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Mortgage Limits Will Push Buyers to Shared Ownership

Some social landlords are saying that capping mortgage lending may spark an increase in applications f0r shared ownership. In June, Chancellor George Osborne announced that the Bank of England will have new powers to cap the size of mortgage loans as a share of the lenders income or the value of the home itself. Mr.Osborne […]

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Statistical Fog on Mortgage Loans

Those hoping for a clearer indication of exactly what is happening in the housing market at the moment are to be disappointed. The latest figures on mortgage lending have just alluded to a ‘statistical fog’  according to the Council of Mortgage Lenders (CML). The total amount of new loans in May amounted to £16.5 billion- […]

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IMLA Report Has Advice For Bank Of England

The Bank Of England should be wary about raising interest rates following a mismatch in mortgage and housing activity. This is according to a new report from the IMLA (Intermediary Mortgage Lenders Association) that suggests policymakers would be better concentrating on making Help To Buy schemes more targeted. Broader action, they believe, would be too […]

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Financial Ombudsman Warns Of Leaving Debt Help Too Late

More and more people are said to be in denial about their financial debts and are failing to seek advice for mortgage repayments. This is the belief of the financial ombudsman who said it had received an overwhelming amount of calls from people who were making unrealistic appeals to lenders  about their debt for too […]

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Help to Buy is having little impact on London house prices

The Government’s much-criticised Help to Buy mortgage guarantee scheme has supported over 7000 home loans worth a total of around £1 billion since it was launched back in October, official figures have shown. The figures, which demonstrate the first six months of the mortgage scheme have been released by the Treasury and show the mean […]

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Homeowners underestimate mortgage repayments

Credit agency Experian has found that people in the market to buy a home are underestimating the cost of their repayments by around £500 a month when they are preparing their budget before going ahead with the mortgage. It is believed that this shortfall could increase to £650 when the interest rates rise nationally. Research […]

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Could securing a mortgage get even more difficult?

It has been revealed that lenders are tightening their criteria for mortgages. The Royal Bank of Scotland is the latest lender to impose an income cap on loans of more than £500,000 in response to pressure over rising house prices. The bank will restrict lending to a maximum of four times earnings’ for applicants buying […]

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High Risk mortgages are becoming more common

More mortgages on banks’ books are becoming high-risk. TSB, who used to own Mortgage Express before it was sold to Bradford & Bingley, has admitted that nearly half of its residential mortgage book is made up of high-risk interest only loans- more than twice the amount found at the Nationwide building society. This news comes […]

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Student Debt Could Impact Mortgage Applications

Most graduates will be coming out of university with their debts acquired over the course of their degree exceeding £25,000 which they do not have to pay back until they are earning over £21,000 every year. Most graduates won’t be earning anywhere close to this amount for several years after graduation with  entry level jobs […]

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Rising Interest Rates Could Affect 22,000 People

Interest rates in the UK are expected to rise by 1% this year. Some people are speculating that this inflation will cause over 20,000 people to fall behind on their mortgage repayments and push them unwillingly into mortgage arrears. One of the people who believes this will happen is Richard Banks, who is the chief executive of […]

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