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Figures from the Bank of England show that the number of mortgages approved for UK home buyers was barely changed in July at 48,722. The Bank’s figures show that in July, [...] Bank of England report shows mortgage lending at it’s second lowest level since records began. Net lending totalled £86m for the month, down from June’s £518m and the second-lowest monthly lending figure since the Bank’s [...] More than one million home owners on interest only deals face a sharp rise in interest rates when their current deal expires. Coventry Building Society has become the latest mortgage lender to [...] 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 [...] House prices are starting to fall, the latest survey by the Royal Institution of Chartered Surveyors (Rics) has said. Rics said this was because more homes were being put up for sale, while inquiries from potential new buyers [...] Mortgage lenders are contining to ration their home loans to home buyers and re-mortgagers. But 58% of the deals available still require a downpayment of at least 25% of the value of [...] 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 [...] 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 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 [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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