Tag Archives: council of mortgage lenders

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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The UK Turnaround

From the Daily Telegraph: In the US, there was already a large, liquid market in asset-backed securities – debt securities backed by pools of assets, most commonly mortgages, credit card debt and car loans. Attempts were being made to replicate … Continue reading

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Britain’s Mortgage Meltdown

From the Guardian of London: Britain‘s mortgage market appears to be in meltdown, with first-time buyers going on strike and lenders joining them. Only a week ago, First Direct was offering a best-buy two-year fixed-rate mortgage at just 5.49%. At the … Continue reading

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Subprime Crisis Hits First-Time Buyers In UK

LONDON (Reuters) – Tougher lending terms have forced first-time home buyers to put down average deposits of 13 percent in April, the highest level in more than three years, the Council of Mortgage Lenders said on Thursday. The CML said … Continue reading

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Britain’s Mortgage Rules Changing

From the BBC: Mortgage lenders are to change the way newly-built properties are valued to prevent possible mortgage fraud. The Council of Mortgage Lenders (CML) says new rules will help stop mortgages being granted that were worth more than the … Continue reading

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Taking A UK Mortgage Holiday

From the Times of London: Increasing numbers of homeowners are taking a holiday from mortgage payments as the pressure on their finances intensifies. Mortgage rates have soared as lenders struggle to secure funding, and food and utility bills are also … Continue reading

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Mortgage Lending Down 50% In UK

From the Telegraph: The number of mortgages given to home buyers has fallen to a record low, according to the Bank of England, as the credit crisis leads to a severe lending drought. The number of mortgages approved for house … Continue reading

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Mortgage Payments Highest In More Than Decade

From the Telegraph of London: The interest rates charged on fixed rate loans are rising again after steep increases in mortgage-lenders’ own borrowing costs. The average interest rate on a two-year fixed rate mortgage will soon rise above 7 per … Continue reading

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UK First-Time Buyers Spending Half Of Their Income On Mortgage Payments

From the Telegraph: The average first-time buyer is now having to spend nearly half of their income on mortgage payments for the first time in almost 20 years, figures show. According to data from Nationwide, the country’s largest building society, … Continue reading

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Lenders Give Mortgage Brokers The Cold Shoulder

From the UK: UK’s biggest Lenders are now denying homeowners who approach them through mortgage brokers access to the best deals, insisting that they come to them directly. The decision by banks to deprive brokers of their best rates has … Continue reading

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