Essentially Home Loans Weblog

One of the UK’s leading charities has stated that sale-and-rent-back property schemes are a disaster waiting to happen and something needs to be done sooner rather than later.
The claims come from the Citizens Advice Bureau who have called for more official regulation of firms involved in the scheme. Currently firms are simply buying the homes [...]

New restrictions have been introduced by lenders meaning that high-risk lenders will find it increasingly difficult to secure a mortgage. Because of the changes by lenders to their lending criteria it is expected that the number of rejections for home loans are going to soar.
An independent broker has released new research showing that a quarter [...]

Some experts are warning that the number of repossessions will soar this year as lenders begin to crack down on sub-prime mortgages by pushing up interest rates and cutting down on how easy it is to secure a loan.
There are hundreds of thousands of homeowners with poor credit histories and it is predicted that as [...]

There have been increasingly strong signs that the property market is heading towards a slowdown. The first shock to hit the housing market last summer was the sub-prime lending crisis that resulted in banks tightening up lending criteria and following stricter conditions on extending bad credit loans to borrowers with poor credit history. The slowdown [...]

The amount of debt that families across the UK are defaulting on has hit a record high according the figures from the Bank of England.
In the first half of 2007 banks were forced to write off £3.74bn because borrowers are failing to pay back their loans.
This means that everyday households in the UK are defaulting [...]

If you felt like most of your repayments for that bank loan you have were going on the interest, don’t expect a reprieve soon. Banks took advantage of the base rate rises earlier in the year to raise their credit card and overdraft interest rates well above the last base rate rise back in July [...]

Many analysts in the financial industry are upset at the way many debt management firms are using high interest, increased repossessions, and insolvency rates to sell financial products, sometimes to consumers who do not need them.
This trend is growing as fast as the debt management industry itself. This is causing many people to avoid buying [...]

The amount that we owe to banks has got larger and larger of the past decade and is now worth £1.345 trillion. That is a tripling of debt over the past 10 years and is greater than the total size of the economy.
The size of the debt is now a very real threat to the [...]

The private equity industry’s appetite for debt is reaching levels that may bring the UK economy down like a house of cards, according to a parliamentary report.
The report states that the Government needs to consider changes to the way wealthy executives are taxed.
The Treasury Select Committee warned that the growth of the industry came was [...]

The past month has seen house prices remain constant across much of the UK. There are even reports of some areas seeing decreasing in house prices.
The current freeze on house prices is part of a greater trend in the slow down of  house price increases all over Britain. The performance of the housing market has [...]