More Homeowners Face ReMortgage Hell as Lenders Pull 100% loans

Homeowners facing finance problems may be a step closer to repossession as mortgage lenders pull their 100% loans.
This means that for those who need to remortgage soon, not only are rising interest rates from sub prime lenders and falling or static house prices an issue, but they may now find that they are unable to [...]

Let’s Talk Ourselves Into a Housing Market Crash

Recessions are an interesting phenomenon.
This is because they are created by belief.
If everyone believes there is going to be a recession then they act accordingly. We spend less ‘just in case’ and we put off important decisions like moving house and taking on a bigger mortgage ‘just in case’.
The irony is that there is still [...]

The Return of Negative Equity as House Prices Fall Again?

The Council of Mortgage Lenders has said that according to the information collected from their members that this December shows a fall in house prices in real terms, unprecedented since the early 1990s.
This is further bad news for those facing repossession.

Not only are the rises in inter bank lending interest rates causing problems for those [...]

David Cameron Asks Mortgage Lenders Not to Repossess

From BBC 11/12/2007

“Many experts are predicting that the housing market will slow
Home loans became even more expensive to re-pay in October because of higher interest rates and rising house prices, the Council of Mortgage Lenders said.
The CML said that interest repayments swallowed up 20.6% of first-time buyers’ monthly incomes.
That was up from 20.4% in September [...]

Mortgage Approvals at 3 Year Low – Repossessions Rise

From BBC News 29th November
The property market is showing signs of slowing down, analysts say.
The number of mortgage approvals has fallen to its lowest level for nearly three years, says the Bank of England.

In October there were 88,000 new mortgage approvals, down from 100,000 in September and 128,000 a year ago, the Bank said in [...]