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News Archive From March 2007
- Better mortgage rates start to emerge [26.03.07]
After months of rising interest rates and even the suspension of many fixed rate mortgages from lenders due to the high demand from worried home owners and property purchasers, recent data has shown that lenders in the UK are now coming out with a range of affordable deals on fixed rate mortgages.
- CAB concerned that bailiffs could abuse their powers [24.03.07]
The Citizens Advice Bureau has expressed concerns over the possibility that bailiffs could start abusing the powers when a new bill comes into force that enables them to force entry into the homes of people that are not paying up on their credit card and loan debts.
- British women reliant on unsecured debt [23.03.07]
According to the results of research carried out by the price comparison service Uswitch, many British women have become reliant on unsecured finance in order to fund their spendaholic ways.
- Costs of mortgage fees could counteract benefits of fixed rate mortgages [21.03.07]
Experts are warning any consumers that are thinking about taking out a set term, fixed rate mortgage deal to ensure that they look into the application fee that is being charged by the lender before assuming that they have found themselves a good deal and rushing in.
- Another possible interest rate in Spring? [19.03.07]
Following the results of a Reuters poll, it seems that interest rates may see yet another rise in around April or May of this year, taking them from 5.25% to 5.55%.
- Low interest mortgages could mean costly fees [17.03.07]
Over the past six months the Bank of England has raised interest rates three times, taking the base rate from 4.5% before August 2006 to 4.75%, then to 5% in November 2006 and then up to 5.25% in January 2007.
- Don't fall for false advertising regarding IVAs [16.03.07]
Over the last couple of years the UK has seen a dramatic increase in the number of financial companies that are offering services to try and help them to get out of debt fast.
- Record number of FTBs opt for fixed rate mortgages [15.03.07]
According to recently released data relating to the mortgage market in the UK, record numbers of first time buyers in the UK have been opting for fixed rate mortgages in the light of several Bank of England interest rate rises over the past seven months, with many wondering whether further rises in the interest rate are imminent.
- Mortgage companies complying with FSA demands on exit fees [14.03.07]
The Financial Services Authority has recently announced that all mortgage companies and lenders so far seem to be complying with the regulator's demands to reduce exit fees charged to consumers that are closing down their mortgage.
- Could equity release prove a viable way to raise funds? [13.03.07]
With houses prices on the up and up, recent data has revealed that more and more homeowners are looking into equity release programmes as a means to raising funds here and now without having to make any repayments until the property is sold.
- UK consumers could make claims for unfair mortgage charges [12.03.07]
A recent investigation carried out into unfair charges levied by mortgage companies when consumers close their mortgages has resulted in many consumers in the UK being able to claim up to £220 each for unfair charges that were applied them by mortgage companies.
- IVA procedures to be offered by major debt counselling group [10.03.07]
A leading UK debt counselling group is to start offering IVA services to its eligible clients from April 2007.
- Mortgage companies start to repay exit fees [09.03.07]
Following a recent investigation into the extortionate amount of money that some mortgage providers were charging consumers by way of a mortgage exit fee, these companies have now started to repay up to two hundred pounds each to hundreds of thousands of homeowners after being unable to justify the steep rise in fees over recent years.
- Remortgage – should you consider finding a better deal? [06.03.07]
With a number of interest rate hikes in a short space of time, and with experts predicting that there may be more to come, many consumers are wondering whether now might be the right time to consider remortgaging in order to find a better value and more affordable deal on their mortgages.
- Reduction in number of IVAs reflected in latest figures [05.03.07]
The personal consumer debt mountain in the UK has been the topic of major concern for a number of years, with debt levels rising towards the one and a half trillion pound mark in the UK.
- Think carefully before taking on long term mortgage [05.03.07]
Mortgage experts have highlighted the problems associated with longer term mortgages, urging consumers to think twice before committing to a mortgage that could over a term that is over twice as long as the traditional 25 year mortgage.
- Is the mortgage market slowing down? [03.03.07]
The latest figures relating to mortgage lending for last month have indicated that there could be a slow down in the mortgage market, with the number of people taking out a mortgage falling to its lowest point in two years, according to the British Bankers' Association.
- Growing trend in UK property equity release gives rise to concerns [02.03.07]
A growing trend among UK pensioners applying for equity release mortgages is causing concerns with at least one financial adviser. Bristol-based adviser Hargreaves Lansdown believes that Brits who are looking to rely on equity release mortgages to fund their retirement plans are not being realistic about how to finance their future needs.
- Over 6 million Brits have chosen to consolidated their debts in the last 3 years [02.03.07]
Research published by Money Expert reveals that over 6 million Brits have decided to consolidate their debts in the past three years.
- 50% increase in the number of Brits applying for 100% plus mortgages [01.03.07]
New research published by mortgage brokers Mortgage Advice Bureau (MAB) indicates that there has been an alarming rise in the number of first-time buyers in the UK applying for home mortgage loans that exceed the value of the property they are purchasing.
- Brits Urged Not to Pay Over The Odds For Car Loans [01.03.07]
Many UK consumers may be paying over the odds by opting for car dealership finance rather than a low interest rate car loan, according to online comparison site, Moneyfacts.co.uk. With the new number plates about to be released for 2007, motorists have been urged to shop around for the best deal possible to finance the purchase of their new car.
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