Tag Archive | "credit"
New mortgage code now in place
A new Banking Code has now come into play that will result in banks having to take more actions to help those that are struggling with their debts and finances, as well as requiring banks to take other types of action to help customers. The new Banking Code applies to building societies as well as banks, [...]
Continue reading...Availability is biggest hurdle for those looking for a mortgage
Thursday, May 8, 2008
According to a recent report the biggest problem that is facing those looking to take out a mortgage or remortgage is availability, with many lenders having slashed the range of deals that are on offer as a result of the global credit crunch, which has seriously affected their ability to take on new mortgage customers. Many [...]
Continue reading...Negative equity could affect millions by next year
Wednesday, May 7, 2008
According to a recent report millions of homeowners in the UK could see themselves plunged into negative equity over the next year, where their mortgage on their home will exceed the value of the property. Negative equity is a term that has not been widely used for the last ten years, as a result of house [...]
Continue reading...Larger deposits required on most Nationwide mortgages
Monday, May 5, 2008
Yet another major mortgage lender has increased the amount of deposit required from borrowers in light of the global credit crunch, which has resulted in far tighter credit conditions. The nation’s second largest mortgage lender, Nationwide, has announced that borrowers will now have to put down at least a 10% deposit on all but two of [...]
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Friday, May 9, 2008
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