Archive for September, 2007
Monday, September 24th, 2007
With the uncertainty surrounding the UK Housing Market and the mortgage industry, many are considering a 10 year fixed rate mortgage.
The current mortgage uncertainties over Northern Rock are unlikely to lead to short term rises in interest rates, however, it is difficult to predict where interest rates will be in ...
Posted in rates | No Comments »
Thursday, September 20th, 2007
There are over 130 10 year fixed mortgages on the market. They offer an appealing security for homeowners who wish to avoid the fluctuations of interest rates. By historical standards the 10 year fixed deals offer an attractive proposition. It is not that long ago that UK interest rates reached ...
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Wednesday, September 19th, 2007
When setting interest rates, the primary objective of the MPC is to control inflation. The MPC have an inflation target of CPI 2% =/-1. This is why The Bank of England is concerned with rising inflation. It explains why interest rates may remain high, even if growth slows down.
Central Banks ...
Posted in economics, interest rates | No Comments »
Monday, September 17th, 2007
Rising interest rates in the UK and US have meant that an increasing number of householders have been struggling to pay their mortgage payments. If you find yourself in the this situation these are some possible responses.
1. ReMortgage.
This is the first option that you should consider. Many homeowners remain ...
Posted in mortgages | 1 Comment »
Monday, September 17th, 2007
This week Northern Rock is likely to see savers flock to the bank to withdraw their savings.
Last week, Northern Rock suffered a severe credit shortage. As a result they had to borrow emergency funds from the Bank of England to ensure liquidity for its mortgage business. The last time the ...
Posted in remortgaging | No Comments »
Friday, September 14th, 2007
The total amount of debt owed by the British is not a collective £3,345bn. This is more than the country's gross domestic product and is the highest on record.
The debt levels have been increasing because of:
Relaxed lending criteria, especially in the adverse credit market
Low medium term interest rates. ...
Posted in debt | No Comments »
Wednesday, September 5th, 2007
UK House prices are increasingly unaffordable.A first-time-buyer with an annual salary of £25,899 would now have to save up to £25,600 for the deposit on a typical home. This is nearly 96% of their income. This is made more difficult by the fact many graduate first time buyers leave university ...
Posted in mortgages | No Comments »
