The Latest Mortgage News
Secured loans suitable alternative in sluggish market
Posted 2007-10-14
Many lenders are expected to increase the amount of refusals given to applicants for unsecured credit and personal loans, observed Maya Imberg of Datamonitor Financial Services. A cutback of lending conditions across the loans sector is not expected to last for long. However, for homeowners who are unable to obtain credit elsewhere, applying for a secured loan and using property as collateral could prove to be their best option in these uncertain times. Data from Credit Action shows that the number of secured loans on properties increased by 10.8% in 2007 by the end of August, while unsecured lending continued to fall. Conditions are expected to become more favourable in the future. As Ms. Imberg explained, “The US sub-prime mortgage crisis and global credit crunch will affect the market in the short-term, with the market dipping in 2007 before seeing a slow recovery.” ...
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8.2 million indebted Brits urged not to panic
Posted 2007-10-10
Credit reference agency Callcredit is advising people with high levels of debt to take control of their finances by contacting a debt advice service, creating a sensible budget and shopping around for the best possible debt consolidation and credit deals,...
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Men carry average 20% more debt than women
Posted 2007-10-8
On average, the number of men looking for assistance to manage their debt, have 20% more to unburden themselves as women. Percentage-wise, men will also need a longer period of time to clear their debt, according to debt management firm...
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Demand for borrowing down over-all
Posted 2007-10-6
Director of Statistics David Dooks has announced, “Despite reports of stronger retail sales, card spending was low in September.” And although seasonal adjustments have shown a slight increase in borrowing, he added, “over-all demand for unsecured borrowing remains very weak.”...
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Yorkshire and Humber enjoy greatest home equities
Posted 2007-10-2
While the south normally reflects higher house prices in surveys, Britons may be interested to learn that some of the greatest home equities are found in Yorkshire and Humber. According to banking group Halifax Bank of Scotland, the greatest...