Debtors are getting wealthier
An increasing number of wealthier homeowners are seeking debt help as the rise in unemployment and falling property prices puts pressure on household budgets, the Consumer Credit Counselling Service said.…
Tag: homeowner
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OFT consults on second charge lending
The Office of Fair Trading (OFT) launched a consultation today on draft guidance for businesses engaged in second charge lending. The draft guidance sets out the standard of behaviour the…
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Mortgage rescue scheme six months on
All local authorities in the UK have now signed up to the government’s mortgage rescue scheme, with as many as 300 households already qualifying for the support plan. Communities and…
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Mortgage lending shrinks
Mortgage lending has fallen sharply, with approvals for house purchases 60 per cent lower than a year ago. The number of approvals fell by 14 per cent in November to…
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Demand for first-time buyers scheme three times more than expected
The new HomeBuy Direct scheme – allowing buyers earning less than £60,000 to take out a mortgage for 70 per cent of the cost of a property and an interest-free…
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Mortgage rescue scheme starts today
A new £200 million scheme to prevent thousands of vulnerable people from losing their homes and avoid repossession comes into force nationwide today. The scheme allows housing associations to buy…
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RICS wants empty homes brought back into use
The government could house tens of thousands of families if it took steps to bring Britainâs 750,000 empty homes back into use, a report by the Royal Institute of Chartered…
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Homebuyers to face higher mortgage payments
Following a sell-off in the government bond markets, banks are likely to face increasing pressure to put up fixed mortgage rates. Yields on five-year gilts have risen to their highest…
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Asking prices up for fourth month
Asking prices for properties in England and Wales have risen for the fourth month in a row to a six-year high, according to property website Rightmove. The average price has…
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The cost of registering property is going up
The Land Registry is planning to increase its fees by nearly a third to boost its income in the face of falling property transactions. The Registry said that the steep…