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 [...]

The Chancellor Alistair Darling has proposed making it easier for lenders to fund 10-year fixed rate home loans. The changes proposed could mean that borrowers would then be tied for longer periods to their fixed rate deal thus helping to stabilise the market.
So far borrowers have only been able to take out these type of [...]

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 [...]

The decision by the Bank of England to hold rates at 5.5%, shows clearly that it is still not fully convinced that the slowdown in the housing market has gone far enough.
Analysts are more doubtful however warning that continuing instability in the credit markets is going to force the Bank to cut the base rate [...]

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 [...]

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 [...]

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 [...]