moneyQuest | Archived Blogs for 2007

Archived Blogs for 2007


	Commuter towns 'to buck price trends' by Blog Archive 31/12/2007 Commuter towns 'to buck price trends' - Certain areas of London and south-east England are set to enjoy the strongest price gains next year on the back of improved transport connections, Halifax has said.The estate agency has released a study showing what it believes will be the "house price hotspots" ... Read More


	UK needs to become an insulation nation by Blog Archive 27/12/2007 UK needs to become an insulation nation - UK homeowners should seriously consider getting their homes properly insulated.That is according to the National Insulation Association (NIA), which is encouraging Britons to make it their new year's resolution.According to the organisation, over 13 million households in the UK do not have ... Read More


	Bank may cut rates twice by Blog Archive 20/12/2007 Bank may cut rates twice - The Bank of England may choose to cut the base rate of interest twice early on in 2008.That is according to the Royal Institution of Chartered Surveyors (Rics), whose chief economist appeared on Channel Four's 'News at Noon'.Simon Rubinsohn told the programme that the ... Read More


	FTBs can bag a bargain by Blog Archive 20/12/2007 FTBs can bag a bargain - First-time buyers (FTBs) can get their hands on a bargain property as the market is currently positioned in their favour, according to Mighty Homes.The firm says that it is currently a buyers' market and some sellers are willing to accept relatively low offers for ... Read More


	Rics predicts stable market in 2008 by Blog Archive 20/12/2007 Rics predicts stable market in 2008 - The UK housing market is not about to experience a major price correction and property values will level out in the new year.According to the Royal Institution of Chartered Surveyors (Rics), there will be some difficult periods in 2008 but high employment and ... Read More


	Further rate cuts look likely by Blog Archive 19/12/2007 Further rate cuts look likely - The Bank of England's Monetary Policy Committee (MPC) has published the minutes from its December meeting.It shows that all nine MPC members voted in favour of a rate cut and this could mean that further cuts may be just around the corner.Interest rates were ... Read More


	Prices rise most in Bristol by Blog Archive 19/12/2007 Prices rise most in Bristol - It has been revealed that Bristol was the UK which saw the largest property price growth in 2007.According to figures from email4property, the city saw growth of 9.2 per cent, making it the most successful in the country outside of London.The average property in ... Read More


	Prices up in November by Blog Archive 19/12/2007 Prices up in November - New house prices rose in November, spelling good news for homeowners.The latest New Homes Index from Smart New Homes shows that the average new property increased in value by 0.8 per cent between September and October.Annual inflation hit 0.1 per cent, while quarter-on-quarter growth reached ... Read More


	Consumer price inflation holds steady by Blog Archive 18/12/2007 Consumer price inflation holds steady - The Bank of England has revealed that consumer price inflation levelled out in November.A figure of 2.1 per cent was recorded in the month, the same as that seen in October.It is good news for mortgage borrowers and comes despite the majority of analysts ... Read More


	Market will remain buoyant in 2008 by Blog Archive 18/12/2007 Market will remain buoyant in 2008 - House prices will remain strong in 2008, despite the market suffering in recent weeks.According to Connells Survey & Valuation, the UK market has been through a tough time recently and will have to endure some more rough periods.However, the firm remains convinced that ... Read More


	2008 will see prices rise by Blog Archive 17/12/2007 2008 will see prices rise - One prominent industry figure believes that house prices will continue to rise in 2008.Hometrack has revealed that it expects property values to rise by around one per cent in the new year.It comes despite a number of analysts predicting that prices will go flat ... Read More


	Hips are being ignored by Blog Archive 17/12/2007 Hips are being ignored - Home information packs (Hips) are not being used by buyers.That is according to Savills, which says that most agents are reporting that the packs are simply being ignored.Hips were launched for properties with four or more bedrooms amid a storm of controversy in August and ... Read More


	Start thinking about moving over Christmas by Blog Archive 17/12/2007 Start thinking about moving over Christmas - Christmas may be a good time to begin thinking about moving home.That is according to Your Move, which admits that many people would rather not think about moving during the festive period.Despite this, the estate agent believes that people should be preparing for ... Read More


	Hips to be used as bargaining tool by Blog Archive 14/12/2007 Hips to be used as bargaining tool - Homebuyers in England and Wales intend to use the information in Home information packs (Hips) to negotiate a discount on a house.That is according to research from Hyder Consulting, which found that 44 per cent of buyers would ask to pay less ... Read More


	FTBs want deposit break by Blog Archive 14/12/2007 FTBs want deposit break - The Majority of UK first-time buyers (FTBs) would rather be given the deposit for a house than see interest rates cut significantly.New research from Hot Property shows that 62 per cent of FTBs would prefer to receive a deposit for a house as a Christmas ... Read More


	Hips receive mixed reaction by Blog Archive 14/12/2007 Hips receive mixed reaction - Anyone wishing to sell a property of any size in England and Wales must pay for a Home information pack (Hip).Hips are a now a mandatory part of the home-selling process for all properties, despite receiving wide-ranging criticism.The National Association of Estate Agents (NAEA) has ... Read More


	FTB ability to buy varies across the UK by Blog Archive 13/12/2007 FTB ability to buy varies across the UK - There is a huge difference between the types of properties first-time buyers (FTBs) can afford to purchase in different parts of the UK.That is according to Smart New Homes, which says that an FTB can still afford a three-bedroom home in ... Read More


	Market will stabilise by Blog Archive 12/12/2007 Market will stabilise - The UK housing market is set to stabilise next year, according to the National Association of Estate Agents (NAEA).A forecast published by the organisation reveals that it expects house price growth to level out to zero per cent over 2008.Although this may not sound impressive, it ... Read More


