The trend in Mortgage lending is very much encouraging as the latest figures indicate a sharp rise of 23% in June. This is really a booster to the recession hit housing and property sector. (more…)

Alistair Darling has catapulted a fresh attack on the bank bonuses- and revealed that he was ready to bring new laws to harness them. The Chancellor’s recent warning, just another among the several warnings given by government over the past twelve months, came in the wake of the announcement that Barclays made. The announcement was that it was awarding £30million reward pay just to five of their staff. (more…)

These days, finding a secured lender is becoming more and more difficult. A future mortgage owned by Citi group was the first one to hit the dust right at the beginning of the credit crunch. This lender lacked strict lending policies and gladly accepted self-declarations of not only self-employed applicants but also from employed applicants, that too, with no backup proof. All that a self-employed person had to prove to them was that he was genuinely self-employed. Many such future mortgagors and similar companies fell to ground. Eversince, we have been experiencing low interest rates and Mortgage Rates. The Bank of England’s lending rate dropped to as low as 0.05% and hence was responsible for the low rates. However, Halifax Building Society has announced and increase in the tracker mortgage rate to 3.5%, whose recent rate on Friday was 2.99%. (more…)