Archive | February, 2008
Annual House Price Inflation Falls Again
Property values continue to flounder as annual house price inflation fell below 5% in January. Figures from the Halifax indicate that there was no change in the value of house prices last month, the average remaining as £197,244. However, that meant that the annual rate fell to 4%, with houses worth on average £7,628 more than [...]
Continue reading...Banks raise interest rates on current accounts
29. February 2008
Whilst the banking industry and consumers await the ruling of the judge in the High Court case over bank charges, banks are busy trying to attract new customers by raising the interest rates that are offered on current accounts, starting a current account war within the industry. A number of banks have increased their current account [...]
Continue reading...125% Mortgage Deals Are Being Scrapped
27. February 2008
Major lenders are beginning to scrap 100% plus mortgage deals. The controversial mortgages that allow borrowers to borrow more than the value of a house are being pulled. Abbey and Alliance & Leicester have both ended their 125% deals, and this has followed some lenders scrapping 100% deals before Christmas. From about in one in three [...]
Continue reading...Darling wants greater availability of longer term mortgages
27. February 2008
The Chancellor of the Exchequer, Alistair Darling, is encouraging lenders to offer more longer term mortgages with fixed rates at affordable rates. Darling wants to see more twenty five year fixed rate deals on the market, stating that these mortgages would increase stability and affordability for homeowners and borrowers. Over recent months many homeowners have suffered [...]
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29. February 2008
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