RICS Outlook for 2009: House Prices will Slump further 10pct

The UK property market has been given another blow with reports from RICS saying that they expect house prices to fall a further 10 percent in 2009.

According to the housing market forecast by RICS there is a little bit of good news, they predict that we will also see an increase on10 percent in sales during 2009 as the survey indicates that we have hit (read more…)

Category: Europe, Mortgage News | December 24th, 2008 | Comments (0)

British Bankers Association: Mortgage lending down 60 percent

According to the British Bankers Association (BBA) Mortgage lending in the UK by the major banks has fallen sharply, with mortgage approvals falling 60 percent lower than the same time a year ago for house purchases.

In November mortgage approvals for house purchases (read more…)

Category: Europe, Mortgage News | December 23rd, 2008 | Comments (0)

Royal Bank of Scotland (RBS) and HBOS: Verge of Collapse

Royal Bank of Scotland (RBS) and HBOS (LON:HBOS) were close to collapse in the second week in October, due to the British banking giants having difficulty getting short-term funding as the credit crunch swept around the world, according to the BBC program Panorama.

The authorities had said without the funding that both RBS and HBOS would have (read more…)

Category: Business News, Europe | December 23rd, 2008 | Comments (0)

Nationwide and Halifax will not forecast house prices

Halifax part of the HBOS group (LON:HBOS) that are merging with Lloyds TSB (LON:LLOY) and Nationwide Britain’s largest building society have announced that they will not be forecasting the UK property prices, this outlines how difficult it is for predictions to be made at the moment.

Both Nationwide and Halifax usually publish annual house price forecast but we will (read more…)

Category: Europe, Mortgage News | December 22nd, 2008 | Comments (0)

Bank of America & Citibank report rise in mortgage defaults

According to data compiled by Citibank, Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and other large US financial institutions, the amount of home mortgage borrowers that are defaulting after their mortgage loans are modified are continuing to rise, it’s also noted that there is no sign of the rising (read more…)

Category: Companies for Mortgages, Global Economy, Home Insurance, Mortgage News, Other, US | December 22nd, 2008 | Comments (0)

RBS and NatWest launch new fixed rate mortgage deals

Royal Bank of Scotland (RBS) and subsidiary NatWest have launched new fixed rate mortgage deals on both 2 year and 3 year terms.

You will need a 75 percent Loan-to-Value (LTV) to qualify for a two year fixed rate deal of 4.85 percent, a reduction of 0.15 percent. This deal comes with a £999 administration (read more…)

Category: Europe, Mortgage News | December 22nd, 2008 | Comments (0)

First Time Buyer Magazine – Help on the Property Ladder

Is now the right time to buy your first property? This is a highly speculated question at the moment, with falling house prices and lower interest rates some could argue that now is the perfect time to buy.

You will need a sizable deposit, but don’t let that put you off, it may be a wise move to look around the not too top end areas where there is still growth to come, look how area’s such as Clapham, Battersea (read more…)

Category: Europe, Mortgage News | December 22nd, 2008 | Comments (0)

Investors lose millions over Buy-to-Let Scheme

East Yorkshire Buy-to-Let investors are among more than 100 nationwide caught up in a scheme by Morris Properties and several conveyancing solicitors being investigated by the police.

The Leeds based business, Morris Properties, are facing group legal action after it was alleged to have sold more than 1,000 properties in Leeds and the North East for more than they were (read more…)

Category: Companies for Mortgages, Europe, Interest Rates, Mortgage News | December 22nd, 2008 | Comments (0)

Irish Government takes control of Anglo Irish and injects €5.5bn into Banks

The Irish government is injecting £5.13 billion (€5.5 billion) into the Bank of Ireland (ISE:BKIR), Allied Irish Bank (ISE:ALBK) and the Anglo Irish (PINK:AGCPF) in a bid to avoid a crisis, the government have already guaranteed the giants of the banking sector with €400 billion of savings and liabilities.

Both Allied Irish Bank and Bank of Ireland will get a €2 billion investment from the (read more…)

Category: Business News, Europe | December 22nd, 2008 | Comments (0)

HBOS announce £8 billion of bad debts ahead of Lloyds merger vote

HBOS Plc (LON:HBOS) the troubled bank is just hours before a vote will be announced over its merger with Lloyds TSB (LON:HBOS) have announced its bad debt and other losses have jumped to £8 billion in just two months.

Shares in HBOS plunged over 19 percent on the profit warning from the UK bank, the ailing economy sent October and November retail (read more…)

Category: Business News, Europe | December 12th, 2008 | Comments (0)