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For every ten homes sold last month one was a remortgage. Until more mortgages arranged are remortgages each month I very doubt that property prices will drop any further. The reason for the house prices being unreasonably buoyant is due to the fact that for every ten houses sold only six new homes are coming [...]

Some Buy-to-Let landlords have been hardest hit by the current downturn in the economy and are losing properties by three times the rate of ordinary homeowners. Landlords saw the housing boom as an easy way to make money and many felt that the property boom would never end or so they thought. It seems that [...]

The situation as I see it!
Money seems to be in short supply; interest rates offered by banks for saving money remains diabolical; unemployment is expected to increase by quarter of a million as students leave university and college and members of Parliament from all sides of the political spectrum have exploited their expenses for years. [...]

During the 1993 housing recession it was estimated that one and a half million homeowners had negative equity. The Council of Mortgage Lenders has announced that approximately 900,000 homeowners currently have some degree of negative equity.  They believe around 600,000 of these homeowners have seen modest shortfalls of around 10%. When compared with the previous [...]

Money saving Expert says, surely the Bank of England base rate cannot drop any further? They could drop another half a percentage point to zero but there seems little point in reducing interest rates further. The government and the Bank of England have now introduced and started the process of Quantative Easing. They will spend [...]

It looks likely that the government will soon introduce legislation to crackdown on the credit card industry. Proposed legislation will hopefully put a stop to credit card companies increasing credit limits without a direct request from the customer. In the past credit card providers have increased the amount a client can borrow by just writing [...]

The government this morning announced a £200million mortgage rescue scheme that may help around 6,000 homeowners facing repossession, money saving expert heard today.  This new initiative is aimed at stopping thousands of vulnerable homeowners from losing their homes in England and will start from this Friday.  The scheme is primarily targeted at families [...]

The Bank of England decision today to drop interest rates to 1½ % is the lowest interest rate in the Banks 314 year history, since it was established in 1694. The Banks of England’s reason for another drop in the base rate is their concern about inflation, the costs of imports as sterling is very [...]

In the last two months I have seen nine clients all wishing to remortgage their homes. Some of my clients are at the end of a mortgage deal, others are looking to consolidate their expensive secured loans, unsecured loans and credit card debts into an affordable mortgage deal. Whilst some clients are looking for a [...]

The Council of Mortgage Lenders (CML) warned that the rationing of mortgages will deteriorate in 2009.  The CML felt that homeowners with mortgages were being forced to cope with a dysfunctional mortgage market.  Last year the net mortgage lending was £108billion and this year it is expected to be around £40billion, which is a 60% [...]