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 [...]

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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 [...]

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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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