Essentially Home Loans Weblog

There are growing fears that Britain’s housing sector could be heading for a painful slowdown as the credit crunch affecting the banking sector spills over into the wider economy.
Recent figures released by the Building Societies Association show that the value of mortgage approvals for January nose dived by 25% to £4.168bn.
These figures are the strongest [...]

Experts in the banking sector insist that tracker home loans are still good value for money. This is because it is considered by most experts that we are interest rates reached the peak at 5.75% last year and they are only expected to come down from now on.
The current interest rate is 5.5% so anyone [...]

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 [...]

A report out by the TUC which concentrated on affordability issues in England has found that the typical house price ten years ago was £60,000. The price at the time was three and a half times the average home loan.
There has been considerable house price inflation since then and the average price of a house [...]

Despite the recent news of falling house prices, the property market and the cost of home loans here in the UK continues push the bottom rung out of reach for many first time buyers. So for some it may be worth considering investing in some property abroad.
Except for Spain, house prices in Britain have increased [...]

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 [...]

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 [...]

Some of the major lenders out there have decided to scrap the charges they place on borrowers when the repay their home loan early or change to another lender.
Complaints to regulators have increased over the past few years as some lenders have increased their mortgage exit fees by as much as 100%. This increase in [...]

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 [...]

The mortgage lending industry is set to bring another financial product into the main stream mortgage market.  The 100 per cent home loan is set to make it easier for first-time homebuyers to purchase their homes.
Jeremy Claridge, head of specialist mortgages at Alliance & Leicester:
“With increasing house prices and rising interest rates, homebuyers and remortgagers [...]