	Borrowers opt for tracker mortgages by Blog Archive 12/12/2007 Borrowers opt for tracker mortgages - Fixed-rate mortgages fell in popularity in October, according to the latest figures from the Council of Mortgage Lenders (CML).It came at a time when expectations of a cut to the base rate of interest were growing - expectations that were realised in December.According to ... Read More


	Buy-to-let bites back by Blog Archive 11/12/2007 Buy-to-let bites back - Buy-to-let remains an attractive option for investors, with new research showing that current landlords are confident about the future of the market.A total of 37 per cent of current investors believe that property prices outside of London will rise or remain the static over the next ... Read More


	House price boost in October by Blog Archive 10/12/2007 House price boost in October - UK homeowners have been given a boost with the news that house prices increased by 11.3 per cent in the 12 months to October 2007.The Department of Communities and Local Government (DCLG) has published its house price index, revealing that the average property was ... Read More


	Student buy-to-let offers good returns by Blog Archive 10/12/2007 Student buy-to-let offers good returns - Buy-to-let property investors should look at investing in student properties in order to make quick returns.Assetz says that there is money to be made in letting properties to students because rents are on an upward trend.In fact, according to the latest figures from Savills, ... Read More


	Market is still growing by Blog Archive 07/12/2007 Market is still growing - The housing market in England and Wales is still growing, according to the latest FT House Price Index.Although growth was subdued in November, reaching just 0.5 per cent, the figure was positive and some areas continue to perform well.The index reveals that annual growth reached ... Read More


	Interest rate relief for borrowers by Blog Archive 06/12/2007 Interest rate relief for borrowers - The base rate of interest has been cut for the first time in over two years.Members of the Bank of England's Monetary Policy Committee (MPC) met today (December 6th) to announce the decision.It means that interest rates have fallen from 5.75 per cent to ... Read More


	2008 Prices Will Rise by Blog Archive 04/12/2007 2008 will see prices rise - UK property prices will continue to rise in the new year, although the global credit crunch will ensure price rises are limited.Spicerhaart has published its forecast for 2008, revealing that it believes inflation will reach just two per cent.After 2008 however, the firm believes ... Read More


	Bright future for landlords by Blog Archive 30/11/2007 Bright future for landlords - There is a bright future ahead for the buy-to-let market, according to new research.Zone 4 Property says that growth in the market will remain strong for the next ten years, with a number of key factors boosting tenant demand."The UK property market is essentially driven ... Read More


	No signs of tightening says broker by Blog Archive 30/11/2007 No signs of tightening says broker - Mortgage broker London & Country says that there are "no visible signs" of tightening in the mortgage market.Speaking on BBC Two's 'Working Lunch' programme, David Hollingworth from the firm said that many good deals are still available for borrowers.His comments follow Mintel's claim ... Read More


	More people turn to property for pension by Blog Archive 29/11/2007 More people turn to property for pension - A growing number of people are using property as an investment to fuel their retirement.That is according to Scottish Widows, which says that rising house prices have encouraged people to invest their money in this way.The traditional pension fund is becoming less ... Read More


	Brits struggle with mortgage maths by Blog Archive 26/11/2007 Brits struggle with mortgage maths - New research shows that the majority of Britons do not know how a one per cent difference in mortgage rates transfers into money.According to Nationwide, 75 per cent of respondents failed a test which asked them to work out the difference between a £120,000 ... Read More


	Mortgage borrowers fail to switch by Blog Archive 26/11/2007 Mortgage borrowers fail to switch - Almost one in three homeowners in the UK has had the same mortgage for the last decade.That is according to mform, which says that 50 per cent of people have kept the same deal for five years or more.The firm is urging mortgage borrowers ... Read More


	Mortgage brokers predicting interest rate fall by Blog Archive 01/11/2007 Mortgage brokers predicting interest rate fall - Almost half of mortgage brokers in the UK are bracing for the base rate to fall within the next three months, according to new reports.Figures from GE Money Lending has found that almost 90 per cent of brokers in the UK felt that ... Read More


	UK market will not follow the US by Blog Archive 01/11/2007 UK market will not follow the US - British homeowners can rest easy in the knowledge that there are huge differences between the UK and US property markets.The Royal Institution of Chartered Surveyors (Rics) says that a market collapse like that seen in the States is not likely to happen ... Read More


	100% mortgages are viable option by Blog Archive 31/10/2007 100% mortgages are viable option - An increasing number of first-time buyers (FTBs) are turning to the wide range of mortgage products available to them in order to get onto the property ladder.Key Financial Consultants says that more FTBs are taking out 100 per cent mortgages as house prices rise ... Read More


	Plans for Scottish housing unveiled by Blog Archive 31/10/2007 Plans for Scottish housing unveiled - New plans to make it easier for first-time buyers (FTBs) to get onto the property ladder in Scotland have been published today (October 31st).The Scottish Government has published a document, entitled 'Firm Foundations - The Future of Housing in Scotland'.It calls for at least ... Read More


	Property prices pick up by Blog Archive 31/10/2007 Property prices pick up - The average property in the UK is now valued at £186,044, according to the latest Nationwide house price index.That signals a month-on-month increase of 1.1 per cent, well above expectations and far higher than the 0.7 per cent growth recorded in September."House prices recorded a ... Read More


	Property price growth to hit 5% by Blog Archive 30/10/2007 Property price growth to hit 5% - House prices will increase by around five per cent in 2008, according Assetz.The firm was reacted following the Council of Mortgage Lenders' (CMLs') forecast that growth will reach just one per cent next year.Stuart Law, chief executive of Assetz, said that the market ... Read More


