LONDON – The number of first-time home buyers fell to a record low in 2011, despite house prices declining to their most affordable levels in eight years, mortgage lender Halifax said in a survey on Monday.
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First-time home buyers at record low
LONDON – Britain is to propose stricter rules for mortgage lending that aim to prevent a recurrence of irresponsible practices — such as “liar loans” — that led to the global financial crisis.
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Regulator proposes stricter mortgage market rules
LONDON – House prices fell by 0.9 percent in November, mortgage lender Halifax said on Tuesday, though it said it expected the housing market to hold steady in the coming months.
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House prices down 0.9 percent in November
LONDON – House prices jumped in October, mortgage lender Halifax said on Monday, in a rare sign the housing market may be weathering the economic turbulences better than many fear.
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House prices jump 1.2 percent – Halifax
LONDON – Mortgage repossessions rose slightly in the three months to September compared with the previous quarter, but total repossessions this year are likely to be lower than expected, the Council of Mortgage Lenders said on Thursday.
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Mortgage repossessions tick up in third quarter
LONDON – Hopes for a bounce in Britain’s ailing economy were dealt a blow on Monday after data showing a slowdown in mortgage lending alongside a modest pick-up in unsecured lending highlighted the tough conditions faced by hard-pressed consumers.
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Weak lending highlights tough outlook for UK
LONDON – British house prices nudged up last month, beating expectations for no change, driven by sales in more affluent areas, data from mortgage lender Nationwide showed on Tuesday.
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House prices up 0.4 percent in October
Are you wondering whether you are eligible to refinance mortgage after declaring bankruptcy? Then it might be great news for you as there are still certain lenders who can refinance your mortgage loan despite your poor credit. These lenders might not be able to provide you loan on favorable terms but you can obtain a loan after filing bankruptcy. Replacing your present home loan with new mortgage can help you get loan at comparatively lower rates. If you can refinance your mortgage loan at a lower interest rate then you can save considerable amount of money and help you reestablish your credit.
Here are a few things that you need to keep in mind before refinancing your mortgage:
1. Try to reestablish your credit by saving more money so that you can avoid taking out new loan after declaring bankruptcy. Make sure that you pay off your bills on time then it will help to repair your credit report. You should open a savings account and deposit a portion of your income in this account. It will be easier to convince the creditors that you are a low risk borrower if you start paying off your accounts on time.
2. Contact your bankruptcy attorney and ask him whether you are required to delay the processing of your refinance request. But it will be on the basis of the chapter you have filed under.
3. Make sure that you shop around so that you can get affordable quotes according to your financial situation. You should give more time to find mortgage lenders who offers favorable rates. Your mortgage broker can help you find lenders who can offer best refinancing deal.
4. You need to decide what appears to be a favorable term for you. The rates might be favorable depending on the length of the mortgage or the type of mortgage you choose whether it a fixed rate or adjustable rate. You can consult your lender regarding the type of mortgage that will be appropriate for your financial situation.
LONDON – Consumer confidence fell for a fourth consecutive month in September on a broad-based drop in morale and was near to February’s record low, a monthly survey by mortgage lender Nationwide showed on Friday.
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Consumer morale falls for fourth month
LONDON – Gross mortgage lending rose 4 percent on the year to 12.9 billion pounds in September, the Council of Mortgage Lenders said on Thursday, although it said the level of housing market activity was subdued.
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Gross mortgage lending up 4 percent
