Market Commentary Page 2

Information about changes in the mortgage market and how this may affect your house purchase or application for mortgages.

A Drop in Mortgage Deals

The mortgage market seemed to be looking healthy at the start of 2012, with a peak of 2,757 deals recorded in February by moneyfacts, the highest monthly figure since 2007.

However, the deals on offer now seem to have taken a sharp downturn in March and the beginning of April, when they dropped back to 2.325 and 2,288 respectively. Read more

The Property Market in Light of the 2012 Budget

The state of the economy and public finances has not changed much since November 2011.

Chris Keates, general secretary of the National Association of Schoolmasters Union of Women Teachers (NASUWT), said that the recent budget showed the government was ‘out of touch with the lives of ordinary people’. Read more

Maternity Leave and Mortgages

Planning ahead for a new baby is a huge task and after the birth of the baby new parents have more than enough to worry about with out having to worry about the mortgage.

What happens however if new parents need to buy a new property? Read more

Letting Agency Complaints Rise

Last year there were 7,641 complaints made about letting agents to the ombudsman, 26% more than in 2010 which saw 4,180 complaints made.

However, of these complaints only a mere 756 were taken on by the ombudsman as a formal case, but this too was an increase of 42% on 2010 figures. Read more

Council Tenants Could Face Prison or a Fine for Sub-letting

Presently there are nearly 5 million people on a waiting list for social housing; most of these families will not get a home any time soon.

However, almost 160,000 council homes are being sub-let by their tenants, this practice increases the pressure on the public purse, through providing those who need a home urgently and can not get one with temporary accommodation. Read more

Buy to Let Mortgage Fraud

Mortgage fraud accounts for more than half of all fraud committed against the financial sector.

This type of fraud occurs when individuals defraud a financial institution or a private lender through the mortgage process.

Data has shown that the incidence of mortgage fraud through falsified information which has already been uncovered is on the rise. Experts believe that this trend remains upward and it could also be some time yet before the peak is seen. Read more

Deals For First Time Buyers

Britain is a nation that has definitely become fixated with house prices and given the coverage that the subject receives it is surprising just how many young professionals are still so keen in getting on to the property ladder.

With lenders requiring large deposits and stricter lending criteria’s it is no wonder that first time buyers can find today’s mortgage market somewhat daunting and all too often confusing. Read more

Housing Market Renewal Scheme

The housing market renewal or pathfinder scheme, as it was also known, was launched in 2001 by the government. It was a 15 year scheme that was intended to reverse housing market failure in deprived parts of the Midlands and Northern England. Read more

Will the New Mortgage Scheme be a Boost for Buyers?

People in England are being offered help to climb on to or up the housing ladder as the government’s new mortgage indemnity scheme launches.

Building firms and the tax payers will be co-guarantors on new homes bought by existing or first time buyers. Read more

Standard Variable Rate Borrowers Urged to Rethink

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