	Stamp duty inequality across UK by Blog Archive 29/10/2007 Stamp duty inequality across UK - Homebuyers in just six per cent of UK local authorities (LAs) paid over a quarter of the total residential stamp duty in 2006/07.That is according to a report by Halifax, which used figures from HM Revenue & Customs (HMRC).According to the study, 26 per ... Read More


	Long-term fixed-rate take-up slow by Blog Archive 25/10/2007 Long-term fixed-rate take-up 'slow' - The number of people who are opting for long-term fixed-rate mortgages is still relatively low it has been revealed.Despite the chancellor Alistair Darling revealing in his pre-budget report that he plans to encourage homeowners to take on this sort of loan, borrowers are said to ... Read More


	Lloyds launches new fixed-rate deal by Blog Archive 25/10/2007 Lloyds launches new fixed-rate deal - Lloyds has announced the launch of its latest mortgage product – an 18-year fixed rate mortgage with rates starting at 5.99 per cent.The new product will set buyers back £99 when they apply and aims to attract those who are still cautions about the ... Read More


	Using plastic to pay of mortgage not always bad by Blog Archive 24/10/2007 Using plastic to pay of mortgage 'not always bad' - Using a credit card to pay of a mortgage is not necessarily a bad thing, as long as it is not causing homeowners to spiral further into debt. According to the Debt Advice Bureau, using plastic to cover repayments can ... Read More


	Life insurance must be prioritised by Blog Archive 24/10/2007 Life insurance 'must be prioritised' - Norwich Union is warning people to ensure life insurance is seen as a top priority alongside paying off the mortgage. The insurance firm says that there are very few sections of society for whom taking out life insurance would not be a necessity.Research by ... Read More


	Nationwide cuts rates on mortgages by Blog Archive 24/10/2007 Nationwide cuts rates on mortgages - Nationwide has revealed that it will be making some substantial changes to its fixed-rate and 25-year mortgages.From Friday, the rates on its five-year fixed-rate mortgage will be cut to 5.63 per cent while the fees for those opting for such a product will be ... Read More


	'Many approaches to green mortgages' by Blog Archive 23/10/2007 'Many approaches to green mortgages' - A mortgage lender has said that as there is no definition of what a green mortgage is, each provider has something different on offer to customers.A spokeswoman from the Co-operative Bank says that there is a "whole range of different approaches" to green mortgages ... Read More


	Paragon 'may push up variable mortgage rates' by Blog Archive 23/10/2007 Paragon 'may push up variable mortgage rates' - Mortgage lender Paragon has warned that it may have to push up rates on its variable-rate mortgage over the next few weeks.Nigel Terrington, chief executive of the firm, said that although it was not hit directly by the sup-prime mortgage crisis which ... Read More


	Buy-to-let sector doesn't exist in Europe by Blog Archive 19/10/2007 Buy-to-let sector 'doesn't exist' in Europe - The buy-to-let mortgage sector, increasingly popular in the UK, is an alien concept to our European neighbours, according to a recent survey.Financial services firm Birmingham Midshires, conducted a study of European mindsets with regard to the housing market.While British lenders offer specially-tailored products ... Read More


	Young people advised to shop around for life insurance by Blog Archive 19/10/2007 Young people advised to 'shop around' for life insurance - Young people who opt to get their life insurance from their mortgage lender because "it's the easiest thing to do" could be paying higher premiums than they need to.That is the warning from Claire Moyles of Sainsbury's Bank who said ... Read More


	Scottish house prices on the up by Blog Archive 19/10/2007 Scottish house prices on the up - Annual house price inflation in Scotland has reached 14.2 per cent according to a new report from Bank of Scotland.In its latest Quarterly Scottish House Price report, the lender revealed prices rose by 0.7 per cent in the third quarter, with the Scottish ... Read More


	British landlords thriving by Blog Archive 18/10/2007 British landlords thriving - Europe's private rented sector is thriving but things look better for UK buy-to-let investors than for those in other European Union countries.Birmingham Midshires carried out research into the buy-to-let sectors in the UK, Germany, Portugal and Poland.The study found that landlords in this country endure the ... Read More


	Mortgage lending figures paint contrasting pictures by Blog Archive 18/10/2007 Mortgage lending figures paint contrasting pictures - Two sets of mortgage lending figures have been released today (October 18th), reporting different fortunes for the market.The Council of Mortgage Lenders (CML) is reporting that gross lending fell by 12 per cent between August and September, while the British Bankers' Association (BBA) ... Read More


	Landlords must diversify their portfolios by Blog Archive 17/10/2007 Landlords must diversify their portfolios - Buy-to-let property investors are being advised to diversify their portfolios in order to improve returns.Investment consultancy Property for Life says that inexperienced investors are less likely to have a diverse portfolio and this can lead to problems if one section of the market suffers.The ... Read More


	Self-cert mortgages have changed to remain relevant by Blog Archive 17/10/2007 Self-cert mortgages have changed to remain relevant - The self-certification mortgage has been labelled as innovative by one expert.Products of this kind are designed for the self-employed and those who have difficulty in providing proof of their employment.Alexander Hall says that the deals are some of the most innovative in ... Read More


	Interest rates set to fall? by Blog Archive 16/10/2007 Interest rates set to fall? - The base rate of interest looks set to be cut in the coming months as new figures show that inflation remained low in September.The Office of National Statistics (ONS) has revealed that Consumer Price Index (CPI) inflation reached 1.8 per cent in the month.That ... Read More


	Hips will increase energy efficiency awareness by Blog Archive 11/10/2007 Hips will increase energy efficiency awareness - Energy efficiency is set to be pushed to the forefront of the public consciousness as a result of Home information packs (Hips).That is according to website DownwithCO2, which says that the Energy Performance Certificates (EPCs) included in the packs will make people more ... Read More


