Archive for October, 2009
Lender to repay 46,000 borrowers
The GMAC-RFC mortgage lender has been fined £2.8m by the Financial Services Authority (FSA) for mistreating customers who fell into arrears. It has also been told to repay £7.7m, plus interest, to 46,000 of its borrowers. The FSA said the company levied unfair charges on borrowers who fell behind with their repayments and was too [...]
October 30, 2009
Tags: Credit Crunch, home loans, UK loans rates Posted in: Uncategorized 
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UK house prices rise for fifth month in a row
House prices in England and Wales rose by 0.9pc in September, according to figures released by the UK Land Registry. The data from the Land Registry’s House Price Index shows an annual drop of 5.6pc, taking the average house price in England and Wales to £158,377. But this is the fifth month in a row [...]
October 29, 2009
Tags: home loans, UK loans rates, uk recession Posted in: Uncategorized No Comments
Credit cards- the UK system discourages shopping around
Consumers shopping around for the best loan rates could be penalised if their credit rating reflects multiple applications, MPs have been told. As part of their investigation into the issue the Treasury Select Committee was told that people who made several attempts to get a deal for a loan or credit card could hurt their [...]
October 28, 2009
Tags: Credit Crunch, loans, loans rates, UK loans rates Posted in: Uncategorized No Comments
Northern Rock home loans are best buy after rate cuts
Nationalised bank Northern Rock has cut its home loans rates for the third time in as many weeks, pushing it to the top of the best buy tables. The group is reducing the interest charged on 14 of its mortgages by up to 0.64 of a percentage point, leaving it with three market-leading deals. It [...]
October 27, 2009
Tags: home loans, UK loans rates, uk recession Posted in: Uncategorized No Comments
London shares lose gains as lenders suffer
London equities failed to hold gains on Monday, as financial stocks around the world fell after reports the US authorities prepared to unveil plans that would make it easier for the government to seize control of failing financial institutions. The news hit sentiment toward the sector, and sent shares in the UK nationalised banks to [...]
October 26, 2009
Tags: Loan calculator, loans, sub prime loans Posted in: Uncategorized No Comments
Home loans owners pay 70 per cent more for mortgage payment protection insurance
Home loans owners are paying more than 70 per cent more to insure their mortgage payments against losing their job compared with a year ago. Rising unemployment means companies offering mortgage payment protection insurance have increased their prices sharply during the recession to account for a greater number of claims. It means the average monthly [...]
October 23, 2009
Tags: home loans, Loan calculator, mortgage calculator, unemployment Posted in: Uncategorized No Comments
Bank loans customers face authorised overdraft rate of 365pc
Halifax and Bank of Scotland customers who use an agreed overdraft are to be charged an interest rate of the equivalent to 365 per cent. The change means customers with arranged overdrafts of up to £2,500 will be charged at £1 a day and those with arranged overdrafts of more than £2,500 will be hit [...]
October 22, 2009
Tags: home loans, loans, loans rates, sub prime loans Posted in: Uncategorized No Comments
Spooked investors short US rally
Spooked traders unraveled a stock market rally late on Wednesday as worries mounted about banks and a jump in the price of oil. The Dow Jones industrial average ended down 92 points after having risen 78 points earlier in the day to a new high for the year. The Dow Jones industrial average fell 92.12, [...]
October 21, 2009
Tags: home loans, Loan calculator, Oil, sub prime loans Posted in: Uncategorized No Comments
New house slump hits markets
Worse than expected economic data offset strong results from corporate bellwether’s including Caterpillar, the world’s largest maker of heavy construction and mining equipment, to send the New York stockmarket tumbling. The Dow Jones industrial average was down 74.89 points at 10,017.3 points at 2.15pm. The drop came after new housing start figures for September fell [...]
October 20, 2009
Tags: consolidate debt loans, home loans, inflation, new home sales Posted in: Uncategorized No Comments
Home loans face tighter application red tape
Borrowers face a mortgage affordability test from lenders under new plans by the Financial Services Authority (FSA) to step up the regulation of home loans. Self-certification mortgages will be banned under the proposals with lenders required to verify borrowers’ incomes. FSA chief executive Hector Sants said that some people who were able to get home [...]
October 19, 2009
Tags: consolidate debt loans, home loans, mortgage calculator Posted in: Uncategorized No Comments
