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Home owners have so little equity left in the homes after the credit crisis that they are struggling to remortgage, experts warned. The number of loans approved for those buying a [...] Hundreds of thousands of retired home owners face have having their homes repossessed as banks refuse to extend their mortgage terms.Lenders have imposed tight age restrictions on elderly borrowers who have been unable to pay off their mortgage before reaching retirement. Falls in their investments as a result of the worst economic crisis in a generation [...] Overdue homeowners are warned that a four pronged whammy will see the number of home repossessions increase. The latest forecast from the Council of Mortgage Lenders [...] Whilst UK homeowners increased the value of their stakes in their properties by £3.2bn home equity releases by pensioners were used to fund debts.A recent survey by Age UK suggested that equity withdrawal was still being used by some sections of society as a last resort to pay off debts, or to find money when [...] UK homeowners increased the value of their stakes in their properties by £3.2bn in the first three months of 2010, new figures show. The rise was due to homeowners paying off more of their mortgage and [...] The fact that remortgage interest rates are coming down is good news for borrowers as re-mortgage lenders are more comfortable with the new landscape of the remortgage market.Proof of this attitude to lend and is that they are now competing against each other on best buys, something we haven’t seen in the market for some [...] UK mortgage lending is still subject to severe rationing so whether you are looking to re-mortgage to fix your home loans interest rate, or leave it remain at the standard variable rate is a key issue.However, the Bank of England base rate remains at a 300-year low of 0.5%. So it does seem reasonable to suggest [...] Net consumer credit lending shrank by £0.3bn in April. This was driven by loans and overdrafts where repayments outstripped new lending by £507m. The figures point to a trend of consumers trying to live within their means – with people paying back more of their debts than taking on new debt. More properties were coming onto the [...] The number of homes repossessed in the UK fell by 7.5% in the first three months of 2010, according to lenders. Figures show that the number of homes repossessed dropped from 10,600 in the last three months of 2009 to 9,800 in the first quarter of 2010. Mortgages and home loans available- but only to those with small loans to value needs. The availability of mortgages will remain steady, lenders tell the Bank of England. The report also found the availability of credit to businesses increased in the first three months of the year. This included higher lending to the commercial property sector, and [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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