News Tag: deposits
March 8, 2010
Home buyers with a zero to 40% deposit currently have 1,798 mortgage deals to choose from, according to Moneyfacts.co.uk.
Researchers at the financial website have registered a 6% rise in the number of home loans on offer in the past month, taking the total up 68% year-on-year.
While those with 5% or less to put down continue to struggle, the number of mortgages ...
Rise in house purchase mortgage deals
by Gill Montia
January 22, 2010
US President Barack Obama is proposing a severe crackdown on financial institutions in the US which has sent stock markets around the globe into decline.
Yesterday, the Dow Jones closed down 2% - its worst decline since October, while Japan's Nikkei lost 3.6% - the biggest weekly loss in three months and closing a three-week low.
Hong Kong’s Hang Seng ...
Global markets in decline after Obama proposals
by Kay Murchie
September 15, 2009
Mortgageforce reckons that the deposits demanded of first-time buyers have been falling at an average rate of 3% per month.
According to the broker franchise, the typical deposit for a purchaser entering the housing market stood at 28.6% in June but came down to around 25% in July and just over 21% in August.
The group's technical manager, Katie Tucker, says: "More generous ...
Lower deposits for first-time buyers
by Gill Montia
April 7, 2009
The anxiously awaited recovery of the UK housing market is still blighted by mortgage lenders' demands for high deposits.
Latest figures from financial website, Moneyfacts, show the number of home loans on offer increasing to 1,485, up from 1,398 in March.
However, over two-thirds of the deals on the market require a deposit of at least 25%.
The proportion is ...
Mortgage lenders remain cautious over loan-to-value ratios
by Gill Montia
March 30, 2009
It has been confirmed this morning that the Nationwide is to buy the Dunfermline Building Society's branches, good loans and deposits.
It was reported over the weekend that Scotland’s largest Building Society had collapsed after last-minute rescue attempts failed.
The institution, which was established in 1869, will see Nationwide take on its 500+ staff and the brand will remain intact.
The deal, which was rushed ...
Dunfermline rescued by Nationwide
by Kay Murchie
March 17, 2009
First time buyers are paying record deposits as lenders make it even more difficult to take out a mortgage.
Figures from the Council of Mortgage Lenders (CML) show that a typical first time buyer now has to put down a deposit of 24% - the highest percentage since records began in 1974.
With the average house price at £160,429, first time buyers are ...
First time buyers pay record deposits
by David Masters
January 8, 2009
The director general of the Council of Mortgage Lenders has described today's cut in the Bank of England's base rate to 1.5% as a double-edged sword for lenders who rely on savings deposits to fund their mortgage businesses.
Michael Coogan comments that while lower mortgage rates can provide borrowers with the opportunity to repay their mortgages early, lower savings ...
Base rate cut a double-edged sword for mortgage lenders
by Gill Montia
October 1, 2008
The Government has announced its intention to guarantee bank deposits up to £50,000.
With the global credit crisis showing no signs of abating and banks collapsing or being nationalised, Prime Minister Gordon Brown told the BBC he will do whatever it takes to protect people’s savings.
The announcement comes after the Government of Ireland said earlier this week it will ...
Savings of up to £50k to be protected
by Kay Murchie