	London market has never-ending circle of price rises by Blog Archive 07/09/2007 London market has "never-ending circle" of price rises - Many potential young homebuyers are being kept out of the London market due to a "never-ending circle" of price rises.High demand for rental property and a real desire among most to own a home are forcing prices up.Alexander Rawlinson from Ludlow ... Read More


	Base rate frozen - future uncertain by Blog Archive 06/09/2007 Base rate frozen - future uncertain - The Bank of England has announced that the base rate of interest will remain frozen at 5.75 per cent.Following five rises in 13 months, the Bank's Monetary Policy Committee (MPC) seems to be adopting the widely predicted 'wait and see' approach.Most economists had ... Read More


	Affordable affluence in the UK by Blog Archive 04/09/2007 Affordable affluence in the UK - It turns out that home seekers can get their hands on an attractive property in a nice part of the UK at a reasonable price.The Royal Bank of Scotland (RBS) has published its Affordable Affluence Index which highlights parts of the country where the ... Read More


	Bank expected to freeze base rate by Blog Archive 04/09/2007 Bank expected to freeze base rate - The Bank of England is not expected to increase the base rate when its Monetary Policy Committee (MPC) meets on September 6th.Global Insight's Howard Archer says that he does not anticipate a further rise, which would increase the rate to six per cent.Following ... Read More


	Housing market is landing softly by Blog Archive 04/09/2007 Housing market is landing softly - The UK housing market is experiencing a "typical soft landing", according to Rightmove.With some parts of the media predicting a property market crash, the firm has moved to allay fears for homeowners.Rather than predicting doom and gloom, Rightmove says that the slowing of the ... Read More


	British home moving habits by Blog Archive 03/09/2007 British home moving habits - Over half of Britons do not like moving home, yet most will do so five times in their lifetime.Zurich Insurance found that 53 per cent of Brits do not enjoy moving, but the average person in this country will live in and own five properties ... Read More


	Landlords have confidence in sector by Blog Archive 03/09/2007 Landlords have confidence in sector - Landlords are extremely confident in the UK buy-to-let sector at the moment.Research by Paragon Mortgages shows that investors are as confident now in the market as they have ever been.It comes despite rising property prices and increasing base rates, which have jumped from 4.5 ... Read More


	Green mortgages on the up by Blog Archive 31/08/2007 Green mortgages on the up - Despite still being a "niche" product, green mortgages are said to be growing in popularity.That is according to Norwich and Peterborough Building Society, which says that people are becoming more aware of the products.It believes that a general increased awareness of green issues is ... Read More


	Buy-to-let investors stabilising the market by Blog Archive 29/08/2007 Buy-to-let investors stabilising the market - The UK property market is being stabilised by buy-to-let landlords, according to a new report.Paragon Group says that landlords, who according to the Council of Mortgage Lenders accounted for 12 per cent of all mortgage loans in the first half of the year, are ... Read More


	Countryside popular with British homebuyers by Blog Archive 28/08/2007 Countryside popular with British homebuyers - The ideal home for the average Briton has three bedrooms and is set in the countryside.That is according to new research by Halifax, which points out that most buyers would like their property to be detached.According to the bank's research, 30 per cent of ... Read More


	Music festivals boost house prices by Blog Archive 28/08/2007 Music festivals boost house prices - The UK's vast array of music festivals may be helping to increase house prices in the areas that host them.Rightmove says that places such as Glastonbury and the surrounding areas benefit from the festival because it offers revellers the chance to see some places ... Read More


	Alcohol-induced obesity to drive up insurance premiums by Blog Archive 24/08/2007 Alcohol-induced obesity to drive up insurance premiums - Britain is heading towards an obesity epidemic caused in part by excessive alcohol consumption - which could affect life insurance premiums, a new report from Standard Life warns.The insurance company found that the average British male adds an extra day's worth of ... Read More


	Mortgages paid off by age of 55 by Blog Archive 24/08/2007 Mortgages 'paid off by age of 55' - The proportion of Britons that have paid their mortgages off drops considerably at age 55, research by Birmingham Midshires has revealed.Its survey showed that the proportion of people in their early 50s who are still paying off a mortgage is still considerably ... Read More


	Interest-only mortgages can help FTBs by Blog Archive 22/08/2007 Interest-only mortgages can help FTBs - First-time buyers (FTBs) can offer themselves some "financial breathing space" by taking out an interest-only mortgage.The Council of Mortgage Lenders (CML) says that this kind of deal can be helpful for young buyers but they must be sure to begin paying off the capital ... Read More


	Mortgage lending high in July by Blog Archive 21/08/2007 Mortgage lending high in July - The Council of Mortgage Lenders (CML) is reporting that gross mortgage lending reached record levels in July.A total of £34.4 billion was lent, setting a new record for the month and signalling a massive increase on the figure recorded one year ago.In July 2006 ... Read More


	Warning to new landlords over preparation by Blog Archive 14/08/2007 Warning to new landlords over preparation - Landlords are being warned that they must be up to date on the latest laws before buying their first buy-to-let property.A lack of research can lead to problems for many new landlords, according to the National Landlords' Association (NLA).However, the organisation also points ... Read More


	Zero-carbon housing target welcomed by Blog Archive 09/08/2007 Zero-carbon housing target welcomed - A new deal to provide zero-carbon housing in the UK has been hailed by the Housing Minister.Yvette Cooper has expressed her pleasure at the agreement, which brings together house builders, councils and the government in a green pledge.The Communities and Local Governments 2016 Commitment sets ... Read More


