allowing customers to buy their phones and sim cards separately. Its CEO, John Whittle, says the cost of using mobile phones are decreasing, so fixing repayments into a 24-month contract is like getting a fixed-interest mortgage when you know rates are going to fall. ... [Read full article on Guardian ]
Monday 18th of September 2017 06:00:02 AM
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.... Chaired by Sir Roger Gifford, former lord mayor of London, the taskforce will look at measures to make the UK’s planned investments in infrastructure, for instance on energy and transport, more environmentally sustainable. The government also wants to give investors assurances about how their money is being looked after, and promote ways for consumers to benefit, for instance through green mortgages, which make borrowing cheaper for those who have insulated their homes. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:28:07 PM
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....Millennials are spending three times more of their income on housing than their grandparents yet are often living in worse accommodation, says a study launched by former Conservative minister David Willetts that warns of a “housing catastrophe”. The generation currently aged 18-36 are typically spending over a third of their post-tax income on rent or about 12% on mortgages, compared with 5%-10% of income spent by their grandparents in the 1960s and 1970s. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 11:01:30 PM
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....As a result, the government took steps to encourage banks to lend and people to borrow. The Funding for Lending Scheme provided incentives for lenders to make credit available for mortgages and business loans, while help to buy provided state subsidies for those trying to get a foot on the housing ladder. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:26:02 PM
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....Raising the cost of borrowing would reverse the emergency rate cut introduced by Carney in August 2016 in the wake of the Brexit referendum. It would also raise the cost of mortgages for the first time for millions of homebuyers who have never experienced a rise in their monthly repayments as a result of a rate change. ... [Read full article on Guardian ]
Thursday 14th of September 2017 01:24:03 PM
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.... We are hoping to move sometime after summer next year. Do you think we have any chance of a joint mortgage with this default being so recent? I don’t want to risk tarnishing our credit files further. ... [Read full article on Guardian ]
Monday 18th of September 2017 10:18:59 AM
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. The controversial property mogul Christian Candy, whose luxury developments attracted some of the highest prices ever paid for London real estate, has sold and mortgaged assets worth an estimated £340m in less than a year. ... [Read full article on Guardian ]
Saturday 16th of September 2017 07:00:05 AM
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.... It would be the first increase in interest rates since July 2007,. The BIS is concerned that in countries with a large amount of variable-rate mortgages, rising borrowing costs would eat into household budgets more directly and rapidly, which would result in a slowdown in consumer spending. ... [Read full article on Guardian ]
Sunday 17th of September 2017 04:00:45 PM
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.... Gertjan Vlieghe put forward the arguments for a rise in rates “as early as in the coming months” in a speech to economists in London. It would mean higher monthly bills for millions of people with variable rate and base rate tracker mortgages. ... [Read full article on Guardian ]
Friday 15th of September 2017 01:28:16 PM
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....25 per cent by the end of net year, as the economy picks up speed. This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. ... [Read full article on Daily Express ]
Saturday 16th of September 2017 03:49:00 PM
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.... Yes, it is probably true that the Rock was not insolvent, just suffering an extreme liquidity crisis. After all, the Treasury is set to make a clear profit from the run-off of the mortgage book. ... [Read full article on Guardian ]
Thursday 14th of September 2017 01:58:12 PM
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.... There are also more than £1. 3tn of mortgages in the UK, and although more than half are on fixed rates, this would be the first time many homeowners have faced higher borrowing costs. ... [Read full article on Guardian ]
Sunday 17th of September 2017 01:38:31 PM
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.... She says that is far more than she ever borrowed, as interest charges far outstrip the original debts. “I can’t move on with life until I’m about 62, when it’s too late to get a mortgage and start afresh. ... [Read full article on Guardian ]
Monday 18th of September 2017 05:27:02 PM
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....Remortgaging to a cheaper deal can save you thousands of pounds a year and fix your borrowing costs at a low rate for two, five or even 10 years. Now could be the perfect time to see if you could get a better deal on any remaining mortgage debt, with big potential savings for those paying over the odds on their lender’s standard variable rate (SVR). ... [Read full article on Daily Express ]
Sunday 17th of September 2017 12:34:00 PM
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....Equity release is booming, with older people withdrawing almost £8m a day from their homes, it emerged this week. And there are more schemes than ever available to over-55s looking to unlock the value tied up in their property so they can, for example, pay off their interest-only mortgage. ... [Read full article on Guardian ]
Saturday 16th of September 2017 06:00:04 AM
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Latest Finance News related to Mortgage

Millennials spend three times more of income on housing than grandparents image
Source : Guardian [Read Article] Tuesday 19th of September 2017 11:01:30 PM
....Millennials are spending three times more of their income on housing than their grandparents yet are often living in worse accommodation, says a study launched by former Conservative minister David Willetts that warns of a “housing catastrophe”. The generation currently aged 18-36 are typically spending over a third of their post-tax income on rent or about 12% on mortgages, compared with 5%-10% of income spent by their grandparents in the 1960s and 1970s. ...
