The Council of Mortgage Lenders (CML) revealed that in 2010, nearly two million UK households made a move that will save them an average of £2,600 annually. They opted for a standard mortgage loan after the expiration of their original fixed-term mortgage. The switch was valued at approximately £4 billion per year. Typically, the standard ...

Finally, there is some positive news regarding UK home lending. Bloomberg reported that August UK mortgage approvals increased to the highest level in 20 months. Record low borrowing costs helped support the housing market, with lenders granting 52,410 home loans, according to the Bank of England. This is higher than the figure predicted by economists ...

UK properties have long been some of the most expensive in Europe. First-time home buyers from across the pond had major problems getting home loans for these. This is no longer the case, as the Council of Mortgage Lenders reports that the FY2011 gross mortgage decline has caused prospects to be better than ever. The ...

Many UK residents have experienced difficulty getting a mortgage in their home country due to lending restrictions. It is also now becoming more difficult for them to secure home loans for holiday residences in Italy, Spain, or France. Bank bureaucrats are preparing to roll out new rules and Brits are on the losing end in ...

As the UK housing market settles into what seems to be a long-term slump, many lenders are continuing to slash their mortgage loan rates. Barclays is one of the most recognized names in regional banking and it is no exception to this trend. In fact, the financial institution is reducing rates on one-third of its ...

First time homebuyers are facing a restricted mortgage financing market. This has provided the buy-to-let sector with a boost. Last week, the Communities and Local Government Department announced that the number of renters of privately-owned properties increased 55 percent in the past six years. Many prospective homebuyers are realizing that they cannot afford the deposit ...

Many UK residents are forced to stick with their existing mortgage deals. Those who have savings wonder if their mortgage can help increase savings rates and those who are overwhelmed by debt want the mortgage to help them reduce costs. These are different sides of the same coin and both parties can get some of ...

A recent Halifax survey revealed that though more people expect housing prices to fall than increase in the coming year, 80 percent of those surveyed do not expect their financial prospects to improve. Fifty percent of respondents said the next three months will be prime times to purchase a property. However, many of them may ...

Financial Web site Moneybasics.co.uk recently found that one in every 20 UK homeowners does not use direct debit to pay the mortgage. This places these five percent of mortgage holders at risk of missing payments, which could lead to big financial woes. The majority of people without direct debit have already fessed up to recently ...

Arranging for a loan has historically not been easy for UK borrowers that have a non status credit history. Things have gotten particularly difficult within the past few years, due to changes within the UK mortgage and real estate markets. Mortgage availability is now restricted for all borrowers, including those of the non status type. ...

Fixed rate mortgage programs have flooded the market due to worry that the base rate will soon increase. According to independent price comparison and switching organization uSwitch.com, these deals are costing UK homebuyers a bundle. On average, consumers are required to pay £1,044 in mortgage setup fees. If this amount is added to the mortgage, ...

The property market seems to have a short memory. A mere three years after the credit crisis, Northern Rock is offering first-time homebuyers 90 percent mortgages. Despite its increasing deficit, the government is working with developers to lend deposits to first-time buyers. These down payments are being used to purchase expensive new homes in a ...

With fast-track mortgages, income verification is not performed for applicants with high credit scores who request low loan-to-value amounts. It appears that these will remain available to borrowers in the UK. The Financial Services Authority (FSA) is currently taking a second look at its proposal requiring lenders to verify income for all mortgage applicants. In ...