Mortgages should be capped
The government should consider imposing caps on the amount mortgage companies can lend to homebuyers, the deputy governor of the Bank of England has suggested. Sir John Gieve, who is…
Tag: bank of england
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Bank of England in crisis talks with building societies
The Bank of England is in talks with seven building societies hoping to renegotiate emergency funds made available during the credit crunch. While the building societies – including Chelsea, Yorkshire…
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A bad time to save?
Meanwhile, consumers are saving less and paying off debts faster, according to research from Nationwide. Less than half of consumers save money regularly, with 25 per cent saving nothing at…
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Abbey loosens its deposit requirements
Meanwhile Abbey National, the countryâs second-largest mortgage lender, has announced that it will relax lending criteria on its most popular loans tomorrow. It is lowering the minimum deposit required for…
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Nationwide retracts mortgage promise
The UK’s biggest building society, the Nationwide no longer promises new borrowers that it will peg its variable rate mortgages to the Bank of England base rate. Existing customers on…
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Time to nationalise the entire banking system?
Governor of the Bank of England Mervyn King has raised the prospect of the wholesale nationalisation of the British banking system saying that the system needed ‘additional measuresâ to solve…
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Mortgage approvals up for third month
The Bank of England has released figures showing that the number of mortgages approved for house purchases in April rose 8 per cent. Although the number of mortgage approvals was…
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Lenders haven’t passed on the interest rate cuts
Although Bank of England interest rates have been slashed to 3 per cent, many mortgage lenders still haven’t passed the cut on to borrowers, some of whom are paying 7…
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Mortgage lending falls to new low
The Bank of England reported this morning that the number of new home loans agreed in November fell to the lowest level since records began a decade ago with just…
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Kate Barker in favour of 100% mortgages
Kate Barker, a government adviser on housing and member of the Bank of England’s rate setting committee, has said that mortgages which leave buyers with a risk of negative equity…