Ministers launch group to help boost green business investment image
Source : Guardian [Read Article] Monday 18th of September 2017 05:28:07 PM
.... Chaired by Sir Roger Gifford, former lord mayor of London, the taskforce will look at measures to make the UK’s planned investments in infrastructure, for instance on energy and transport, more environmentally sustainable. The government also wants to give investors assurances about how their money is being looked after, and promote ways for consumers to benefit, for instance through green mortgages, which make borrowing cheaper for those who have insulated their homes. ...
'They just kept topping it up' – how one credit card user fell £28,000 in debt image
.... She says that is far more than she ever borrowed, as interest charges far outstrip the original debts. “I can’t move on with life until I’m about 62, when it’s too late to get a mortgage and start afresh. ...
UK debt is explosive – and it only needs a spark to light the fuse | Larry Elliott image
....As a result, the government took steps to encourage banks to lend and people to borrow. The Funding for Lending Scheme provided incentives for lenders to make credit available for mortgages and business loans, while help to buy provided state subsidies for those trying to get a foot on the housing ladder. ...
How bad is a credit record default for a mortgage application? image
Source : Guardian [Read Article] Monday 18th of September 2017 10:18:59 AM
.... We are hoping to move sometime after summer next year. Do you think we have any chance of a joint mortgage with this default being so recent? I don’t want to risk tarnishing our credit files further. ...
Launch of iPhone X is a reminder of the perils of paying monthly for your mobile image
....com is a business founded on the premise of allowing customers to buy their phones and sim cards separately. Its CEO, John Whittle, says the cost of using mobile phones are decreasing, so fixing repayments into a 24-month contract is like getting a fixed-interest mortgage when you know rates are going to fall. ...
Growing risk of 'debt trap' if interest rates stay low, say central bankers image
Source : Guardian [Read Article] Sunday 17th of September 2017 04:00:45 PM
.... It would be the first increase in interest rates since July 2007,. The BIS is concerned that in countries with a large amount of variable-rate mortgages, rising borrowing costs would eat into household budgets more directly and rapidly, which would result in a slowdown in consumer spending. ...
How to find the best remortgage rates and beat the rise image
Source : Daily Express [Read Article] Sunday 17th of September 2017 12:34:00 PM
....Remortgaging to a cheaper deal can save you thousands of pounds a year and fix your borrowing costs at a low rate for two, five or even 10 years. Now could be the perfect time to see if you could get a better deal on any remaining mortgage debt, with big potential savings for those paying over the odds on their lender’s standard variable rate (SVR). ...
