Article(s) associated to this keyword
- Hopes Rise for a Rate Cut
- Fixed Rates Rise Again
- Tesco Joins Mortgage Market
- Increase in Tracker Mortgages in Wake of Credit Crunch
- Markets Face Meltdown After Rescue Plan Rejection
- New Initiatives to Get Property Market Moving
- Rates Up For Those With Small Deposit
- Not Everyone is Raising Mortgage Rates
- Mortgage Approvals Down Again
- Positive Outlook for London Homeowners
With fears for a recession now overtaking fears for inflation, expectations are rising in the City for a Bank of England base rate cut this week. Inflation is expected to peak soon, but the economy is in dire need of a boost. A rate cut should help variable mortgage rates.
Nationwide has raised its fixed mortgage rates as other lenders have done so in the wake of recent financial turmoil. Borrowing has become tougher, especially if you don’t have a large deposit.
Britain’s biggest supermarket is joining the mortgage market, to be launched after it buys RBS out of its share of the Tesco Personal Finance joint venture.
Following the collapse of Bradford and Bingley, other lenders have now removed their deals from the market - over 11% of mortgages were pulled.
The US bail-out plan for banks was rejected on Monday. As a result financial markets around the world went into free-fall. More banks went under, and others are expected to follow. President Bush will make another attempt at a rescue plan later in the week.
Sarah Beeney has launched a website offering advice on how to kick-start the property market during the downturn, which involves all members of the chain rather than simply first-time buyers.
Following continuing uncertainty on the money markets, HSBC has raised its mortgage rates for those with less than 25% deposit. B&B has announced redundancies and the PM travels to the US for financial discussions.
Northern Rock is cutting mortgage rates when others are raising theirs, leading to suspicions of it using taxpayers’ money to boost its market share. Brokers have seen an increase in enquiries for Northern Rock products since its nationalisation.
Mortgage approvals were at their lowest level in August since records began. A number of factors are keeping people out of the housing market, not least concerns over the economy and jobs. The hope is that the Bank rate will come down soon.
New research shows that, despite the credit crunch and property slowdown the average asking price of a house in London continues to rise.
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