Essentially Home Loans Weblog

Sub-prime lenders are using heavy handed approaches in order to manage borrowers who are falling into arrears. This, coupled with bad advice from brokers as well as irresponsible lending decisions, is making things a lot harder for some borrowers. Many of the regulatory safety nets set up by the Financial Services Authority (FSA) are failing [...]

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 [...]

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 [...]

Abbey, Britain’s third biggest mortgage lender, has come under heavy criticism for adding to the nation’s personal debt problems by launching a new mortgage that is worth up to 125% of the sale price of the property.
This is the biggest of its type loan to be offered by a UK bank and is secured completely [...]

The announcement by the Bank of England that it will inject £10bn into the money markets should lead to homeowners seeing their home loan rates fall as lending between banks becomes cheaper.
This move by the Bank of England is aimed at reducing inter bank lending rates and should have effects on mortgage costs soon enough.
This [...]

There is evidence that the economy is beginning to slow down due to the impact of higher interest rates according to a number of indicators including the slow down in house price inflation, a cut in high street prices and the number of repossessions increasing across Britain.
Demand for homes remained strong for most of last [...]

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 [...]

According to two of the country’s largest home loan lenders, house prices will only rise by six percent this year.  Halifax and Nationwide have announced that they expect the house price growth to slow between now and the end of December.
Because of the recent interest rate rises, lenders are starting to see the effect that [...]

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 [...]