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Monthly Archives: December 2009
Foxtons to contest ‘unfair’ landlord charges ruling
The estate agents Foxtons is set to appeal against a High Court ruling on unfair landlord fees, the Times newspaper has reported. In July, the High Court ruled that Foxtons unfairly charged landlords commission every time their tenants renewed their … Continue reading
Posted in Financial News
Tagged Estate agent, Foxtons, Letting, Office of Fair Trading, Property, Rental, Times
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Closing legal loophole will save thousands from losing homes
Mortgage lenders will be barred from seizing a borrower’s property without a court order after the closure of a legal loophole, to be announced tomorrow. In a crackdown that will be hailed as a victory for thousands of homeowners struggling … Continue reading
Posted in Financial News
Tagged Add new tag, Court order, Financial services, Loan, Ministry of Justice, Mortgage, Repossession
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Critical Illness payouts improve
The number of critical illness (CI) insurance claims paid out by insurers has risen significantly over the past few years, according to the latest data from the Association of British Insurers (ABI). Some 90% of CI claims were paid in … Continue reading
Mortgage lending up
Mortgage lending continued to hold up during November, although the take-up of consumer credit registered a fall as consumers concentrated on paying off their debts and saving. There were 44,713 mortgage approvals last month – the same level as seen … Continue reading
Posted in Uncategorized
Tagged Add new tag, BBA, british bankers association, Credit, Debt, Mortgage, Unsecured loan
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Mixed year for mortgage borrowers
2009 has been a mixed year for mortgage borrowers, according to the latest data from Moneyfacts Group. With base rate falling to an all time low of 0.5% in March, borrowers on existing tracker deals and standard variable rate … Continue reading
Posted in Uncategorized
Tagged Add new tag, Base Rate, Financial services, Loan, Loan to Value, Mortgage
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Lenders punish consumers who shop around for credit
Consumers who shop around for the most favourable terms on unsecured credit risk being penalised by lenders, according to a report to be published today by the Treasury select committee. There are “likely to be serious flaws” in the credit … Continue reading
Posted in Uncategorized
Tagged Add new tag, Credit card, Debt, Home, Loan, Office of Fair Trading, Personal Finance, Unsecured loan
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Recession almost at an end
The UK economy will come out of recession by the end of 2009, but growth is unlikely to have returned to pre-recession levels by the end of 2011, according to new year predictions from the CBI. Its latest economic … Continue reading
Property black hole threatens banks’ lending
Britain is at risk of a mass sell-off of distressed properties that would send values into a double dip and impair the lending ability of banks. The dire warning is contained in the Bank of England’s latest Financial Stability Report, … Continue reading
Remortgaging: is now the best time?
There’s been a recovery in property prices since April which has left homeowners in a stronger position. Many may be in the best position to remortgage in more than two years, especially as lenders offer better rates to people with … Continue reading
Posted in Financial News, Mortgage News
Tagged Add new tag, Base Rate, Business, Financial services, Loan, Mortgage, Variable-rate mortgage
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Mortgage lending levels fall
The Council of Mortgage Lenders (CML) has said the conditions in the housing market will remain steady, despite figures showing that gross lending fell by some 10% during November. In total, gross lending for house purchases amounted to £12 billion … Continue reading
Posted in Financial News, Mortgage News
Tagged Business, CML, Council of Mortgage Lenders, Economist, Interest rate, Mortgage, Stamp Duty
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Justin Moy