Young people cannot afford to get onto the property ladder
LONDON - New research by Alliance & Leicester shows that at least a quarter of young newly married couples want to buy their own houses, but are unable to do so. This isn't rocket science considering current house price valuations. Most of them are forced to stay in rented homes since they cannot afford to shell out the huge amounts required to get on the property ladder.
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Thu, 19 Jan 2006 20:30 GMT |
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BoE figures show mortgage equity withdrawal declined in Q3 last year
LONDON - The latest figures from the Bank of England show that the amount of money being borrowed by people against their houses in order to inflate their incomes has dropped once again. The Bank said that mortgage equity withdrawal figures for the third quarter of 2005 stood at £8.3 billion as compared to the £10 billion recorded in the second quarter.
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Tue, 03 Jan 2006 18:30 GMT |
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City economists predict rate cut
LONDON: City economists strongly believe the Bank of England will be compelled to cut interest rates to prop up the economy.
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Mon, 02 Jan 2006 14:10 GMT |
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Expectation of rate cut high
There is widespread anticipation of an interest rate cut -- as early as in February 2006 -- among analysts, who say it is necessary to pull the economy out of the doldrums. They point out that growth has slowed down to its lowest in a decade, while consumer spending is shying away from any evident pick-up.
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Wed, 28 Dec 2005 20:05 GMT |
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Mortgage lending at record levels
Mortgage lending reached a peak of 28.5 billion pounds in November -- the highest since July 2004 and the second strongest figure on record, according to the Council of Mortgage Lenders. This represents a 5 per cent increase over October and 30 per cent over November 2004 figure of 21.76 billion pounds.
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Thu, 22 Dec 2005 08:15 GMT |
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Offset mortgage can indeed be beneficial, finds study
Offset mortgage schemes can help Britons save around 850 million pounds a year, according to a new study. Offset mortgage schemes are devised in such a way that a customer's holdings in his savings and his current accounts are taken into account while calculating the value of the mortgage.
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Sun, 04 Dec 2005 10:25 GMT |
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FSA warns consumers against overstating their incomes
LONDON - The Financial Services Authority (FSA) has warned homeowners not to cover up their exact income while applying for a self-certification mortgage. The financial regulator said that homeowners could be labeled as criminals if they lie about their income.
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Fri, 02 Dec 2005 06:45 GMT |
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