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Lenders and house builders have been involved in secret talks aimed at easing the supply of mortgage finance, it’s reported.
According to The Times, leading house builders such as Taylor Wimpey and Barratt have been in discussion with the Council of Mortgage Lenders and major banks, including Lloyds and Santander.
Category: Mortgage Rate News Tags: Economy, Housing Market, Markets, Mortgage, Mortgage Rates
31-May-2011
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A leading business organisation has warned that rises in interest rates are on the way this year.
The British Chambers of Commerce (BCC) predicts that the Bank of England will move to raise rates in August, in an effort to curb inflation. And that’s despite revised economic forecasts, with the BCC becoming the latest in a long line of organisations to downgrade estimates for UK growth in 2011 and 2012.
Category: Mortgage Rate News Tags: Business, Headlines, Mortgage Rates, Remortgage
30-May-2011
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The vast majority of first-time buyers look to their parents to help them onto the property ladder, according to a study.
Research from the Yorkshire and Clydesdale banks shows that 84% of those making their first property purchase rely on the so-called “bank of mum and dad” for financial assistance. That’s more than twice the level recorded in 2005.
Category: Finance News Tags: Business, Companies, Housing Market, Industry
29-May-2011
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Property prices were up in May according to Nationwide – though not by much.
Statistics from the lender show that average prices rose by 0.3% to leave the typical home worth £167,208. The increase comes after a slight fall in April, and contributes to a rise of 0.6% for the quarter – often taken as a more reliable measure.
Category: Current Market News Tags: Economy, House Prices, Housing Market, Remortgage
28-May-2011
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Figures from the banks present a subdued but steady picture of today’s mortgage market.
According to the BBA (British Bankers’ Association), there was some growth, with net mortgage lending – taking into account repayments – increasing by 2.2% in the year to April.
Category: Current Market News Tags: Economy, Mortgage Rates, Remortgage
27-May-2011
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A prestigious international body has said that UK interest rates should rise soon.
The Organisation for Economic Cooperation and Development (OECD) has urged the Bank of England to follow the example of the European Central Bank, and act to raise rates by the end of the year. Economists fear that inflation may become entrenched, as workers demand higher wages to cope with rising prices.
Category: Current Market News Tags: Economy, Housing Market, Mortgage Rates, Remortgage
26-May-2011
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Forget the Bank of England and its record low base rate – the rates we pay on personal loans are at their highest for a decade.
That’s among findings from new research by Moneyfacts. They calculate that the typical rate on a £5,000 loan is now 12.7% – the highest seen since May 2000.
Category: Finance News Tags: Business, Economy, Mortgage Rates, Remortgage
25-May-2011
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Homeowners still take an upbeat view of prospects for the property market.
That’s one conclusion to emerge from a survey by estate agent Your Move. According to the research, 8 out of 10 homeowners expect house prices to rise in the next 5 years, with just 11% anticipating a fall.
Category: Current Market News Tags: Consolidate Debt, House Prices, Housing Market, Remortgage
25-May-2011
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A leading Bank of England official has stressed that higher interest rates are likely to be necessary to curb inflation.
And that could leave many homeowners needing to take a close look at their mortgage options – and other financial commitments – in the next few months.
Category: Current Market News Tags: Consolidate Debt, Economy, Remortgage
23-May-2011
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Home improvements are in the air – though too late for troubled DIY chain Focus Do It All. Rivals Wickes, more at the no-frills end of the market and catering for the building trade too, are taking over a clutch of stores.
Now’s the time of the year when the thoughts of householders traditionally turn to extensions and refurbishments. But current difficulties in the housing market are giving added impetus to the plans of many of us.
Category: Current Market News Tags: Economy, Housing Market, Mortgage Rates
23-May-2011
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