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Housing Schemes Archive
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CML forecast a sharp rise in repossessions, but Government initiatives hope to minimise those affected.
Following one of the toughest years ever for homeowners in 2008, the Council of Mortgage Lenders (CML), is forecasting even tougher times as the recession bites deeper. While mortgages for borrowers on variable rate deals have become progressively cheaper this year, there is concern for those whose scheme comes to an end in 2009. Falling [...] -
An overlooked leg up for first time buyers?
In this years budget speech, the Chancellor announced a major revamp to the Open Market HomeBuy scheme, designed to make it more attractive and widen the base of borrowers who are eligible. However, with the credit crunch, and subsequent difficulties suffered by the UK mortgage market dominating the headlines, this beneficial scheme has been somewhat [...] -
Woolwich add to first time buyer’s woes.
Woolwich have become the latest mortgage lender to reduce the maximum they will lend from 95% to 90% of the property value. The trend, which first surfaced only a matter of weeks ago, has already been adopted by at least a dozen lenders including major players such as Britannia, Alliance & Leicester and Cheltenham and Gloucester. [...]