	FTBs 'need massive pay rise' by Blog Archive 06/08/2007 FTBs 'need massive pay rise' - Only a significant overnight pay increase would enable most first-time-buyers to afford the average house price, research has found.Figures put together by Firstrung, a mortgage introducer, revealed that house price inflation had left the average wage settlement standing.A period of relatively low inflation and ... Read More


	Life insurance packages 33% cheaper than 1997 by Blog Archive 24/07/2007 Life insurance packages 33% cheaper than 1997 - Life insurance policies could be set to become increasingly popular among Britons as premiums decrease in price. Figures from insurer Standard Life show that an average life insurance package has decreased by almost one third over the last decade. The group indicates ... Read More


	Give your home the best chance of a sale by Blog Archive 20/07/2007 Give your home the best chance of a sale - Homeowners are being offered some top tips on how to sell their home after it was revealed that fewer people are applying for mortgages.The Building Societies Association claims that mortgage lending figures dropped between May and June as potential buyers ... Read More


	Hips blow in House of Lords by Blog Archive 19/07/2007 Hips blow in House of Lords - Home information packs (Hips) should be revoked, according to the House of Lords and the National Association of Estate Agents (NAEA).The controversial packs were the subject of another debate among Lords, with peers voting 186 to 160 in favour of calling upon the ... Read More


	Housing market slows in June by Blog Archive 19/07/2007 Housing market slows in June - The housing market in June was subdued as consumer confidence fell.Sales throughout the month remained stable but the number of people interested in buying a new property fell month-on-month by six per cent.In addition, the number of homes on the market also fell by ... Read More


	Location key to property value by Blog Archive 17/07/2007 Location key to property value - The location of a property is still the most important factor in defining its value.New research by Savills shows that buyers consider the surrounding neighbourhood to be the most important ingredient when it comes to a home's worth.Over 500 households were questioned as part ... Read More


	Darling plans mortgage shake-up by Cheryl 10/07/2007 Darling plans mortgage shake-up - Mortgage providers need to make long-term fixed-rate deals more readily available and more houses need to be built.The chancellor of the exchequer Alistair Darling believes that these things need to be achieved if the UK is to avoid a housing and economic disaster.In an interview ... Read More


	House prices grow slower by Blog Archive 10/07/2007 House prices grow slower - The latest figures on the UK housing market show that prices have continued to grow but at a slower rate.Figures for the second quarter of 2007 show that house prices across the entire country have experienced growth between April and June.London remains the country's most ... Read More


	High LTV mortgage growth reported by Blog Archive 06/07/2007 High LTV mortgage growth reported - High loan to value (LTV) mortgages are more popular than ever as interest rates hit affordability, a new study from property company Spicerhaart suggests. According to the research, mortgages offering at least 95 per cent of the property's value took up 19 per cent ... Read More


	Mortgages costing third of incomes by Blog Archive 05/07/2007 Mortgages 'costing third of incomes' - Mortgage holders in their 20s are spending an average of a third of their take-home income on mortgage repayments, a new study has found. According to research conducted by the Woolwich, the average young homeowner spends 32.4 per cent of their income on mortgage ... Read More


	CML welcomes responsible lending findings by Blog Archive 05/07/2007 CML welcomes responsible lending findings - The Council of Mortgage Lenders (CML) has welcomed the Financial Standards Agency's (FSA's) findings that mortgage lenders are not miss-selling subprime mortgages. The CML said, however, that lenders needed to remain responsible in their lending practices in order to prevent borrowers falling in to ... Read More


	Homebuyers favour web searches by Blog Archive 22/06/2007 Homebuyers favour web searches - Modern house-hunting is being changed by the Internet, as homebuyers in Britain are more likely to than ever before to go online when looking for a new home, new research suggests.A recent poll by Halifax Estate Agency discovered that ten per cent of homeowners started ... Read More


	Woolwich unveils new buy-to-let product by Blog Archive 22/06/2007 Woolwich unveils new buy-to-let product - Woolwich has unveiled a new buy to let 'fix and track' mortgage for property investors.Designed to combat recent swap rate volatility, the new home loan initially offers customers a one fixed rate term at 5.99 per cent.The initial rate reverts to a lifetime tracker ... Read More


	Nationwide calls for first time buyer focus by Blog Archive 22/06/2007 Nationwide calls for first time buyer focus - Nationwide is urging Gordon Brown to put the plight of first-time buyers at the top of his agenda when he takes up his new post as prime minister on June 27th.The building society wants the new prime minister to make significant changes ... Read More


	Interest only mortgages proving popular by Blog Archive 21/06/2007 Interest only mortgages proving popular - New research has revealed that interest only mortgages are becoming increasingly popular in the UK.Figures from Paragon Mortgages have found that interest only mortgages have become the leading force in the market, while repayment mortgages have seen a decline.Repayment mortgage have seen their market ... Read More


	First time buyers suffer as buy-to-letters boom by Blog Archive 20/06/2007 First time buyers suffer as buy-to-letters boom - First time buyers are struggling to get a foothold on the property ladder because of the booming buy-to-let market, it has been claimed.Many first time buyers are struggling to get onto the property ladder as prices continue to rise, but the problem ... Read More


	Young Brits keen to own property by Blog Archive 19/06/2007 Young Brits keen to own property - Four-fifths of young Britons are eager to own their own property, according to a new report.Research carried out by Alliance & Leicester found that Britons between the ages of 16 to 21 have not been put off by rising house prices and remain ... Read More


	Unexpected bills cause financial headache for Brits by Blog Archive 19/06/2007 Unexpected bills cause financial headache for Brits - Unexpected bills accounted for a combined total of £48.7 billion in the UK last year, a new study has found.Research carried out by Abbey discovered that four in five people were struck by unexpected bills in the past year, with repairs to ... Read More


