There was more bad news for home owners across the UK yesterday as the Nationwide Building Society published its latest figures for the average price of a house for the month of August.
According to the report, the average price of a house in the UK is now down to £164,654 from £169,316 for the month [...]
Since the beginning of the credit crunch last year, we have seen mortgage and home loan providers withdraw the vast majority of their products from the market and severely tighten the lending criteria imposed on those which remain.
One of the biggest casualties in this area has been the high loan to value ratio mortgages, which [...]
Over the course of the past twelve months, new lending on mortgage loans has plummeted, due to a lack of liquidity across the banking sector and falling house prices lowering consumer confidence in the housing market, but although activity within the property market is at an all time low level, approximately 65 per cent lower [...]
Despite a number of warnings from a variety of industry bodies such as the Office of Fair Trading, the Financial Services Authority and the Council of Mortgage Lenders, there has been a large increase in the number of enquiries made by home owners to sale and rent back companies.
These companies offer to buy a property, [...]
We reported recently on proposals from the New Local Government Network (NLGN) to allow local councils to offer mortgage loans to those individuals who are either struggling to get started on the housing ladder, or are suffering from financial difficulties with regard to their existing home loan.
The NLGN have been raising support from local councils [...]
Demand for rental property in the UK is continuing to increase, as many individuals are either not prepared to commit to buying a house in the current economic climate, as they see the value dropping over the next few months rather than increasing, or are unable to afford to buy due to the high prices [...]
We reported recently on the growing popularity of sale and rent back schemes, due to the financial difficulties being faced by many borrowers in maintaining the repayments on their mortgages and home loans, caused by the effects of the credit crunch.
A sale and rent back scheme allows a struggling home owner to sell their property [...]
