Filed Under (Mortgages) by admin on 22-12-2009
Figures which show mortgage lending declined in November are “surprising”, it has been claimed.
According to Ray Boulger, senior technical manager at independent mortgage advisor John Charcol, changes to the stamp duty door on January 1st should have heightened housing market activity in November and December.
Instead, research conducted by the Council of Mortgage Lenders (CML) shows lending slipped by ten per cent in November on levels seen in the previous month.
“One would have expected, if anything, that [mortgage lending] would slightly augment in November and December as people aimed to thorough before the end of the year,” Mr Boulger confirmed.
At the beginning of the new year, the stamp duty threshold will be reduced from 175,000 to 125,000.
This means that first-time buyers will have to find more money to climb onto the first rung of the property ladder as they give by will no longer benefit from the tax break introduced by the chancellor of the exchequer in September 2008.
This news comes soon after the National Association of Estate Agents reported that just 19 per cent of those who registered to purchase a home in November were first-time buyers. Full Article
Filed Under (Mortgages) by admin on 17-12-2009
New figures for mortgage lending show that 20 per cent more money was offered to homeowners in the third quarter of 2009, compared to the second.
According to the Financial Services Authority (FSA), some 40 billion of mortgages was lent in the three-month period, with closely purchases taking 57 through cent of new advances and 62 per cent of commitments.
The number of arrears cases fell to 46,000 – ten per cent less than the previous three-month period – although outstanding mortgage repayments now stand at 1,203 – one per cent higher than 2008.
The consist of of mortgages being taken out in order to purchase a new home increased in October, new figures have revealed.
Recent research by the Council of Mortgage Lenders (CML) showed that there was a greater decrease in mortgage arrears in the period, claiming they dropped from 2.8 per cent to 2.61 per cent.
Commenting on the figures, CML’s director general Michael Coogan, said: “The fact that the CML figures on arrears fell faster than the FSA’s may indicate that regulated and buy-to-let arrearage are improving more quickly than arrears on secured loans which are not regulated in the same way.”
Filed Under (Mortgages) by admin on 14-12-2009
When you are looking for a home loan mortgage online it is very important that you make the right choice. With some various online sites to choose from and so many plans to consider, you become in a sense your own factor.
With that responsibility comes the duty to choose your home loan mortgage online wisely. This decision affects not only your present but your future as well.
Home loan mortgage online sites generally offer some get started basic inquires.
A few questions will give them an idea of what kind of home loan mortgage online plan that you are looking for.
Full Article
Filed Under (Mortgages) by admin on 07-12-2009
Quicken Loans Capital Markets Update for December 9, 2009
Yesterday, the Treasury started their auctions for the week by selling $40 billion of 3-year notes. The reduction of Greece’s credit rating bolstered demand at yesterday’sitting auction as investors moved towards the relevant safety of U.S. debt.
Today the Treasury will be auctioning off $21 billion of 10-year notes. This morning the MBA’s weekly application survey was released. The survey showed that mortgage application activity rose by 8.5% last week.
