Thrifty Loans

Repossessions Set To Rise in 2008

Despite the recent fall in the Bank of England’s base rate, home repossessions are expected to hit a 12-year high this year. The number of homes expected to be taken away from their owners is forecast to reach 45,000 in 2008. The forecast also came in spite of figures showing that the 21% rise in [...]

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Rock Axes 125% Mortgage

Finally Northern Rock has axed its 125% mortgage following a raft of criticism in the last week. The bank, which is in the process of being nationalised, will no longer offer its Together mortgage as it tried to put itself back on a firmer footing by reducing its mortgage book and its risk exposure. Northern [...]

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Northern Rock Still Offering 125% Mortgages

After all that’s happened it is rather surprising that Northern Rock are still offering mortgages for more than the value of the borrower’s home. Despite its being underwritten by the UK taxpayer, the ailing bank is still marketing its Together mortgage deal in which homebuyers can borrow up to 125% of a property’s value. Such [...]

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Northern Rock Shrinks Its Mortgage Book

The mortgage book of Northern Rock is already being reduced ahead of its forthcoming nationalisation. It was predicted by Ray Boulger, of mortgage brokers John Charcol, that Rock’s mortgage book would be slashed by 50% in the next couple of years, and he said that rates have been put up already to discourage people taking [...]

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