Tag Archives: building societies

Mortgages Worth Less In Britain

From the Telegraph: The Council of Mortgage Lenders (CML) is preparing to release its estimate for the total amount of money leant by building societies and banks in September. It is thought that the figure could be as little as … Continue reading

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Where’s My Mortgage, Mate?

From the BBC: The credit crunch has led Britain‘s banks and building societies to charge higher interest rates on the money they lend out and to withdraw thousands of mortgage deals, leaving increasing numbers in a desperate situation. Disappearing deals … Continue reading

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UK’s Mortgage Lending Halves

From the Guardian: Nationwide, Britain‘s largest building society and second-largest mortgage lender, yesterday reported a 40% fall in mortgage lending last year, in the latest sign of the credit crunch’s effect on housing. The retreat from mortgage lending is further … Continue reading

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Housing Market Worst Since 1970s

From the Guardian: House sales could fall to their lowest level since the mid-1970s the Council of Mortgage Lenders warned yesterday, as it predicted a drop in prices and a halving in the mortgage market as a result of the … Continue reading

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UK Mortgage Lending Crunch

From Reuters: "The credit crunch has resulted in a gap in the availability of mortgage credit relative to demand. Lenders have changed their product ranges, tightened lending criteria and reviewed their pricing in order to maintain their individual ability to … Continue reading

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UK Mortgage Rates At 8 yr High

From the Telegraph: Fixed-rate mortgage rates for new customers have hit the highest level since the start of the decade, figures have showed. The average rate for a two-year loan, the most popular mortgage, have reached 6.64 per cent. This … Continue reading

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UK Mortgage Blues

Here’s a report: So said Jackie Bennett, head of policy at the Council of Mortgage Lenders (CML), at a conference for the mortgage industry held in Manchester this week. Bennett also quoted CML chief Steven Crawshaw as expecting the level … Continue reading

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Nigerian Banks Withdrawing From Mortgage Markets

If you can’t get a good deal in Nigeria, where can you go? For years, my email box has overflowed with great offers from Nigeria. Now the mortgage crisis has stemmed that flow. Here’s a report from allafrica.com: More banks … Continue reading

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The UK’s Credit Crisis

Britain has experienced an unprecedented demand for mortgage refinancing. Lenders are wary. They were too easy before. Don’t want to be burned again. Withdrawing from the mortgage market as a consequences. News that First Direct has withdrawn its entire mortgage … Continue reading

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What’s The Solution to the Mortgage Mess?

The Times of London reports that central banks, led by the US Federal Reserve and including the Bank of England, announced more than £100 billion worth of joint action to free up wholesale funding markets by pumping liquidity at the … Continue reading

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