Don’t dismiss bankers' predictions of a bitcoin bubble – they should know image
....Dimon’s comments are an open invitation for derision from those who, rightly, point out that although JP Morgan may be top of the Wall Street heap, that heap is far from being the moral high ground. Under Dimon’s leadership, it has agreed a $13bn settlement with US regulators over selling dodgy mortgage securities – the instruments behind the credit crunch – and its run-ins with watchdogs include a $264m fine last year for hiring the children of Chinese officials in order to win lucrative business in return. ...
Mortgage alert: Interest rates will rise FOUR times by end of 2018, economists forecast  image
....25 per cent by the end of net year, as the economy picks up speed. This could likely mean a dramatic increase in the cost of debt repayments, including mortgages and credit cards. ...
Christian Candy reshuffles assets worth more than £300m in a year image
Source : Guardian [Read Article] Saturday 16th of September 2017 07:00:05 AM
. The controversial property mogul Christian Candy, whose luxury developments attracted some of the highest prices ever paid for London real estate, has sold and mortgaged assets worth an estimated £340m in less than a year. ...
Over-55s take out £8m a day from their homes image
Source : Guardian [Read Article] Saturday 16th of September 2017 06:00:04 AM
....Equity release is booming, with older people withdrawing almost £8m a day from their homes, it emerged this week. And there are more schemes than ever available to over-55s looking to unlock the value tied up in their property so they can, for example, pay off their interest-only mortgage. ...
Mortgage warning: YOUR bill could SURGE by £750 when interest rates increase, experts say image
. Homeowners will see mortgage repayments rise by an average £750 if the base rate is lifted from 0. ...
UK interest rate rise – what it could mean for savers and mortgage holders image
.... Gertjan Vlieghe put forward the arguments for a rise in rates “as early as in the coming months” in a speech to economists in London. It would mean higher monthly bills for millions of people with variable rate and base rate tracker mortgages. ...
Northern Rock investors' compensation claim just doesn't stand up | Nils Pratley image
.... Yes, it is probably true that the Rock was not insolvent, just suffering an extreme liquidity crisis. After all, the Treasury is set to make a clear profit from the run-off of the mortgage book. ...
UK interest rates stay at 0.25% but Bank of England hints rise is looming image
Source : Guardian [Read Article] Thursday 14th of September 2017 01:24:03 PM
....Raising the cost of borrowing would reverse the emergency rate cut introduced by Carney in August 2016 in the wake of the Brexit referendum. It would also raise the cost of mortgages for the first time for millions of homebuyers who have never experienced a rise in their monthly repayments as a result of a rate change. ...
Former Northern Rock investors ask Theresa May for compensation image
Source : Guardian [Read Article] Thursday 14th of September 2017 10:33:38 AM
....The group he leads has continue to work on their claim despite a decision by the European court of justice in 2012 to dismiss their argument that they were entitled to a payout. Part of Northern Rock was sold to Virgin Money in 2012 and since then other mortgages have been sold off and parts of the business managed alongside the mortgage book of Bradford & Bingley. ...
UK cost-of-living crisis grows as dearer imports push inflation to 2.9% image
Source : Guardian [Read Article] Tuesday 12th of September 2017 09:36:14 AM
....As a rule of thumb, times of high inflation are good for borrowers and bad for investors. Mortgages are a good example of how borrowing can be advantageous - annual inflation of 10% over seven years halves the real value of a mortgage. ...
When is the right time to buy a property? image
Source : Guardian [Read Article] Monday 11th of September 2017 01:45:29 PM
.... But what if you don’t change towns at the end of your current contract? Will you kick yourself for not having bought? If there is a high chance you’ll be staying put, there could be a good reason for coming up with a compromise solution. Instead of using all your invested assets to buy a home, you could use only as much as you need to put down as a deposit to get an affordable mortgage for the rest of the purchase price. ...
UK prices rising faster than wages as forecasters predict inflation at 2.8% image
Source : Guardian [Read Article] Monday 11th of September 2017 05:01:04 AM
....As a rule of thumb, times of high inflation are good for borrowers and bad for investors. Mortgages are a good example of how borrowing can be advantageous - annual inflation of 10% over seven years halves the real value of a mortgage. ...
