News For September 2008

Mortgage lending plummets 95 per cent
Mortgage lending in August fell by 95 per cent when compared with July''s figures, according to the Bank of England. ... Read more...

Mortgage intermediaries struggle to satisfy
Some two-thirds of independent mortgage brokers are unable to satisfy their customers, according to new research. ... Read more...

Mortgage lender fined
Mortgage lender GE Money Home Lending has been fined more than a million pounds by the Financial Services Authority (FSA). ... Read more...

'The show must go on'
Uncertainty in the market does not mean homeowners can stop repaying their mortgage, according to the Financial Services Authority (FSA). ... Read more...

Britannia 'continues cutting prices'
Mortgage lender Britannia Building Society has announced further cuts to many of its mortgage products. ... Read more...

Approval rates plummet
Mortgage approval rates in the UK have plummeted, with growth in the market half the average for the first six months of the year, according to the British Bankers'' Association (BBA). ... Read more...

Small deposits are a 'costly option'
Mortgages available to would-be buyers are much more expensive and far less common, according to one industry expert. ... Read more...

Fixed rates are 'bad value'
Buyers unsure about which mortgage to sign up to should steer clear of fixed-rate deals, according to a mortgage expert. ... Read more...

Stamp duty 'compounding slow-down'
Government indecision on stamp duty has reduced the number of sales in the housing market, according to the National Association of Estate Agents (NAEA). ... Read more...

£20k to get on the ladder
First-time buyers are expecting to rent for the foreseeable future as the average amount of savings required to get on the property ladder reaches almost £20,000, according to Co-operative Financial Services. ... Read more...

'Brits avoid doom and gloom with foreign property'
Britons are looking to avoid the slump in the UK''s property market by buying abroad, according to Cater Allen Private Bank. ... Read more...

Endowment providers cut bonuses
Three leading endowment providers have cut their final payouts by as much as ten per cent in the last six months, according to new research. ... Read more...

£11.9 billion spent on DIY
More than four million people are visiting DIY stores every week, according to new research by Apacs. ... Read more...

First-time buyers 'need patience'
Buyers considering waiting before securing a mortgage on a new property should see purchasing a house as a sound investment, according to the National Association of Estate Agents (NAEA). ... Read more...

Lack of mortgage funding must be addressed
"High octane volatility" in the money markets is making predictions on the future of the housing market more difficult, according to the Council of Mortgage Lenders (CML). ... Read more...

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