Sunday, November 16th, 2008
It’s been a week of yet more bad news for UK property owners as it’s being reported that home sales are falling drastically, primarily because mortgage lending is down by 70%.
The figures are the result of a survey commissioned by the Royal Institution of Chartered Surveyors (RICS) and it showed ...
Posted in Credit crunch, Property Prices | No Comments »
Monday, September 29th, 2008
Bradford & Bingley, Lehman… who’s next?
Troubled high street bank Bradford & Bingley has been nationalised. An announcement is expected to the effect that B&B – the latest global credit crunch casualty – will be sold almost immediately to another bank chain or a consortium of leading banks.
Prospective buyers for the ...
Posted in Banking, Credit crunch | 1 Comment »
Sunday, September 7th, 2008
A recent study has revealed that property repossessions in the UK have risen by over 40% since January, with approximately 19,000 repossessions occurring up to June of this year. These figures represent an increase of 48% compared to the first six months of 2007.
The Council of Mortgage Lenders has stated ...
Posted in Credit crunch, Property Prices | No Comments »
Sunday, August 31st, 2008
Research from leading accountants Grant Thornton has shown that the total amount owed by UK consumers in the form of mortgages, loans and credit cards has increased by 7.3% in the 6 months preceeding June. The figure now stands at nearly £1.5 trillion.
During the same six months, the UK's Gross Domestic Product (GDP) only increased by ...
Posted in Credit crunch, Debt | No Comments »
Thursday, August 28th, 2008
UK Property prices could ent the year 15% Down
Yet more evidence the credit crunch is far from over was announced yesterday, Nationwide one of the UK's largest mortgage lenders said the average price of a property fell by 1.9 percent in August, 10.5 percent lower than property prices were last August. ...
Posted in Credit crunch, Property Prices | No Comments »
Monday, July 21st, 2008
During this time of ‘credit crunch’, many people are finding it increasingly difficult to get a first foot on the property ladder. With our money having to stretch further than it used to, combined with the general clamp down on borrowing, first time buyers are being hit hardest when it ...
Posted in Personal Finance, Property Prices | No Comments »
