All Entries Tagged With: "mortgage"
Gordon Brown to ban 100% mortgages
Prime Minister Gordon Brown is thought to be in the process of banning 100% mortgages, this is part of his plans to create a more sustainable lending environment for the UK. The PM announced his plans in an article in the Observer yesterday, where he said that lending in the future needs to be “prudent [...]
Mortgage lending hammered down 42 percent
Mortgage lending dropped to £17.7 billion in September according to the Council of Mortgage lenders (CML) that’s a drop of 10 percent from the previous month and a whopping 42 percent decrease from September 2007.
September Is generally a good month for sales as people try to sell their homes before
New mortgage approvals fell by 65 percent this year
According to figures released by a leading banking organisation the numbers of mortgages approved by lenders have decreased by two-thirds over the last year. During the month of
Were you mis-sold your endowment?
According to research by fairinvestment nine out of ten Britons who have an endowment policy think they were victims of mis-selling. The same amount of
HBOS to cut cost and axe up to 425 jobs
Halifax Bank of Scotland, who are part of the HBOS group, will shut the Mortgage Business to new applicants from the 22nd August to
Liverpool Victoria bank fined by the FSA
The Financial Service Authority (FSA) yesterday fined Liverpool Victoria bank £840,000 for adding protection insurance policies to customer mortgages without explaining to
Rate cut on Woolwich buy-to-let up to half a percent
Good news for all professional landlords, Woolwich, the mortgage arm of Barclays, is cutting rates on buy-to-let deals by up to half a percentage point.
There will be a new rate from Tuesday of
U.K. mortgage-financing to be reviewed
In London this week the U.K said a review of Britain’s mortgage-financing market, although it’s believed that the government won’t respond to industry demands immediately in the call to improve the current market conditions.
Due to the downturn in the housing market, the U.K. Chancellor of
Fannie Mae shareholders pain: $5 Billion Homes Unsold
Fannie Mae, who is the largest U.S. mortgage finance company are giving their shareholders a lot of pain. There are reports that Fannie Mae have $5 Billion Homes Unsold, in one case a buyer would not pay $6,900 for the three-bedroom house, the broker who is handling the foreclosure has suggested cutting the price to [...]
HBOS gets 8.29% of shareholders: 1.4bn share to sell
UK mortgage lender HBOS has only received 8.29% of shareholders for their £4bn rights issue, this now leaves underwriters with almost 1.4bn share to sell. HBOS shares fell as low as 254.5p last week.
Underwriters to the funding, Morgan Stanley and Dresdner Kleinwort, are now faced with the
Seoul shares gain 2 percent after mortgage news
Seoul shares have extended their gains by 2 percent higher on Friday afternoon; this is showing that there is a regional recovery. Most of this recovery is a direct result of the U.S. Government coming in and taking over from troubled banks Fannie Mae and Freddie Mac.
Barclays closes Firstplus loan subsidiary: 300 jobs lost
As we know Barclays Firstplus loan subsidiary was a controversial business for them, well they have now had to close the doors on the loan company. Barclays has had to cut 300 of the 400 staff, because of a 40 percent slump for demand of top-up mortgages.
IndyMac cutting 3,800 jobs & stopping most mortgage loans
One of the Largest mortgage lenders in the U.S., IndyMac Bancorp Inc are to cut 3,800 jobs as well as stopping most home loans. Currently IndyMac employ 7,200, so they will be losing 53 percent of their workforce.
Bank of America may sell mortgage assets following Countrywide Financial buyout
We spoke earlier about Countrywide workers fear Bank of America Corp will cut severance, there is now rumors that the second-largest U.S. bank, might be selling off mortgage assets after purchasing Countrywide Financial Corp.
It seems that BofA has had to make this choice because
Mortgage fee increases will result in full blown house price crash
Over the past few months we have seen mortgage lenders increase their fees, and is looks as if there is no sign of this stopping. These increases in fees will then have a knock on affect, as a result could push the housing market in further into a full-blown crash, this is something that