All Entries Tagged With: "business"
Yorkshire Building Society cuts mortgage rates
Yorkshire Building Society are cutting some of their fixed rate mortgages by up to 0.5%, the lender will also be introducing a new low-rate product.
Yorkshire Building Society has said that they are responding to the
City uncertain with Bank of England division on interest rates
As we know the Bank of England have a three-way split in how they think the interest rates should go, this has now spread uncertainty in the City, as they do not know what the banks next move will be.
This follows the news that the MPC’s hardline
Mortgage rates increasing due to Fannie and Freddie
Mortgage rates are now rising due to the troubles of the two big U.S. mortgage lenders, Fannie Mae and Freddie Mac. This will cause yet another blow to the already fragile housing market.
Just as the government stepped in to save the two mortgage lenders, home loan rates were
Approved mortgages fall to new low in June
The number of mortgages that were approved in the month of June has now fallen to a record low. It seems that the lower house prices have done nothing to increase mortgage approvals.
According to The British Bankers’ Association (BBA) their members report that just
Freddie Mac to cut purchases of home loans
Freddie Mac may have to cut purchases of home loans from banks and bonds which are backed by housing debt, the second-largest U.S. mortgage-finance company hopes that they will be able to shore up its capital amid record delinquencies.
House rents set to rise due to rising demand
There have been reports that house rents are set to rise by at lease 15% over the next two years, this is a direct result of a shortage of supple and rising demand. It seems that buyers are struggling to get on the housing ladder, so are now choosing to rent instead.
This report was carried [...]
National Australia Bank (NAB) raising lending rates
National Australia Bank are all set to increase their lending rates, NAB will increase the rate by 0.15 percent to 9.61%. This move by the bank will not be a popular one, as mortgage payment will now be more, especially for those with high mortgages.
Fannie Mae, Freddie Mac crisis: higher loan rates to come
The crisis that surrounds troubled mortgage giants Fannie Mae and Freddie Mac is about to have a huge effect on getting a home loan. In a time when it is already hard to get a mortgage for a new home, things look set to get tougher as we could be in for higher loan rates.
Mortgage slump set to get much worse
Just one year ago the housing market was in such a good position, back then I decided to put my house on the market. That same night my estate agent had managed to line up three potential buyers, I had an offer on the first night, but I refused it as it was too low.
Well [...]
Should the taxpayer rescue Fannie and Freddie
One of the most talked about things in the global markets has to be Fannie Mae and Freddie Mac; these are the two most important companies in the world. Although these are two banks they do share one problem, not making a profit, instead they are making a loss. Well it seems as if the [...]
Abbey introduce second lot of rate cuts
Just a few days ago Abbey announced that they were cutting rates on their fixed-rate and tracker mortgages. Well we have just learned that the Santander owned bank are to reduce the rates on their two and three-year fixed rate deals by up to 0.15%.
If you was to take out their two-year fixed-rate deal your [...]
Bank of England decision and how it affects landlords
Thousands of landlords up and down the country were all waiting for the Bank of England’s decision on interest rates. Well now they have had a day to reflect, you have to wonder what their views are.
I spoke to a friend just a few hours ago who owns
Tighter mortgage rules will help fight repossessions
The Federal Government has been forced into a move that will make it harder for people to get a mortgage, as they will tighten the rules for government-backed mortgages. The reason for such a move is simple, some mortgages are easy to come by and now with the current housing crisis many homes are facing [...]
Bank of England holds base rate at 5%: are they right
We all knew the decision before the Bank of England did, they have decided to keep the base rate at 5% amid pressures of slower economic growth and rising inflation.
This news will come as a shock to those in the housing sector, as they were calling for a
No more lending for Base Commercial Mortgages
Base Commercial Mortgages have decided to suspend new lending on a temporary basis, but they have said that they will still honor all of their outstanding offers.
The mortgage lender, who has only been in business less than a year, has said that the