UK Finance News

UK home repossessions have grown to 11,300 during the third quarter of 2008 says a report from the Council of Mortgage Lenders (CML).
The previous three months had recorded 10,000 families losing their homes because they were unable to meet mortgage repayments. There was a slight increase in the number of homeowners falling into arrears of [...]

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It appears that the proposed takeover of HBOS by rival bank Lloyds TSB is in danger of causing more problems than it sought to solve. Shares in HBOS fell in this mornings trading by 11.5% and Lloyds by 7.1% as experts realised that a merger would not solve the underlying problems of HBOS supposed under [...]

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Homebuyers seeking to purchase property under the Government’s new shared equity initiative risk losing out if the property market picks up, warns the Law Society.
The Government’s revised equity share scheme allows vulnerable families who are no longer able to keep up with their mortgage repayments the chance to sell their home and rent it back, [...]

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Sub Prime mortgage lender Edeus look to be a bit desperate to off load some of the mortgages on it’s books, having offered a discount to customers for early re payment.
Edeus have so far tested the water with 400 of it’s customers and interest from eligible customers is said to be 20% at this stage. [...]

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Halifax, Britain’s biggest mortgage lender is the last of the ‘big four’ lenders to put it’s fixed rate mortgage products out of the reach it’s customers.
In keeping with it’s rivals Halifax has raised the cost of it’s fixed rate mortgages from 5.59% in January 2008, to an uncomfortable 6.99% today.
Fixed rate mortgages have been around [...]

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