Archive for the ‘Homeowner’ Category

New Fixed Rate Secured Loan

Link Loans, secured loan lenders, have launched a new secured loan product with a fixed rate for 3 years, This new loan is available to both employed and self-employed borrowers, with a maximum LTV(Loan To Value) of 75%. (more…)

House Prices Lowest In 16 Months

A new survey from the Royal Institution of Chartered Surveyors indicates that House prices in England and Wales experienced their largest fall in September since May 2009.

The RICS house price index dropped to -36 in the three months to September from -32 in the three months to August, a drop that the RICS has blamed on supply pressures as homeowners’ rush to sell before public spending cuts kick in next year. (more…)

Home Loan Approvals Are Up

Home Loans

Home loan approvals rose a little in March, after a slight drop in February, almost 20% up on the year. Mortgage lending has eased off as homeowners paid off debt.

Approved loans for house purchases rose to 34,905 in March from 33,360 in February and up from 29,212 in March 2009 according to The British Bankers’ Association.

The BBA said the figures indicated the effect of the reversal of a temporary increase in the property tax threshold at the start of the year. This had impacted the demand for home loans in February. (more…)

UK Home Owners Inject £4 Billion Equity

Home Equity

UK home owners injected more than £4 billion of equity into their homes in the 4th quarter of 2009 as record low interest rates encouraged home owners to pay down their debt.

Figures release by the Bank of England on Tuesday show home owners added £4.038 billion of housing equity between October and December, the equivalent of 1.6% of post-tax income. (more…)

House Prices May Dip Again

House Prices May Dip

The housing market may take another dip as potential buyers struggle to get mortgages according to Bank of England policy maker Kate Barker.

The global credit crisis saw house prices in the UK drop by 20% at the lowest point as banks wary of risking new lending withdrew from the market and confidence was dented.

The market has however come back strongly since hitting bottom.

Barker, who has penned reviews of Britain’s housing supply and planning for the government and helps to set the interest rate said she had been surprised by the rebound.

“It seems more likely than not to me that mortgage finance is clearly not going to be available going forward on the terms it used to be,” Barker told MPs. (more…)

House Prices Up 6.1% In The UK

Rising House Prices

House prices in England and Wales are now 6.1% higher than they were a year ago, the largest monthly rise since April 2007 according to a survey by Right Move.

The average property price nationally in February was £229,398 a rise of 3.2% on January.

In London prices were up 5% on the month to a record £427,987, prices are now higher then at the peak of the property boom in 2007 after rising 10.3% over the last year. (more…)

Information on Secured Home Loans

There are different types of loans you can take out. A secured loan is where the person borrowing puts up one of their assets such as their home. If the person defaults on paying his or her secured home loan, than the creditor will take the home. The creditor can sell the home to make up for the money that was owed to them yet it was not paid to them.

There are wonderful benefits when you choose to take out one of the secured home loans. If you choose to take out one of the secured home loans that offer extra benefits you will be pleasantly surprised at the rewards. (more…)

Loans For House Purachases Highest In 2 Years

Loans Rise

Approved House purchase loans rose to a high of 53,300 in October a rise of 9% over September and up 43% from a year ago, said the Council of Mortgage Lenders.

“The amount of buyers has risen from a trough in January 2009 when only 23,000 loans were advanced. It is now up nearly 100 percent from that low point,” the CML stated.

Remortgaging loan numbers remain low but they’re not falling, they’re holding steady at 33,000 the same figure as September. However this is still one of the weakest figures since the records began in 2002.

First Time Buyers Push To Beat Stamp Duty

Stamp Duty

First time buyers are going to find making that first leap on to the property ladder an almost impossible feat as prices continue to rise, demand outstrips supply and lenders remain strict in their lending.

Considering the cash deposit that is expected by most banks for a mortgage it will be very difficult for many first time buyers to attain that first step on the property ladder.

Thousands of property buyers are trying to benefit from the stamp duty holiday before it ends on 31st December. (more…)

House Prices Increase Reports Land Registry

House Prices

October saw house prices rise by 0.6% according to a survey by the Land Registry

This is now the fifth month in a row that prices have risen said a Land Registry spokesman.

The average house price is now £159,546, which is 3.4% lower than October last year.

North West England saw the biggest rise at 1.9% while Wales experienced the largest fall of 2.3%. (more…)