	Critical illness firms urged to gain more trust by Blog Archive 18/06/2007 Critical illness firms urged to gain more trust - Critical illness providers are being called on to make a greater effort to build trust among consumers.The industry has suffered from bad publicity surrounding claims in recent times and as such efforts need to be made to build relationships with consumers ... Read More


	Mortgage lending helps Nationwide net profits by Blog Archive 17/05/2007 Mortgage lending helps Nationwide net profits - Healthy mortgage lending figures have led Nationwide to post pre-tax annual profit rises of 17 per cent.In the 12 months up to April 4th, the building society earned some £652 million in profits.Lending for property purchases increased by 92.7 per cent over the ... Read More


	Mortgage applications on the increase by Blog Archive 16/05/2007 Mortgage applications on the increase - Mortgages are being taken on in ever greater numbers despite a succession of recent interest rate rises, new research has indicated.Andrews Mortgage Services estimates that the submission of mortgages has increased by 47 per cent compared to the same period in 2006.This comes despite ... Read More


	Mortgage lenders make move after rate rise by Blog Archive 15/05/2007 Mortgage lenders make move after rate rise - A number of financial providers have taken steps to increase the rates on their mortgage packages following last week's decision by the Bank of England's monetary policy to raise interest rates by a quarter point to 5.5 per cent.Moneyfacts claims that 13 ... Read More


	Insurance fraud coasting £4m a day by Blog Archive 09/05/2007 Insurance fraud coasting £4m a day - Insurance fraud is costing UK insurers - and thus the Britons who pay their premiums - some £4 million a day, a survey has found.The Association of British Insurers (ABI) study discovered that a tenth of adults had admitted to filing a fraudulent ... Read More


	Bank holiday shopping fear by Blog Archive 08/05/2007 Bank holiday shopping fear - Fears are growing that people will turn to loans to get out of debt as the latest figures show that fewer Britons spent the spring bank holiday shopping.According to retail analysis company SPSL, people are curbing the saving as debt is kicking in.Dr Tim Denison, ... Read More


	Standard Life denies fewer critical illness claims by Blog Archive 30/04/2007 Standard Life denies fewer critical illness claims - Standard Life has released figures which show that it declined fewer critical illness insurance claims last year.The insurer said that declined claims dropped by 7.5 per cent last year and that the average pay-out was £52,138, while its largest was for £500,000."There ... Read More


	Injuries hitting finance by Blog Archive 30/04/2007 Injuries hitting finance - The International Labour Organisation (ILO) has called for better efforts to wipe out work-related accidents.It found that there were 2.2 million deaths from work-related accidents and 270 million injuries each year, equating to an equivalent loss of four per cent of global GDP and for those ... Read More


	Dispute over illness cover by Blog Archive 27/04/2007 Dispute over illness cover - Consumers who are enticed by no claims discount offers on critical illness packages could count the cost, a spokesperson for private healthcare provider Bupa has commented.Fiona Harris, head of personal markets for the group's health insurance arm, says that no claims discounts will lead to ... Read More


	Bigger banks are better for secure loans by Blog Archive 25/04/2007 Bigger banks 'better for secure loans' - Big banks are better able to offer sub-prime secure loans to customers than their smaller competitors, the British Bankers' Association (BBA) has said.It states that with mergers creating much larger banks than ever before, they are more likely to be "sympathetic"."Increased size…means that ... Read More


	Government bill ignores pensions lifeboat by Blog Archive 19/04/2007 Government bill 'ignores pensions lifeboat' - Workers may wish to consider taking out life insurance or term assurance as the government managed to pass a pensions bill without the creation of a "pensions lifeboat" for those struck by failed occupational pension schemes.Ministers defeated the cross-party amendment by 22 votes in ... Read More


	Interest rates tipped to rise by Blog Archive 18/04/2007 Interest rates tipped to rise - Interest rates are firmly expected to rise next month after inflation broke the three per cent barrier.The Consumer Price Index (CPI) the government's preferred measure of inflation is now at 3.1 per cent.The Bank of England's monetary policy committee (MPC) next meets at the ... Read More


	Shifting earth leading to home improvement loans by Blog Archive 12/04/2007 Shifting earth leading to home improvement loans - Britons are likely to need loans for home insurance as a new survey reveals an increase in subsidence damage. Halifax Home Insurance points to figures showing since 2002 claims have risen 50 per cent where the ground under a home sinks or ... Read More


	Mortgage rates putting buyers off by Blog Archive 12/04/2007 Mortgage rates putting buyers off - The Royal Institution of Chartered Surveyors (Rics) has said that following three increases in interest rates, buyers are starting to leave the market as prices and mortgages go up.March was the fourth month in a row the number of new buyer enquiries fell, according ... Read More


	The 6-times salary mortgage by Blog Archive 11/04/2007 The 6-times salary mortgage - First-time buyers are so desperate to get onto the housing ladder that lenders now offering to lend sums six-times the applicant's salary.With average prices hitting £194,400, which is over eight times average earnings of £23,600 a year, lenders are upping what they lend to first-time ... Read More


	Enhanced critical illness cover launched by Blog Archive 11/04/2007 Enhanced critical illness cover launched - Critical illness cover firm LV=, part of Liverpool Victoria, has announced that it is to add five more conditions to its cover as well as adopting the Association of British Insurer's (ABI's) wording recommendations.The firm said that aplastic anaemia, cardiomyopathym, liver failure, progressive supranuclear ... Read More


	Young people ignoring life insurance by Blog Archive 04/04/2007 Young people ignoring life insurance - Young people are increasingly likely to be ignoring life insurance cover, with the latest figures showing that the amount of under-35s taking cover declined by five per cent.According to LifeSearch, the amount of people in this age group taking out policies with it has ... Read More


