Thrifty Loans

Interest rate cut more likely due to tight lending conditions

Industry experts have stated that a further interest rate cut in April has been made much more likely as a result of the tight lending conditions in place in the UK at present. The Treasury Select Committee recently asked the governor of the Bank of England, Mervyn King, whether an April cut was more likely because [...]

Continue reading...

Various factors make house price crash unlikely

Alistair Darling, the Chancellor of the Exchequer, has stated that there are a number of factors that make the likelihood of a house price crash in the UK a slim one. He said that the UK was far less likely that the UN to suffer a house price crash due to factors such as low unemployment, [...]

Continue reading...

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 repossessions [...]

Continue reading...

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 Rock has [...]

Continue reading...