Home > 2010 > September

Thousands More Face Repossession As Government Cuts Benefit In Half

Published on September 30, 2010 | Author: 

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As the ConDem’s attempt to tackle issues with the Support for Mortgage Interest benefit, more than 100,000 home owners are expected to face crisis as they slash crisis payments for those in difficulty. As of Friday this week, the Government will leave lots of families and elderly people with repayment shortfalls of up to 40%, [...]


Biggest Spending Cuts Since WWII Hitting Housing Market Hard

Published on September 30, 2010 | Author: 

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In August, Mortgage lending fell for the 4th consecutive month adding to speculation that the housing market is taking a nose dive ahead of the proposed spending cuts.  In August lenders only accepted 47,372 mortgage applications and the figure is expected to fall to 47,000 according to a study of economist’s opinions by Bloomberg News. [...]


House Prices Fell Their Most In 18 Months In September

Published on September 28, 2010 | Author: 

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In September, house prices fell everywhere in the UK for the first time since April 2009. The average house price fell 0.4% from August to £157,600 according to Hometrack.  It was the third consecutive monthly drop, the biggest since March 2009. Demand for properties fell the most since January 2009.  House prices were only up [...]


Mortgage Approvals At 16 Month Low

Published on September 25, 2010 | Author: 

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The British Bankers Association released figures yesterday showing that in August, mortgage approvals slowed to their lowest in 16 months adding to the decline of the housing market.  31,767 loans were approved last month, the lowest since April 2009. The rate of approved mortgages had also fallen in June and July despite Summer usually being [...]


Scottish Single Men Worst Affected By Recession

Published on September 25, 2010 | Author: 

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The Joseph Rowntree Foundation released a report this week showing that unemployment in Scotland is the highest in the UK and at it’s worst for 14 years and that single men with no children are the worst affected by the recession. An alternative way of providing yourself with some much needed cash is to make a [...]


96% of people believe UK has housing issues

Published on September 24, 2010 | Author: 

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The Council of Mortgage Lenders have held a ‘Future Housing’ conference for which YouGov undertook research which showed that 96% of people believe that the UK has housing problems. At the top of the ‘problem list’ with 80% in agreement is the fact that it is near impossible for first time property buyers to get their [...]


Should the FSA be able to control mortgage lending and house prices in future?

Published on September 23, 2010 | Author: 

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The FSA chairman, Lord Adair Turner, spoke during his Mansion House speech yesterday and said that in the future his committee would act “to constrain credit booms before they end in busts”. By doing this regulators would be able to control the amount and terms of mortgages given out which in turn would mean they [...]


Downsizing to release equity now much more expensive

Published on September 22, 2010 | Author: 

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Pensions are not all they cracked up to be.  Falling investment returns – such as property investments – and increased interest rates and taxation have resulted in many homeowners of the older generation, who had enjoyed decades of property price inflation, now using their equity to fund their retirements. In the past, downsizing into your [...]


Worst August In A Decade For Mortgage Lending

Published on September 21, 2010 | Author: 

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Mortgage lending last month was exceptionally poor which is particularly bad given that the housing market has slowed down so much. The Council of Mortgage Lenders have released figures showing that last month was the worst August on record since 2000.  The amount lent in August was £11.4 billion which is 14 per cent less [...]


Older Generation Failing To Save For Their Retirement

Published on September 18, 2010 | Author: 

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A study conducted by London School of Economics for Bupa revealed that many older people are failing to make the necessary provisions needed for their retirement in what is now being called the ‘care crunch’.  Most are thought to believe that a state pension will cover their living costs and believe that their families will [...]


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