News For October 2008

'Banks pull best deals'
Savers and borrowers are being warned to act now to get the best mortgage rate as banks stop selling their most competitive deals, it has been reported. ... Read more...

Equity release 'on the increase'
Sales in equity release programmes have increased by a fifth since last year, according to the Newcastle Building Society Equity Release Service (NBSERS). ... Read more...

Location is 'most important factor when buying'
The location of a property is the most important factor for buyers considering a new home, according to the latest research. ... Read more...

House prices 'continue their decline'
UK house prices continued their decline in September, dropping by a further 1.3 per cent, according to the latest monthly Halifax house price index. ... Read more...

AMI welcomes rate cut
The Association of Mortgage Intermediaries (AMI) has welcomed the Bank of England''s decision to cut interest rates a day early. ... Read more...

Further rate cuts expected
It is too early to opt for a fixed-rate mortgage deal as the coming months will see further rate reductions, according to one industry expert. ... Read more...

Government recapitalisation scheme 'could boost mortgage lending'
A number of banks and building societies have committed themselves to lending money to home buyers due to their participation in the Treasury''s recapitalisation scheme. ... Read more...

Government funding welcomed by the CML
The government''s decision to support banks with extra funding during the economic downturn has been welcomed by the Council of Mortgage Lenders (CML). ... Read more...

Nationwide happy to be included in rescue package
Nationwide has welcomed the government''s financial support and is happy building societies are considered in the package of measures. ... Read more...

Abbey reduces montage rates and fees on five-year products
Mortgage lender Abbey has reduced the rates and booking fees on its five-year, fixed-rate products. ... Read more...

Business leaders call for the bank to cut interest rates
Business leaders are calling for the Bank of England to cut its base interest rate by half a percentage point this week. ... Read more...

University town properties 'worth more than surrounding districts'
Properties in university towns have increased in worth up to £20,000 more than houses in nearby areas, it has been claimed. ... Read more...

Equity release customers 'should remortgage'
Pensioners taking advantage of equity release schemes should consider remortgaging their property, one expert has claimed. ... Read more...

'Banking shares hit by bailout talk'
British banking shares plummeted today (October 7th) as the big lenders held emergency talks with the government last night, it has been reported. ... Read more...

Government 'will fail to meet housing target'
The government is likely to fail to meet its target of building two million new homes by 2016, according to new research. ... Read more...

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