Major players in the Northern Rock saga unlikely to stage reunion image
Source : Guardian [Read Article] Sunday 10th of September 2017 05:59:29 AM
.... The dramatis personae of that dark chapter of British economic history are unlikely to stage a reunion, so it falls to others to run through where they are now. Adam Applegarth, the former chief executive whose strategy involved pumping out 125% loan-to-value mortgages, runs a small property business and turns out for Sunderland Cricket Club 2nd XI in his spare time, boasting a batting average of 28. ...
Personal finance: Britons keeping calm and carrying on despite Brexit image
Source : Daily Express [Read Article] Sunday 10th of September 2017 12:01:00 AM
.... . Russell Galley, managing director of Halifax Community Bank, says buoyancy is returning helped by strong recent jobs growth, which has seen unemployment fall to a 42-year low: “House prices should continue to be supported by low mortgage rates and a continuing shortage of homes for sale. ...
Monzo? It might just be the future of banking image
Source : Guardian [Read Article] Saturday 9th of September 2017 06:00:00 AM
.... There are no set-up or usage fees, and there are zero charges for spending abroad. But there are no branches and no mortgages or savings accounts – just a prepaid MasterCard. ...
House prices hit record high as market shakes off Brexit doom-mongers image
Source : Daily Express [Read Article] Thursday 7th of September 2017 08:54:00 AM
....Price rises are likely to continue until the end of 2017, according to critics. Russell Galley, managing Director, Halifax Community Bank, said: “Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42 year low. ...
UK house prices rising amid shortage of properties, says Halifax image
Source : Guardian [Read Article] Thursday 7th of September 2017 08:42:06 AM
. UK house price growth unexpectedly picked up last month, underpinned by strong employment growth and a shortage of properties on the market, according to Britain’s biggest mortgage lender. ...
Government should cut Bank of Ireland out of Post Office bank, says report image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....The government should cut the Bank of Ireland out of the Post Office network and establish a state-run Post Bank, using it to boost services to small firms and rural communities, a new report argues. Ending the partnership – which offers savings, credit cards and mortgages through the Post Office brand – and buying the Dublin-based bank’s Post Office assets would cost up to £2bn, according to research from Cass Business School on behalf of the Communication Workers Union. ...
Theresa May under growing pressure to lift public sector pay cap image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....Nurses in the crowd, from those just starting out to others with more experience, told how they were struggling to cope at work because of staff shortages, and at home because of the pay restraint. Billy Nichols, a nurse of 25 years who works at Wrexham Maelor hospital, said:“My disposable income has dropped over the last seven years so it’s a struggle to pay bills, pay the mortgage. ...
Help-to-buy scheme aids some buyers, but boosts builders even more | Nils Pratley image
.... Yes, the scheme has allowed some people to buy homes who would not otherwise have been able to do so, but the clearest beneficiaries of the stimulus to prices have been housebuilders’ shareholders and executives. Back in 2013, one justification was the limp state of the mortgage market. ...
UK construction 'flirting with recession' as Brexit uncertainty bites image
Source : Guardian [Read Article] Monday 4th of September 2017 10:14:41 AM
.... The overall UK annual increase is about 5% in the first half of the year. However, there is support for house prices from low levels of unemployment – at the lowest point since the mid 1970s – and from rockbottom interest rates keeping mortgage costs low. ...
Can I buy a house for my mum to live in rent-free? image
Source : Guardian [Read Article] Monday 4th of September 2017 09:26:14 AM
.... I rent and work in London and am fortunate enough to be on a fairly good income. My mum, however, is struggling, so two years ago I started covering her mortgage payments. ...
We’re addicted to debt and headed for a crash. It could be worse than 2007 | Zoe Williams image
....7bn in share value a little over a week ago, a handful of people asked whether this was a Northern Rock moment. The Provident extends high-interest loans to low-income people, and as such could be seen as a bellwether in the manner of a sub-prime mortgage company, the first to go under when debt becomes unbearable, the signal that credit is, once again, about to crunch. ...
