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More families will lose their homes, charities warn, as the Government prepares to reduce the amount of financial support it provides to borrowers by as much as £200 a month. But some of [...] 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 [...] Three quarters of mortgage holders do not know how an increase in interest rates of one percentage point would affect their budget. The survey of 2,262 people was conducted for an education group, the Consumer Financial Education Body. The [...] An leading Asian bank warned it’s clients to prepare for a fall in property prices of up to 30pc in Beijing, Shanghai, Shenzen, and other large cities in China as the delayed effects of monetary tightening begin to bite. The rate at which mortgage holders and businesses default on loans has fallen “unexpectedly”, according to the Bank of England. However, the Bank’s Credit Conditions Survey said that the default rate was expected to remain unchanged in the third quarter of [...] The low size of the mortgage market shows that getting a mortgage remains problematic for first time buyers who tend not to have a substantial deposit. The CML explained that this was a seasonal effect due to the Easter holidays, [...] 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 owners of second homes should pay higher taxes, David Cameron has said, provoking accusations that he is betraying core middle class Conservative voters. The Prime Minister suggested that second homes deserved to be hit by increased capital gains taxes because such properties were not ‘’splendid” for the economy.Mr Cameron also confirmed he had been forced [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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