Thrifty Loans

Falling Home Ownership In Brown’s Britain

Home ownership is on the decline in Britain. The percentage of people who own their own home has fallen to its lowest level in a decade, dropping below the 70%. The falling ownership figure is more confirmation that would-be first-time buyers are unable to join the property market as they would wish to. It also [...]

Continue reading...

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 [...]

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 [...]

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 [...]

Continue reading...