In a move to repay government lending, Northern Rock are set to slash 60% of their home loan customer base.
Since the government bailed out the beleaguered lender earlier this year, it has been holding £24bn of government funds, a figure it aims to reduce to £1bn by 2009.  It aims to do this by refusing […]

The Land Registry currently estimates that the average house in England and Wales cost somewhere in the region of £183,896. Halifax, whose estimate includes Scotland and Northern Ireland, puts the figure somewhat higher at £198,500.
While these estimates differ by roughly £15,000 which is a substantial amount the message both indexes give is the same; House […]

It is becoming more and more difficult to find a good mortgage deal, especially since lenders are increasingly tightening their belts in the wake of the global credit crunch.
Banks are getting rid of deals as fears that the UK could be heading towards its first property crash in 17 years begin to mount. The number […]

Two set of figures out recently show that an increasing amount of first time buyers are facing a difficult path ahead as the gap between earnings and house prices contines to grow.
Mortgage repayments have consumed the greatest proportion of take home pay for the last 17 years. The lowest earners as well as first time […]

First time buyers are at the highest risk of negative equity as a result of a massive rise in the number of 100% mortgages last year.
The Halifax Building Society has said that in March house prices fell by 2.5%. This leaves buyers who took out 100% loans last year in danger of owning a house […]

Now is not a good time to be a first time buyer if you are looking to secure a mortgage. Lenders have scaled back on their 100% mortgages – mortgages where no deposit is required – and house prices are showing signs of a serious slow down. If you are looking to get a good […]

There was a record number of savers depositing their money in building societies following the Northern Rock crisis last September.
Net receipts for building societies nearly doubled in September when compared with 12 months before, shooting up by 181% to 2.8bn.
This figure is more than double the amount of money deposited in building societies last August […]

It has been revealed that mortgage lending in the month of January fell by 12% and confirms reports that there has been a slowdown in the house sector.
The total value of mortgages granted in the month of February fell to £29.96bn, which is more that £4bn less than January. The figures which were released were […]

There has been a massive increase in irresponsible lending by lenders in recent years according to the Chancellor and this irresponsible lending has led to houses being massively over-valued.
The Financial Services Authority has found that one in ten house buyers opt for interest only home loans these days. Interest only mortgages are popular among many […]

As homebuyers face a market with soaring house prices as well as increased mortgage prices is it worth forgetting about purchasing a house and opting to rent a home instead?
The average house price is currently close to £200,000, base interest rates are at 5.25% and banks are turning away borrowers in droves. With these kind […]