Date:14 September 2009 I Comments: 3 I Views:9,902

Although 100% mortgage lending for first time buyers is either a log way away from ever happening again or will never happen again, 90% mortgages have typically been considered the route to home ownership for many. Despite the existence of 90% mortgages the number of options have been greatly reduced by the financial crisis, partly due to some lenders removing themselves from high LTV lending practices or closing their doors to new lending altogether but also due to lenders ‘cherry picking’ customers despite offering deals which attract a large number of enquiries. But lenders should see an opportunity arising. A recent report more >

Date:20 August 2009 I Comments: 2 I Views:7,763

Everybody loves a good crisis. People tend to confabulate, conflate, deliberate and speculate as things develop and numerous points of view emerge. The current house price crash is no different. It is without doubt a crisis and there are a variety of opinions on the future of house prices. The general feeling is that prices will continue to fall and there could still be quite a way to go before they bottom out. But what if this isn’t the case? The argument for a continued decline in prices is based on graphs of former house price crashes and graphs about the price to more >

Date:31 July 2009 I Comments: 2 I Views:8,956

As we all know, banks and mortgage lenders recently lost quite a bit of money. There’s a lot of smoke and mirrors being used at the moment to suggest they are posting healthy profits but it’s only because they are robbing Peter to pay Paul. For many years mortgage intermediaries and brokers have been helping consumers find the best deals on the market. Naturally there have been those who exploit the system but any self respecting adviser should always have the clients best interests at heart. Trawling through the thousands of mortgage offers available, often having access to exclusive products more >

Date:13 July 2009 I Comments: 0 I Views:6,463

What Nationwide’s 125% home loan means for the property market more >

Date:9 July 2009 I Comments: 0 I Views:6,363

With recent sentiment suggesting house prices will continue to fall quite substantially and conflicting data from major building societies it’s difficult to be certain where house prices will go over the next few years. I am however fairly sure there will be further decline but the extent of which is in doubt. When comparing the current housing crash to the past and taking into account affordability levels the extrapolation suggests they could fall by as much as 30% – 50% before they really hit the bottom but mortgage lenders seem to be sticking their necks out with offers that suggest they are more >

Date:27 June 2009 I Comments: 6 I Views:17,386

Negative equity is already playing it’s part in stifling the property market and it is set to make matters worse. If prices do drop by another 40% (according to MoneyWeek) or more, over the next few years the number of people finding themselves in negative equity is likely to increase substantially. The actual number of homeowners facing the prospect of negative equity is difficult to quantify because there is limited and conflicting data available. According to the Bank of England between 7% and 11% of UK homeowners are now in negative equity a recent report suggests this equates to between 700,000 and 1,100,000 people. If more >

Date:27 June 2009 I Comments: 2 I Views:10,511

A recent report from the Bank of England has made it into the press suggesting figures for the number of UK homeowners in a negative equity situation. The report used information from a 2008 survey of just 1000 people and may therefore be misleading. To take part in this totally anonymous survey simply select the answer that reflects your personal Loan to Value and I will compile more recent data to try and evidence the real situation. Feel free to email this to as many people as possible. If you don’t know your Loan to Value use this calculator first: Loan to Value Calculator Then more >

Date:15 June 2009 I Comments: 1 I Views:7,371

The dilemma of whether or not to get a long term fixed rate mortgage and ‘ride out the storm’ of impending inflation and interest rate rises or go for a cheap deal now and save in the short term…. It’s a matter of timing. more >

Date:11 February 2009 I Comments: 0 I Views:6,804

It would be nice to follow that headline with something witty and clever about how Northern Rock hasn’t been rolling along with much momentum compared to previous years but that much is obvious to everyone. Losses in the region of £46 Million have recently been reported in connection with repossessions. According to moneyfacts that equates to an average loss of £19,350 per property. The story is a bit ambiguous with the figures but if I’m reading it right that would suggest it has repossessed something like 46,000,000/19,350 = 2377.3 properties since 2001. For one of Britain’s largest mortgage lenders that isn’t more >

Date:12 December 2008 I Comments: 2 I Views:7,718

No-one can deny that upheaval in the banking sector and dramatic base rate cuts by the Bank of England suggest tough times ahead. Thousands of workers face redundancy, a bleak outlook for Christmas and probably not a particularly happy New Year. Rates have been cut in an attempt to stimulate a faltering economy but public confidence is out of the window and people are reported to be tightening the purse strings. But there is opportunity for some to start taking advantage of very low mortgage rates. The problem is these opportunities are only available to consumers considered to be ‘low more >