	Britain's wealth tied to the home by Blog Archive 04/04/2007 Britain's wealth tied to the home - Most of Britain's wealth is tied up in the bricks and mortar of their home and mortgages, a new poll has found. Datamonitor research shows that 55 per cent of the UK's wealth is held in property, with this set to rise to ... Read More


	Homeowners fear rate rise by Blog Archive 02/04/2007 Homeowners fear rate rise - Current owners and prospective first-time buyers are waiting anxiously to discover if the Bank of England's monetary policy committee (MPC) will raise, lower or maintain the base rate of interest on Thursday.Most analysts expect a rise over the coming months, but they are divided as ... Read More


	25-year fixed-rate mortgage launched by Blog Archive 02/04/2007 25-year fixed-rate mortgage launched - Nationwide has launched one of the longest fixed-rate mortgage deals ever, promising 5.49 per cent for 25 years. With interest rates rising three times in recent months and fears that the Bank of England may hike them once more, consumers are worried that they will ... Read More


	New insurance rules by Blog Archive 30/03/2007 New insurance rules - Good news for anyone with insurance as the Financial Services Authority (FSA) and businesses have agreed to new guidelines for payment protection insurance (PPI).Anyone who has taken out life or other insurance with the single premium payment protection insurance should be able to cancel their PPI ... Read More


	Rise in critical illness payments for Legal & General by Blog Archive 27/03/2007 Rise in critical illness payments for Legal & General - Legal & General has reported a rise in critical illness payments in the past year whilst the rejection rate is down by nearly a fifth.The insurer cited innovations such as tele-medical interviewing and reducing non-disclosure for the improvements that lead ... Read More


	Rate rises shaking FTBs by Blog Archive 26/03/2007 Rate rises shaking FTBs - The rise in interest rates has shaken first-time buyers (FTBs), new research has found.According to fool.co.uk, nine in ten FTBs are opting for fixed rates and 80 per cent of those who remortgage their home are choosing the same.David Kuo, head of personal finance at ... Read More


	Green mortgages taking off by Blog Archive 23/03/2007 Green mortgages taking off - Firms have responded to the chancellor's proposals for greener mortgages and more are announcing plans to launch them.Following the Budget in which Gordon Brown said he wants to "create a new market" of rewarding homes that are better for the environment, lenders are "convinced" it ... Read More


	Budget to help green homes by Blog Archive 22/03/2007 Budget to help green homes - Buyers looking to purchase a zero emission 'green home' will get a boost from the chancellor after he announced in yesterday's Budget that he is to remove stamp duty from such purchases.In addition, Gordon Brown stated that he will create green mortgages, a move ... Read More


	Rate hold favoured by most of MPC by Blog Archive 22/03/2007 Rate hold favoured by most of MPC - The Bank of England's monetary policy committee (MPC) voted 8-1 in favour of maintaining interest rates at 5.25 per cent earlier this month, meeting minutes have revealed.MPC member David Blanchflower was the sole dissenter, with the good news for homeowners being that ... Read More


	Britannia offers new fixed-rate mortgages by Blog Archive 15/03/2007 Britannia offers new fixed-rate mortgages - A new range of low-rate three and five-year fixed-rate mortgages is on its way from Britannia Mortgages.The lowest rate five-year fixed option offers 5.24 per cent and the lowest rate three-year product gives customers a 5.34 per cent rate with arrangement fees of £499 ... Read More


	Fixed-rate mortgage spike owes to certainty by Blog Archive 13/03/2007 Fixed-rate mortgage spike owes to certainty - Increasing numbers of prospective homeowners are taking on a fixed-rate mortgage, Halifax has commented.According to Paul Fincham, spokesperson for the group, traditionally a third of people take out fixed-rate packages.However, during the past two years there have been "significant spikes" in the take-up ... Read More


	Legal & General launches new critical illness product by Blog Archive 13/03/2007 Legal & General launches new critical illness product - Legal & General has announced that its new critical illness product will be covering three additional illnesses.Incorporating encephalitis, lupus and primary pulmonary hypertension into its new package, the policy also includes mandatory provisions as created by the Association of British Insurers ... Read More


	CML: Record number for fixed-rate loans by Blog Archive 13/03/2007 CML: Record number for fixed-rate loans - Increasing numbers of consumers looking to get on to the property ladder are taking out fixed-rate mortgage packages, research from the Council of Mortgage Lenders (CML) shows.Figures comprising part of the group's monthly survey show that first-time buyers accounted for 85 per cent ... Read More


	GMAC-RFC broadens mortgage choice by Blog Archive 12/03/2007 GMAC-RFC broadens mortgage choice - GMAC-RFC has announced that it has reduced rates on a number of its mortgage packages.Incorporated within the group's two-year low fix products are reductions to 5.59 per cent, compared to 5.89 per cent for its core products.The low fix packages were created to allow people ... Read More


	Skipton offers new base rate tracker mortgages by Blog Archive 09/03/2007 Skipton offers new base rate tracker mortgages - As industry experts predict that the Bank of England's recent move to freeze interest rates is just a temporary respite for savers, Skipton has announced the launch of its new three and five-year tracker mortgages.With both the 3-year and 5-year products capped ... Read More


	Nationwide to set up specialist lending team by Blog Archive 07/03/2007 Nationwide to set up specialist lending team - A new team will be designated to focus on intermediary and specialist lending after the planned merger with Portman Building Society, Nationwide has announced.Both Portman and Nationwide, which operates through its subsidiary UCB in the specialist mortgage market, are keen to build ... Read More


