Essentially Home Loans Weblog

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 [...]

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 [...]

According to a survey by Nationwide Building Society only 29% of credit card customers are aware of the fact that many credit card providers always pay off debts charged at the lowest interest rate before paying off the debts with the higher rate of interest, making themselves an additional £500 million each year from this [...]

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 [...]

One of the most influential economists in the world, Alan Greenspan, predicts that Britain’s housing market is heading for a downturn and it is not going to be pretty.
The US property market has been in a lot of trouble recently as a result of the global ‘credit crunch’ that has been afflicting financial institutions. However [...]

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 [...]

About 4% of all mortgage holders in the UK are Alliance and Leicester customers. Therefore, there might be a few of them who are understandably a little nervous at the news that Alliance and Leicester lost 33% of its value recently. Traders were literally dumping Alliance and Leicester stock as they feared that it might [...]