UK consumers' concerns about inflation 'are highest in three and a half years' image
.... Fewer people also believed that they would be paying off more debt in six months’ time, with the balance dropping to 15% from 20%. Analysis by Lloyds of its customer account data suggests that people are cutting back spending on essentials such as rent, mortgage payments, utility bills, food and fuel. ...
Theresa May urged to force councils to build more homes image
Source : Guardian [Read Article] Sunday 3rd of September 2017 02:06:15 PM
....Successive governments have sought to make property ownership more affordable. Ambitious building targets have rarely been met, and George Osborne’s focus on subsidising mortgages through the help-to-buy scheme was criticised for fuelling the boom. ...
A £7,600-plus service charge on my flat above a shop is bankrupting me image
Source : Guardian [Read Article] Friday 1st of September 2017 12:17:45 PM
.... That was the claim this week from Mary-Anne Thompson, who has seen the annual service charge on her London flat rocket from around £500 to more than £7,600. She claims the £640 a month she has been asked to pay is “extortionate” and represents a sizeable chunk of her monthly income, adding: “It’s more than my mortgage. ...
Bank of England policymaker urges interest rate rise image
Source : Guardian [Read Article] Thursday 31st of August 2017 08:05:11 AM
.... Banks have much stronger capital positions. “A sizeable net balance of consumers, especially those with a mortgage, already expect interest rates to rise in the year ahead and hence have presumably incorporated this in spending decisions. ...
House prices to stay strong as cheap mortgage rates help lending hit nine-year high  image
Source : Daily Express [Read Article] Wednesday 30th of August 2017 02:57:00 PM
....People taking the first step on the property ladder have also been able to fill a gap left by landlords and second-home investors who, since last year, have to pay extra stamp duty on purchases. Alastair McKee, managing director of mortgage broker, One 77 Mortgages, said: "What is encouraging is that new mortgage approvals are not tailing off but putting in a surprisingly upbeat performance in the face of some pretty intimidating headwinds. ...
Rapid rise in personal borrowing is cooling, says Bank of England image
Source : Guardian [Read Article] Wednesday 30th of August 2017 11:19:35 AM
....”. The figures from Threadneedle Street also show lenders approved 68,689 mortgages last month compared with 65,318 in June, returning to levels seen earlier this year. ...
Arnold Schwarzenegger joins call to act over mis-sold PPI before deadline image
Source : Daily Express [Read Article] Wednesday 30th of August 2017 09:55:00 AM
....The claims deadline will bring an end to the UK's biggest-ever financial mis-selling scandal that has cost banks and building societies tens of billions. PPI was sold alongside loans, credit cards, store cards and mortgages, with up to 64 million policies sold to around 30 million people between 1990 and 2010. ...
​Some might pray for a house price crash, but be careful what you wish for | Patrick Collinson image
....It is memories of the early 1990s that should restrain anyone’s glee at the prospect of a property crash. Many of those who had taken out big mortgages could no longer afford the repayments. ...
Does the help-to-buy scheme really offer the best rates? image
Source : Guardian [Read Article] Tuesday 29th of August 2017 01:26:11 PM
.... Is this true? MS. A No – quite the reverse judging by the mortgage lenders I’ve looked at. ...
House price fall renews concern over cooling UK economy image
Source : Guardian [Read Article] Tuesday 29th of August 2017 07:15:43 AM
....He noted that economic growth had halved from last year to about 0. 3% per quarter in the first half of this year and that the number of mortgages approved for house purchase hit a nine-month low in June, while surveyors had reported softening in the number of new buyer inquiries. ...
