Essentially Home Loans Weblog

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 [...]

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 [...]

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 [...]

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 [...]

With the recent weather that Britain has been experiencing it comes as to no surprise that many UK residents are now flying abroad to enjoy warmer, sunnier weather for their holidays.  Many holidaymakers who spend their holidays at a warm country often end up dreaming of owning a permanent spot in the sun and start [...]

The July interest rate rise by the Bank of England was the fifth interest rate rise in less than a year and has affected many homeowners with millions more expected to feel the effects of the rise by the end of the year.  This is despite the rate drop in December, because many lenders are [...]