Building society follows RBS and NatWest’s lead, as mortgage and house price figures paint a picture of stabilityCoventry Building Society has become the latest lender to stop offering interest-only mortgages to borrowers, hot on the heels of RBS and N…
Posts Categorized: Business
Halifax Home Finder – consumer app of the week
A property search, house prices and mortgage rates all in one place – is this the ultimate homebuying/snooping app?App: Halifax Home FinderBy: The app was built by design company Grapple (which we wrote about here)Price: FreeAvailable on: iOS 4.0 or …
House prices falling steeply, says Royal Institution of Chartered Surveyors
Downward slide evidence of faltering economic confidence, says group, but London house prices experiencing a ‘mini-boom’The early 2012 rebound in the housing market has run out of steam, according to Britain’s surveyors, who have reported price decline…
House prices take a tumble in April 2012
House prices fall 2.4% in April as Halifax warns of ‘challenging’ times ahead • House prices: what do the different indices show?House prices fell in April at their fastest rate for 20 months according to Halifax, knocking nearly £4,000 off the valu…
Mortgage lending up 20% in February
Rise in first-time buyer numbers behind overall increase in lending for house purchases, CML figures suggestMortgage lending for house purchases was up by 20% year-on-year in February, but lenders said the increase may have been fuelled by changes to s…
Governments should help with mortgages to avoid prolonged slump
Rapid buildup of household debt during boom leads to deeper downturn when bubble bursts, World Economic Outlook arguesGovernments should step in to help struggling households write off part of their mortgages in the wake of a financial crisis to avoid …
Preventing another housing bubble must be Bank of England’s priority
Three boom-busts in 40 years are testimony to the failure of trying to control the housing market through interest rates aloneEaster is traditionally when the housing market comes out of hibernation – and if ever there were a time when it might be im…
Co-operative raises mortgage costs for 54,000 borrowers
Bank joins Halifax, Bank of Ireland and Clydesdale and Yorkshire banks in raising its standard variable rate, which will rise to 4.74% in MayThe Co-operative Bank has become the latest lender to increase the standard variable rate (SVR) it charges mort…
Mortgage borrowers face triple whammy, warns Bank of England
Lenders expect to reduce the amount of credit given to households, tighten lending criteria – and charge more for the loans, says Bank reportLenders expect to reduce the amount of credit they give to households in the second quarter of the year in a …
Nationwide tightens up on interest-only mortgages
Nationwide slashes LTV on its interest-only deals, raising fears it will leave thousands of borrowers as ‘mortgage prisoners’Nationwide building society has slashed the maximum loan-to-value (LTV) ratio on its interest-only mortgages from 75% to 50%, l…