Thrifty Loans

Stamp Duty Cost £6.5bn In 2007

In the last ten years homebuyers have had to pay £31.5bn in stamp duty, new figures have revealed. In 2007 alone, the stamp duty figure was £6.5bn. It equates to a 675% increase since Labour came to power, as in 1997-8 a mere £830m was paid in stamp duty. Part of the increase is down to changes [...]

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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 a [...]

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House Prices May Fall In Real Terms, Says Governor

The Governor of the Bank of England, Mervyn King, has warned that property prices could fall in real terms over the next four years. If house prices stagnate or rise below the level of inflation then their real values will fall. He said: “The central view in this forecast is, looking several years ahead, there’s no [...]

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FSA outlines risk factors for repossession

The FSA has stated that over the next eighteen months many homeowners could be at risk of losing their homes. Officials state that the risk could apply to over one million homeowners, with around 25% of those who purchased their properties, took out their home loans, or remortgaged between 2005 and 2007 at increased risk [...]

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