A single issue with Halifax: please accept both my names image
Source : Guardian [Read Article] Monday 28th of August 2017 06:00:26 AM
....Even if I were to start billing in my married name (which I would rather avoid, as it could become confusing for clients), I am still receiving cheques for work I did last year – before I married. This is relatively urgent as I do not have another source of income – our mortgage payments (to Halifax!) depend on getting this sorted out. ...
Going up or digging deep, how to finance a home extension image
Source : Guardian [Read Article] Saturday 26th of August 2017 05:59:28 AM
....Growing numbers of homeowners are building upwards or digging down to create more space because they can’t afford to move to a bigger property. But what are the options for financing this work? Should you remortgage, ask to borrow more from your existing lender or take out a personal loan?. ...
Janet Yellen rebukes Trump over plan to lift financial regulations image
Source : Guardian [Read Article] Friday 25th of August 2017 04:00:14 PM
....The Treasury secretary, Steve Mnuchin, a former Goldman Sachs banker, has said a sustainable growth rate above 3% a year can be achieved once banks are relieved of the shackles imposed on them by Dodd-Frank. In June, he proposed reducing the powers of the main consumer watchdog, the Consumer Financial Protection Bureau, weakening the Fed’s oversight of large financial institutions and looser mortgage lending rules. ...
The miserable reason behind millennials' slow march to the suburbs | Jamie Peck image
....) While I’d love to claim some kind of unique moral depravity or punk rock iconoclasm for my generation, there’s simply no evidence to support it. What the evidence does support is that millennials want the same things as our baby boomer parents, it’s just taking us longer to get them due to a flagging economy, crushing student loan debts, and the difficulty of getting a mortgage in the years directly following the financial crisis. ...
How to reclaim mis-sold PPI for free image
Source : Guardian [Read Article] Friday 25th of August 2017 10:21:29 AM
.... There is no need to use a claims handling company that will rake off 30% of any compensation you are awarded. If you took out any kind of consumer loan, store card, credit card or mortgage in the 1990s or 2000s, you may have been mis-sold PPI. ...
Slowdown in London house price growth ebbs as Bristol sees steep fall image
Source : Guardian [Read Article] Thursday 24th of August 2017 11:01:33 PM
....Mortgage approvals from British banks hit a five-month high in July, according to data published on Friday from the trade body UK Finance. Lenders approved 41,587 mortgages for house purchases last month, up from 40,385 in June and 9% higher than July a year ago, the month that followed the Brexit vote. ...
£1bn dent in cash Isas as household budgets pressure lowers saving and spending  image
Source : Daily Express [Read Article] Thursday 24th of August 2017 03:43:00 PM
...." . Meanwhile, the number of mortgage approvals for house purchase, at 41,587, was 9 per cent higher in July than a year earlier, reflecting a slow period around last year's EU referendum, UK Finance said. ...
Your savings, your mortgage and your job depend on THESE bankers meeting in Wyoming today image
.... Policymakers are facing the perilous task of trying to roll back their experimental policies without creating panic, but it's not easy. Former foreign secretary William Hague is adamant the little-known meeting is a cornerstone of the global economy and said: “What they say can instantly send stock and bond markets soaring or crashing, and what they do can change the price of everyone’s mortgage and, ultimately, determine the job prospects of vast numbers of people. ...
What are your experiences of the housing market as a BME person? image
Source : Guardian [Read Article] Wednesday 23rd of August 2017 02:33:27 PM
. House prices are still going up around the UK, and despite low mortgage rates increasing numbers of people are locked out of the property market. ...
First-time buyers on the rise as tax charges deter buy-to-let investors image
Source : Daily Express [Read Article] Wednesday 23rd of August 2017 09:35:00 AM
.... . They took out 36,000 mortgages in June, a rise of more than one fifth on May and the highest level since November 2006. ...
Going underground: number of Britons digging basements soars image
Source : Guardian [Read Article] Wednesday 23rd of August 2017 05:01:05 AM
....Britain has seen a 183% increase in planning applications for basement extensions, as homeowners barred from climbing the housing ladder by high prices decide to burrow down instead. The number of loft conversions has also risen dramatically, according to mortgage lender Halifax, in a bid to circumvent a soaring property market. ...