	Higher stamp duty hits one in five by Blog Archive 05/03/2007 Higher stamp duty hits one in five - One in five homes are now subject to stamp duty, HBOS has revealed, after conducting an analysis of house prices by postcode across England and Wales.Over the last five years, there has been a 281 per cent rise in the number of ... Read More


	Personal finance 'more terrifying than terrorists' by Blog Archive 02/03/2007 Personal finance 'more terrifying than terrorists' - Personal finance is seen by most Britons as more terrifying that the threat of a terrorist attack, a new survey has found. According to Abbey, climate change and everyday crime also cause much fewer sleepless nights than money worries. It discovered that finances ... Read More


	New mortgages from A&L by Blog Archive 01/03/2007 New mortgages from A&L - Alliance & Leicester has announced a series of new mortgage products available from today.The lender said that its new stepped mortgage, new five year discount and remortgage two year base rate tracker would help first-time buyers in particular.Stephen Leonard, director of mortgages at Alliance & ... Read More


	Workers going creative to avoid loans by Blog Archive 01/03/2007 Workers going creative to avoid loans - Workers are going creative to gain £1 billion in extra cash and to avoid taking out a personal loan - but at the risk of their job.More than a fifth of workers admits to regularly fiddling their expenses, a Travelodge study found, such ... Read More


	Interest rate hike yet to hit mortgage borrowing by Blog Archive 28/02/2007 Interest rate hike 'yet to hit mortgage borrowing' - The demand for mortgages in January continued "stable" in spite of the interest rate hike, the British Bankers' Association has found.Gross lending for the month was at £16.6 billion, 15 per cent higher than one year previously, and the average loan ... Read More


	Halifax: Beware of inheritance tax by Blog Archive 26/02/2007 Halifax: Beware of inheritance tax - Halifax has issued a warning that around 4.3 million homes could be liable for inheritance tax (IHT) by 2020 if the threshold is only increased in line with retail price inflation.The bank said that the average house price in 236 postcodes districts is already ... Read More


	Critical illness life insurance warning by Blog Archive 23/02/2007 Critical illness life insurance warning - Anyone purchasing critical illness insurance cover has been warned to fully disclose any medical conditions no matter how small it may appear, otherwise they risk having their claim denied. According to insurance firm BestDealInsurance.co.uk, around 25 per cent of all critical illness claims are ... Read More


	A&L profits up by Blog Archive 22/02/2007 A&L profits up - Alliance and Leicester (A&L) has posted annual profits of £585 million, up seven per cent on 2005's results.Pre-tax profits totalled £569 million, up four per cent year-on-year, as the bank outperformed expectations, with much of this coming from 'strong franchise growth'.Net mortgage lending stood at £4.9 ... Read More


	52-year mortgage warning by Blog Archive 21/02/2007 52-year mortgage warning - Lenders are extending mortgage terms so that many first-time-buyers could be facing a 52-year-long mortgage, a financial expert has said.According to Julia Harris, an analyst at Moneyfacts, the standard term of 25 years is "no longer considered sufficient" for many first-time-buyers. "For many years the standard ... Read More


	A&L warns against blowing bonuses by Blog Archive 21/02/2007 A&L warns against blowing bonuses - Alliance & Leicester has warned workers fortunate enough to receive a bonus not to spend it all in one go.The lender claims that four in five Britons who do receive a bonus have mentally spent it before the cash is even in their accounts, ... Read More


	BBA: Loans up by Blog Archive 20/02/2007 BBA: Loans up - The amount spent on loans in January rose by £21.9 billion on December's figures, the strongest monthly rise for over nine months, the British Bankers' Association has announced.This figure was a 1.7 per cent increase on the previous month, bringing the total amount of lending up ... Read More


	A&L: Investor landlord activity up by Blog Archive 06/02/2007 A&L: Investor landlord activity up - Alliance & Leicester has announced that the buy-to-let mortgage continues to be popular after noting an increase in activity in December.According to the lender's figures, 70 per cent of all buy-to-let applications in December were for mortgage products under 75 per cent loan-to-value, nearly ... Read More


	Lifetime mortgage popularity grows by Blog Archive 02/02/2007 Lifetime mortgage popularity grows - Lifetime mortgages are continuing to grow in popularity, new figures show.According to the Council of Mortgage Lenders (CML), the total value of outstanding lifetime mortgages rose from £5.3 billion at the end of 2005 to £6.6 billion a year later."The trend towards smaller loan amounts ... Read More


	Nationwide welcomes super-casino by Blog Archive 01/02/2007 Nationwide welcomes super-casino - Nationwide has welcomed the government's decision to build the first super-casino in Manchester.The building society claims that not only will it bring jobs, but it will help drive up demand for housing in the city."This could be good news for house prices in Manchester," said Fionnuala ... Read More


	Repossessions up 65% by Blog Archive 01/02/2007 Repossessions up 65% - The number of repossessions soared 65 per cent in 2006, new figures reveal. According to the Council of Mortgage Lenders (CML), there were 17,000 repossessions last year - 65 per cent more than in 2005. In addition, the CML predicts the Bank of England's decision to ... Read More


	Under-35 FTBs struggling by Blog Archive 31/01/2007 Under-35 FTBs struggling - First-time buyers (FTBs) under the age of 35 are a diminishing breed it seems as new figures show that the majority of this age group cannot afford their own property.According to the Propertyfinder survey, only 49 per cent of under-35s are homeowners, compared to 59 per ... Read More


	Sometimes it's cheaper to borrow more, study finds by Blog Archive 31/01/2007 Sometimes it's cheaper to borrow more, study finds - It can be cheaper to take out a large loan than a small one, new research has shown. This is because many lenders charge lower interest rates for larger loans than they do for small ones, meaning repayments can actually be ... Read More