Thrifty Loans

Nationwide Increases Deposits For Its Best Rates

People buying homes in London have been told by Nationwide – Britain’s building society – that they will need to pay a deposit of at least £75,000 to avoid higher mortgage costs. The building society has moved to increase deposits to get its best rates from 10% to 25%. As London house prices now average over [...]

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Banks Raise Mortgage Profit Margins

Banks have increased their profit margins on fixed-rate mortgages to their highest level of over ten years, as they try to rebuild their profits. This news comes at the same time as news of an increasing number of cancelled property deals and estate agents offering discounts on asking prices. Banks are taking an increasingly tough and stubborn [...]

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Government Seizes Control On Controversial Mortgage Lending

125% mortgages have finally been scrapped by High Street lenders amidst across the board controversy just as the bubble seems to have burst on the housing market. It seems that Northern Rock’s flagship mortgage deal which offered low income families the ability to get onto the housing market, has partly been the company’s undoing. As house prices [...]

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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 [...]

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