Identity fraud reaching epidemic levels, new figures show image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:01:34 PM
.... Some customers have lost considerable sums after being duped into sending money to the bank accounts of criminals. In many cases, victims do not even realise they have been targeted until a bill arrives for something they did not buy, or they experience problems with their credit rating when applying for a mortgage or loan. ...
House prices: Northants leads Midlands 'mini-boom', says Rightmove image
Source : Guardian [Read Article] Monday 21st of August 2017 05:01:02 AM
....Despite concerns about Brexit and the economy, house prices have continued to increase, though at a slower pace than in recent years. The market has been supported by a lack of supply and ultra-low interest rates, though the Bank of England has warned lenders about loose mortgage lending. ...
Getting to grips with a £32,220 student debt – and how you can lighten the load image
....Many graduates will look to begin saving for their first home after starting work. In principle, student loan debt shouldn’t impact on the ability to get a mortgage as these loans do not appear on credit reports, so they won’t affect the score when a lender is assessing suitability for a mortgage. ...
Travel insurance: Guide to find the best policy for older holidaymakers image
Source : Daily Express [Read Article] Sunday 20th of August 2017 12:01:00 AM
.... . Garry Nelson, director at AllClear, said: “The stark reality is that a medical emergency abroad can cost as much as a typical mortgage. ...
Here’s help to decide which of two Isas is the best to buy into image
Source : Guardian [Read Article] Saturday 19th of August 2017 06:00:06 AM
.... The money has to be used to buy a home up to the value of £250,000 outside London, or up to £450,000 in the capital. Savers can only access the bonus by instructing a solicitor or conveyancer during the house-buying process, with the bonus added to the mortgage and funds used to pay for a property transaction. ...
Pound falls against dollar as inflation comes in lower than expected image
Source : Guardian [Read Article] Tuesday 15th of August 2017 05:10:12 PM
....As a rule of thumb, times of high inflation are good for borrowers and bad for investors. Mortgages are a good example of how borrowing can be advantageous - annual inflation of 10% over seven years halves the real value of a mortgage. ...
REVEALED: House price hotspots - areas where values are BOOMING one year after Brexit vote image
.... . House prices are forecast to continue rising, amid record low supply while mortgage rates remain low. ...
Rail users face steepest fare rise in five years as inflation hits 3.6% image
Source : Guardian [Read Article] Tuesday 15th of August 2017 08:32:02 AM
....As a rule of thumb, times of high inflation are good for borrowers and bad for investors. Mortgages are a good example of how borrowing can be advantageous - annual inflation of 10% over seven years halves the real value of a mortgage. ...
World's biggest banks face £264bn bill for poor conduct image
Source : Guardian [Read Article] Monday 14th of August 2017 05:28:32 PM
....RBS set aside extra provisions for fines and legal costs largely related to a forthcoming penalty from the US Department of Justice for mis-selling toxic bonds in the run-up to the financial crisis. That residential mortgage bond securitisation mis-selling scandal is responsible for £66bn of the costs incurred during the five-year period and the single largest factor, according to the foundation. ...
Mortgage rates are rising and time is running out to fix prices, borrowers told image
. The average two-year fixed rate home loan for remortgage customers is 2. ...
Telit Communications chief fired after fraud allegations image
Source : Guardian [Read Article] Monday 14th of August 2017 11:30:14 AM
.... The shares had been changing hands at more than 250p before a profit warning and the revelation of the identity allegations last week. Cats is alleged to have fled the US in 1991 or 1992 after he was accused of being involved in a scheme of buying and quickly reselling properties (flipping) to take out mortgages with escalated value. ...
