A big deposit continues to be the key to a cheap mortgage
As we move into the 4th year of the credit crunch Ray Boulger of leading independent mortgage adviser John Charcol highlights some of the ongoing consequences for the mortgage market.
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Anniversary of credit crunch will bring more problems
Property consultants Cluttons is warning of more property heartache despite recent signs of house price recovery, as the market approaches the two year anniversary of the credit crunch.
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Buyers need three times more for a deposit
Borrowers need to find three times more for a deposit, compared with two years ago when the credit crunch
began.
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Lack of new sellers pushes up average prices
A lack of sellers combined with new sellers to the housing market has helped push up asking prices by 15% during May, the largest increase in monthly asking prices since 2003 according to Rightmove’s latest data.
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Sales continue to fall despite new interest in the market
The average number of transactions per surveyor fell to a record low in December despite buyer interest remaining strong according to the latest UK housing market survey from the Royal Institute of Chartered Surveyors (RICS).
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Government could guarantee mortgage lending this weekThe government could be set to step in and guarantee mortgage lending under plans worked upon between government official and bank bosses over the weekend.
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House prices fall by 15.9%
The scale of the downturn in the house market has become more evident with new figures from Nationwide reporting a fall of 15.9% in house prices last year.
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House prices fell by 0.9% in August, the second consecutive month where a fall has occurred leaving the average house price at £166,507, Nationwide has said.
Lloyds TSB has introduced a new, market leading fixed rate mortgage at 2.94%, the product is available both for house purchase and remortgage for borrowers with a deposit of at least 30%.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
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