All Entries Tagged With: "business"
2 percent fall in house prices increase recession worries
House prices in the UK have seen their sharpest annual fall for at least two decades, in June the value of a house fell by at least 2 percent, this downturn in the property market is now spreading fears that the economy could plunge into a recession.
First-time buyer couple's troubles: year's income for deposit
If you are a first-time buyer couple and are on a low income, then you will know that it takes a years worth of your take-home pay to save enough money for a deposit, this is according to a recent survey.
Today's Bank of England expectations
The Bank of England meets today to decide where they are going with interest rates this month; the expectations are that they will keep them at 5 percent; it seems that the worry about rising inflation will outweigh the worry of the UK’s slowing economy.
MBA report that Mortgage applications rose by 7.5%
The Mortgage Bankers Association (MBA) has reported that applications for mortgages actually rose by 7.5% compared to the week before; this coincides with higher interest rates charged on mortgages. Both home-purchases along with refinance application contributed to the increase.
Bovis Homes and Redrow housebuilders announce job cuts
Bovis Homes and Redrow homebuilders have announced that they have no choice but to introduce job cuts, this follows the news that we reported yesterday that Persimmon had to shed a number of jobs.
Fixed rate mortgage more expensive: Lenders criticized
Fixed rate mortgages are now costing more and they still continue to rise, many thought that things would have stabilized as the cost of borrowing between banks seems to have hit its peak, however Moneyfacts.co.uk is now criticizing lenders for failing to reduce rates on these fixed are mortgages.
IndyMac firing half its employees: Prospect Mortgage gets retail branches
Following the news that IndyMac is firing half of their employees, we have also learned that the lender is to sell most of their retail mortgage branches to Prospect Mortgage. According to an e-mailed statement from Prospect, the new deal will give them more than 60 branch offices along with 750 employees.
BDS Mortgage Group announces 15 job cuts
The BDS Mortgage Group has announced that they are to cut 15 jobs; this is part of the company’s decision to change their organisational structure as a result of the current market conditions. The Mortgage company are not happy about cutting these
Mortgage credit crunch worse as unemployment and inflation soar
If you thought that you had mortgage worries now, then you will not want to look at the state of the UK’s economy, things certainly look very bleak right now. As a country we are now facing soaring unemployment along with surging inflation, add to this
Bank of America still committed to buy Countrywide Financial
Bank of America Corp Chief Executive Kenneth Lewis has said that they are still committed to buying Countrywide Financial Corp even though they are losing money on their mortgages. Lewis has said that the $3.1 billion purchase of Countrywide is an
Low interest rates are a thing of the past
With the current credit crunch going on most of us will be hoping that interest rates will fall, but the truth of the matter is, they will likely rise instead. Many experts believe that the next move will be up instead of down, so it seems that homeowners are in for a
Take a payment holiday with your flexible mortgage
When things start getting to you the best thing you can do is take a holiday, well that is the same with your mortgage payments. Things are now getting tighter for us all, so it will be great if you could take a holiday from your mortgage
105 percent Mortgages still available
As many of us already know the bubble in the housing market is bursting, but you will be shocked to know that you are still able to buy homes with no money down. Well it is even possible to get yourself a 105 percent mortgage, but the downside is that
Rating agencies to charge for credit assessments for criteria for mortgage
A number of rating agencies now have to change their way in how they charge for credit assessments, this is for the mortgage-backed securities market. These credit assessments are used to prevent rating shopping, where only the highest
Fall in mortgage lending now affecting house sales
April is now the second lowest month on record for mortgages being approved, and this is now starting to have an affect on the housing market. The slump in these approved mortgages is down by at least 39 per cent, compared to the same time last year. The first signs that we was in for [...]