The UK debt tide is rising – how can you avoid drowning? image
Source : Guardian [Read Article] Monday 14th of August 2017 06:00:35 AM
....StepChange suggests making a budget to give a clear picture of what money is coming in and going out so that you can then understand what repayments are possible to work down debts. “It’s crucial that you make sure before putting money to repaying debts that you have allocated money in your budget for your essential living costs (food, clothing, travel and so on) and what are called priority bills – these are things like mortgage/rent, gas, electricity bills and council tax,” said a guide from the charity. ...
New pension research: Is this really a golden era for retirement? image
Source : Daily Express [Read Article] Sunday 13th of August 2017 10:29:00 AM
....” . Crucially, the ONS figures do not include housing costs, which have risen sharply, leaving those still renting or paying off a mortgage in retirement notably worse off than homeowners who have cleared their debt. ...
Boom or bust: what’s the truth about UK house prices? image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:48 PM
....Britain’s housing market has hit the buffers as political uncertainty, stamp duty changes and squeezed household incomes all dampen buyer demand. Over the past week, Britain’s biggest mortgage lender, Halifax, said that annual house price growth had slowed to the weakest rate in four years and the official surveyors’ body said that activity was back to 2011 levels in some parts of the UK. ...
A tale of two housing markets: booming Burnley and stagnant Kensington image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:48 PM
.... “They go from £110,000 up to £160,000. For that you would expect mortgage repayments of around £550 a month, but to rent you are looking at £700 a month for the same property. ...
Have we gone too far in vilifying landlords? | Patrick Collinson image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
.... This gave the green light to banks and building societies to enter the market, safe in the knowledge that they could get possession of a property if the borrower defaulted, with no pesky sitting tenants in the way. The buy-to-let mortgage was born. ...
Should homeowners warm to EDF Energy’s free solar panel system? image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
....Robin Melvin, head of innovation at EDF, says about 50 households have signed up for the trial and that he is looking for another 50 to join, at which point its success will be evaluated. He says users should not have a problem with their mortgage company – previously an issue with free solar installations – as the package is compliant with Council of Mortgage Lenders guidelines and big lenders are on board with the deal. ...
Nationwide sounds note of caution over lending in run-up to Brexit image
Source : Guardian [Read Article] Friday 11th of August 2017 04:06:30 PM
.... He did not foresee any major changes to its approach to lending. The society was one of the first to tighten its criteria for buy-to-let mortgages 18 months ago. ...
Living costs rising twice as fast as inflation, new figures reveal image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 10:50:00 AM
....6 per cent in the year to June. Rising house prices are forcing people to take larger mortgages and pushing up costs despite low interest rates, while rents are also rising. ...
‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing image
....2 billion more than in 2015. Andrew Mason, Lloyds Bank mortgage products director, said: "“Rising house prices have caused stamp duty payments to continue to increase despite the reforms that came into effect from December 2014. ...
Buy-to-let landlords: Five top tips that could save you THOUSANDS image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 08:30:00 AM
Alistair Darling: 'RBS said it would run out of money in early afternoon' image
Source : Guardian [Read Article] Wednesday 9th of August 2017 07:59:03 AM
....“In a few years’ time, when institutional memories start to fade and the people around have all gone and retired, then that’s where the risk occurs,” he said. Wednesday marks the 10th anniversary of the decision by BNP Paribas to suspend three of its funds with major exposure to bonds backed by US sub-prime mortgages. ...
We let the 2007 financial crisis go to waste | Torsten Bell image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:00:01 AM
Mortgage rates will rise – so 
are you ready 
to take a hit? image
Source : Guardian [Read Article] Tuesday 8th of August 2017 04:52:17 PM
.... Mark Carney, the governor of the Bank of England said they were likely to rise by more than the markets are expecting. In the latest forecast from the National Institute of Economic and Social Research (NIESR), the thinktank revised its predictions for a hike to the first three months of next year, instead of in 2019 – accelerating the likelihood that mortgage holders will soon be facing higher bills. ...

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