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News Archive From July 2007
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Many Brits have become reliant on loans [31.07.07]
According to a recent report many consumers in the UK have become reliant on loans to deal with their financial problems, with an alarming number of people opting to take out a loan to solve their financial issues rather than trying to save.
- Good mortgage deals are thin on the ground [31.07.07]
It seems that the fifth interest rate rise in the space of a year has seen affordable variable rate mortgages start to slip away from the grasp of consumers that are desperate to get onto the property ladder, according to recent reports.
- Capital One to close its homeowner loans division in UK [30.07.07]
Following the release of a statement recently Capital One Bank has announced that it will be closing its homeowner loan division in the UK.
- 25 year fixed rate mortgage launched by Nationwide [26.07.07]
Following calls from the new prime minister Gordon Brown for more affordable housing and mortgage solutions, the Nationwide has launched a 25 year fixed rate mortgage deal.
- Things to get tougher for London buyers [25.07.07]
Rising interest rates in the UK have already made things difficult for those wishing to get onto the property ladder.
- Finance available to UK resident through the National Bank of Dubai [25.07.07]
In a recent announcement the National Bank of Dubai announced that it will now be offering finance to eligible consumers in the UK who wish to purchase property in the United Arab Emirates.
- Mortgage Lending Up – Underpinned By Remortgages [24.07.07]
Mortgage lending is still on the way up despite the five interest rate rises in the last year. The Council of Mortgage Lenders (CML) announced that lending was up to £34.2bn in June, which was up 9% on the £31.4bn figure in May.
- Young Professionals Helped Onto The Property Ladder [19.07.07]
Some lenders are beginning to offer mortgages aimed at helping young professionals to get on the property ladder. Scottish Widows, Newcastle Building Society, Bristol & West and Standard Life Bank have mortgages which require no deposit and might allow you to borrow more money than you might usually expect – so long as you are in the right job.
- Endowment Pay-outs Will Continue To Fall [17.07.07]
Endowment policies have lost almost all credibility and financial advisers have lost confidence in them as investments. With-profits policies are now forecast to give worsening returns for the next fifteen years.
- Arrangement Fees Go Through The Roof [15.07.07]
As mortgage providers strive in the competitive environment to appear to offer the best deals they are keen to highlight a low headline rate of interest.
- Inflation continues to affect interest rates in UK [13.07.07]
Officials from the Bank of England's Monetary Policy Committee have warned that inflation continues to pile on pressure with regards to interest rate rises.
- Interest in fixed rate deals starts to wane [11.07.07]
Recent reports have suggested that consumer interest in fixed rate mortgage deals is now starting to fall, as consumers think that interest rates are unlikely to go much higher and therefore do not want to be tied into a fixed rate for two or three years in case interest rates begin to fall again.
- Is the Nemo Quarterback loan deal really a good as it sounds? [10.07.07]
Competition amongst secured loan companies is stiffer than ever these days and many companies use a range of offers and incentives in order to try and get customer on board. The Quarterback loan, a recent offer from Nemo Loans, has hit the market recently with some interesting points.
- Some lenders still acting shamefully with PPI [09.07.07]
Over recent months payment protection insurance, or PPI, has been at the centre of controversy.
- Kids being encouraged to learn how to stay out of debt [08.07.07]
Youngsters across the UK will be learning more about the dangers of getting into debt and the benefits of saving.
- Homeowners could split mortgage with some lenders [07.07.07]
The four recent interest rate rises enforced by the Bank of England, coupled with at least one more interest rate rise predicted for this year, has seen many consumers panicking when it comes to finding the right mortgage.
- Student loans at sky high levels [05.07.07]
According to recent reports student loans in the UK have smashed through the £3 billion barrier, and at the end of the financial year stood at £3.4 billion.
- Offset mortgages growing in popularity [04.07.07]
Rising interest rates along with soaring property prices have seen many different types of mortgages increase in popularity recently.
- Consumers continue to rack up debt [03.07.07]
According to recent figures consumers in the UK have been continuing to borrow, with more borrowing and less saving taking place in the first quarter of this year.
- Mortgage companies charging extortionate fees for valuations [02.07.07]
A recent report has highlighted the extortionate fees being charged by many mortgage companies for property valuations, even in cases where the borrower is not moving home but is simply remortgaging and moving to another lender.
- Mortgage repayments at highest in fifteen years [01.07.07]
Over the past year interest rates in the UK have risen a total of four times, each by 0.25 percent.The Bank of England raised interest rates in August and November of last year, and in January and May of this year, and many analysts predict that there will be a further rise in the summer.
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