Lunchtime news May 9
Commenting in the Evening Standard, Shelter chief executive Adam Sampson warns that homes in London costing less than £100,000 could soon be a thing of the past. An increasingly detached…
Tag: mortgage
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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The Office of Fair Trading (OFT) launched a consultation today on draft guidance for businesses engaged in second charge lending. The draft guidance sets out the standard of behaviour the…
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Steep decline of mortgages continues
The number of mortgage deals continues to shrink as lenders ration their home loans in favour of those with a large deposit. The number of deals is down 65 per…
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Lloyds breaks first time buyer mortgage deadlock
Lloyds is offering a new deal for first-time buyers that allows parents or friends to use their savings as a guarantee against a default. The bank is offering to lend…
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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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Slide rule
Wherever you look the statistics seem to be unprecedented. House prices fell at their fastest rate ever in 2008. Sales are lower than at any time since records began in…
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Elderly care fees a ‘postcode lotteryâ
Vast differences in the cost of long-term care for the elderly have been revealed by research from Saga. Fees vary by almost 50 per cent across the UK and typically…
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Lunchtime news April 2
New research for the DCLG into loans for vulnerable home owners concludes there is room for expansion if more choices are developed. Councils will be allowed to build and deliver…
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PM calls for end to 100% mortgages
Speaking to the Observer, Gordon Brown said the Financial Services Authority (FSA) would consider controls on mortgage of more than 100 per cent of a home’s value, and on high…
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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…