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Mortgage Approvals Took A Dip In July

Mortgage providers such as Mortgage Express have approved fewer mortgages over the last month. The figures from the British Bankers’ Association in the United Kingdom have revealed that only 42,792 loans were approved for home buyers over the course of the month. This is a decrease of several hundred compared to the numbers seen in June. However, […]

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The Number Of Approved Mortgages Increases

There was an increase in the number of mortgages that were approved by high street banks last month. After four months of decline, figures revealed on Wednesdays show that there has been a short-term improvement in the market. However, experts are still warning that it’s too early to say if new rules on lending are […]

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Fresh New Family Mortgage Launched

A new building society is launching an innovative mortgage scheme. The Family Building Society has just announced its Family Mortgage aimed at young adults who might otherwise have trouble getting onto the property ladder. The idea is that it allows family members to pool their finances together in order to reduce the cost of repayments. […]

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Mortgage Cap Won’t Be Immediate Solution

Talk of an upcoming mortgage cap has began to disappear after comments by mortgage lenders suggest it won’t be arriving any time soon. Mortgage lenders have said that a cap on the size of loans is not likely to be “the first tool in the box” when it comes to their plans to cool the […]

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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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