Category: All News

Prediction for the number of mortgage possessions lowered Data form the Council of Mortgage Lenders (CML) confirms that lenders are showing forbearance to borrowers who fall into arrears, and that a range of government schemes is also providing help. They have also lowered their prediction for the number of mortgage possessions this year from 75,000 to… Continue reading Outlook for mortgage and housing markets

 Protecting against the unexpected Once you take out any kind of mortgage, it’s very important that you make all the repayments in full, and on time. If you fail to do so you could lose your home and it could also affect your credit rating. Sometimes, however, the unexpected happens. For example, you might lose your job through… Continue reading Mortgage repayments

Underwriting a proportion of the lender’s ultimate risk of loss The government has launched a Homeowners Mortgage Support scheme (HMS). This scheme enables eligible borrowers to defer a proportion of their interest payments for up to two years, with the government underwriting a proportion of the lender’s ultimate risk of loss. The implementation of the new government measure is… Continue reading Homeowners Mortgage Support scheme

Not the only influence on mortgage pricing The Council of Mortgage Lenders (CML) is concerned that some recent coverage of fixed-rate mortgage pricing fails to reflect the complex array of influences on lenders’ pricing strategies at present. The CML is now seeking to shed more light on these factors, and explains that: Swap rates are commonly cited… Continue reading Swap rates

Measures taken by the authorities have stabilised the economy The Council of Mortgage Lenders (CML) have announced that due to the large cut in interest rates they predict there will be fewer households falling behind with their mortgage payments this year, as well as a reduction in the number of homes taken into possession. Conditions… Continue reading Fewer possessions expected in 2009

What the numbers show Estimates suggest that a higher proportion of young first-time buyers than ever before are getting help from parents to enter the market. But, the latest data shows signs that lending criteria stopped tightening in May. Since reaching a record 25 per cent in February, the average first-time buyer deposit has remained unchanged. And the typical first-time… Continue reading Lending criteria

The problems caused for lenders by imposing planning restrictions A new briefing note has just been published by the Council of Mortgage Lenders (CML) for local authorities and housing associations to highlight the problems they can cause for lenders by imposing planning restrictions under section 106 of the Town and Country Planning Act 1990. While… Continue reading Local authorities and housing associations

Over three quarters of new home owners would recommend their builder The vast majority of Britain’s new home buyers would recommend their home builder to a friend, according to the Home Builders Federation’s (HBF’s) fourth annual Customer Satisfaction Survey. The survey also showed that over three quarters (76 per cent) of purchasers questioned in the… Continue reading Delivering customer satisfaction

Socially responsible and prudent solution to people in negative equity The Nationwide Building Society has introduced a mortgage allowing borrowers to take loans worth 125 per cent of the value of the home they are buying. The lender said the loans offered a “socially responsible and prudent” solution to people in negative equity. The “very… Continue reading Lender defends the launch of its new 125 per cent mortgage

Increase in new buyer enquiries reported Expectations that house prices are set to rise have increased for the first time since May 2007 because of the low number of properties on the market and increased interest from potential buyers, according to the latest housing market survey. The Royal Institution of Chartered Surveyors (RICS) regular monthly survey of its members shows… Continue reading Small signs of housing market recovery