Archive for March, 2009
Tenants are ‘recession victims’
Campaigners are urging the government to help protect thousands of private tenants facing eviction as landlords increasingly fall into mortgage arrears.
The Citizens Advice Bureau, Shelter, Crisis and the Chartered Institute of Housing have joined forces to highlight what they say is a growing problem.
They want new laws in England and Wales to give tenants more [...]
Proposed cap on mortgage lending by FSA is ’suicidal’, say property experts
A proposed cap on mortgage lending, limiting how much money home buyers could borrow, has alarmed property experts, who have warned the move could be “suicidal” for the housing market.
Proposals to limit how much banks and building societies can lend home buyers – restricting mortgages to just three times a buyer’s annual salary – are [...]
Home buyer enquiries rise but fail to translate into sales, RICS says
Homebuyers are returning to the market, but they are still unable to get mortgages – leaving sales at an all-time low, the Royal Institution of Chartered Surveyors announced today.
RICS said new buyer enquiries increased for the fourth consecutive month, with the strongest increases seen in London, Wales and the South West.
However, it added that the [...]
Bovis announces £78.7million loss after collapse of mortgage market
Bovis Homes has announced that its revenue fell almost 50 per cent last year, due to the sharp fall in the number of homes sold as potential buyers struggle to get a mortgage in the current economic climate.
The house building group completed 1,817 homes in 2008, about a third fewer than the number completed in [...]
Ex-Countrywide president profits from distressed mortgages
For those limber enough to leap on and off the merry-go-round of an economy spinning from boom to bust, the rewards can be great, even if the rest of us think some people do not deserve to ride at all. Take the former president of the collapsed US mortgage giant Countrywide, Stanford Kurland, for instance.
Mr [...]
Missing Your Mortgage Payments: What To Do When You Can’t Pay Your Mortgage
It’s been no secret that many homeowners and prospective buyers have had trouble over the past year; payments missed, interest rates rising as well as other contributing factors such as banks going under and being brought back from the brink of collapse by nationalisation. He shocking statistic of last year has definitely got to be [...]
Read Full Post | Make a Comment ( None so far )Debt management – helping avoid mortgage repossession
Figures from the Council of Mortgage Lenders (CML) suggest that mortgagors around the UK are finding it harder to manage their debts. At the end of June 2008, 1.33% of mortgages were at least three months in arrears. Three months later, this figure had risen to 1.44% – and by the end of 2008, 1.57% [...]
Read Full Post | Make a Comment ( None so far )Mortgage lending in 60% plunge
Mortgage lending dived by more than 60% during January to just one 10th of its level 12 months ago, figures show.
The Bank of England said net mortgage lending, which strips out redemptions and repayments, was £690 million during the month, down from £1.79 billion in December.
It is the second lowest monthly total recorded by the [...]
