Retain the stamp duty holiday to boost the housing market
Contractor Mortgages, 28 July 2010
The UK’s housing market remains quiet but continuing the stamp duty holiday for first time buyers could help according to some experts.
BBA figures show a decrease in mortgage approvals in June
Contractor Mortgages, 26 July 2010
Figures released by the BBA last Friday showed that 34,813 home buyer mortgages were approved in June. That was a drop of just under 4.5% (1,605) on the number approved in May. Approvals for remortgages and equity release remained reasonably the same as in May.
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18,000 mortgage holders suffer because of bank error
Contractor Mortgages, 23 July 2010
As if people aren’t struggling enough to balance their finances, some 18,000 customers who took out variable rate and tracker mortgages with the Yorkshire and Clydesdale Bank have now been informed that the bank miscalculated their repayments and they have a shortfall on their account.
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It’s going to get harder to get mortgages for contractors
Contractor Mortgages, 21 July 2010
There are increasing concerns over who will finance freelancer and IT contractor mortgages in the wake of the FSA’s decision to clamp down on mortgage lending criteria.
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The housing market is heading for a roller coaster ride
Contractor Mortgages, 19 July 2010
The latest RCIS survey shows that confidence is faltering in the housing market and although new instructions are still rising, buyers are losing steam. This latest news does not bode well for first time buyers hoping to obtain an IT contractor mortgage.
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There may be tough times ahead for first time buyers
Contractor Mortgages, 16 July 2010
For first time buyers looking for an IT contractor mortgage raising the money for the deposit is the biggest hurdle they have to face. And the situation could get worse according to the Newcastle Building Society.
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FSA clamps down on irresponsible mortgage lenders
Contractor Mortgages, 14 July 2010
The FSA yesterday proposed some new measures that they hope will reduce excessive mortgage lending. The Authority wants to make mortgage lenders responsible for assessing whether a consumer is able to repay their contractor mortgage.
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Contractor mortgage holders ignorant of their mortgage terms
Contractor Mortgages, 12 July 2010
Some contractor mortgage holders do not know whether they are on a fixed rate or variable rate mortgage, according to the Consumer Financial Education Body.
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House prices dip again but interest rates will remain low
Contractor Mortgages, 09 July 2010
Banks and building societies are hoping to woo savers with new low interest rate accounts ahead if a possible crisis in the home loan market. More than half a million customers have deals that end this month and the financial institutions are keen to lock them into new ones.
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IT contractor mortgages may be in short supply
Contractor Mortgages, 07 July 2010
The Bank of England had some bad news at the end of last week for freelancers hoping to secure an IT Contractor Mortgage.
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