Tag Archives: bank of england

England’s Credit Crunch

From the UK: The central bank’s Credit Condition report shows “expectations for house prices and concerns about the economic outlook” led banks and building societies to reduce the amount of mortgages available. Unsecured credit – the form of personal loans, … Continue reading

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Is Your Bank Safe?

From the BBC: This is what the UK (and US) government and financial authorities have been worried about – that banks exposed to too many defaulting mortgages might collapse. Unlike in the US, where small banks frequently go bust, there … Continue reading

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Bank Of England Maintains Its 5% Interest Rate

Housebuyers looking for a mortgage may be interested to learn that the Bank of England is expected to maintain its interest rate at five per cent. Several sector commentators have claimed that there is little chance that the Monetary Policy … 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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Mortgage Fears UK-Style

From the Times of London: Northern Rock is planning to more than double the number of people working in its debt management business in a move that will spark fresh fears of widespread repossessions over the coming year. An internal … Continue reading

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The Three-Year Mortgage Fix

From thisismoney.co.uk: The cost of three-year fixed rate mortgages has plunged – making them an increasingly popular choice for homebuyers. With fees on home loan deals rising – the cheapest are now around £1,000 – homeowners are opting for medium-term … Continue reading

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The Off-Set Mortgage

From the UK: I’m tempted to switch to an offset mortgage, but I’m worried that I’d have to pay a significantly higher rate compared to a regular deal. I have savings of £27,000′ KR, Cardiff By "offsetting" your savings against … Continue reading

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The End of the Mortgage Crisis?

From the Independent of London: Some stability seems to have returned to the mortgage market, with several high-profile lenders even moving to cut rates. Nationwide and Abbey, have both reduced their prices recently, with Nationwide’s 0.3 per cent cut on … Continue reading

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UK Mortgage Approvals Near Record Low

From Reuters: LONDON (Reuters) – The number of mortgages approved for house purchase was the second weakest on record in April, a survey shows, suggesting no let-up in the property market downtrend. The British Bankers’ Association said approvals for home … Continue reading

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UK’s Dramatic Drop In Mortgage Lending

From the Guardian: The property market slump seems set to intensify after the major banks revealed that the number of new mortgages approved in April was the second lowest on record. In overall terms, April’s underlying net mortgage lending was … Continue reading

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