Thrifty Loans

Building societies fail to escape credit crunch problems

Since the global credit crunch took a hold in the UK last year, larger banks have been clamouring to raise interest rates, withdraw mortgage deals, and tighten lending criteria in a bid to try and minimise on the damage caused by the crunch, which includes difficulties for lenders in obtaining finance on the wholesale markets [...]

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Broker could be facing uncertain future

Mortgage broker firm John Charcol could be facing an uncertain future according to its auditors, as its liabilities by far outweigh its total assets. John Charcol has enjoyed success over the year, and even now continues to insist that there are no problems, or at least not ones that would hinder its operations. However, according [...]

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7% fall in mortgage lending for February

According to industry officials the level of mortgage lending in February dropped by 7%, with a total sum of around £24 billion being borrowed for the months compared to £25.9 billion in January. This reflected a 6% fall compared to mortgage lending levels in February according to officials from the Council of Mortgage Lenders. The CML has [...]

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Nationwide closes doors on new borrowers by raising rates

The Nationwide Building Society, which has recently topped consumer polls for everything from its credit cards to its customers service levels, has announced that it is looking to close the doors on new mortgage applicants by raising its mortgage interest rates, despite the fact that there have been two recent base rate cuts in the [...]

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