Mortgages News

New home building decreases as mortgage rates rise

17/05/2008

The number of new homes being built in the UK has fallen significantly in the first quarter of 2008.

According to Government statistics released yesterday, house building activity has declined by almost a quarter year-on-year. The Department for Communities and Local Government said that just 32,100 houses were built in the first quarter of 2008, a fall of 21 per cent compared with the previous quarter. more

UK banks seek £90 billion in mortgage asset exchange

Lenders are seeking more funds from the Bank of England, which was originally expected to make £50billion available as part of its special liquidity scheme which was introduced at the end of last month.
Fixed rate mortgage rates rise rapidly

New customers seeking a fixed rate deal are facing a shock as interest rates have risen to the highest level in eight years.
IFA Thinc fined £900,000 for sub prime mortgage oversights

Independent financial advisor firm Thinc has been ordered by the FSA to pay a fine of almost £1million as a result of failings concerning the selling of sub prime mortgages.