2008 Archive

First-time buyer affordability improves in 2008

First-time buyers see affordability drop - but mortgage crunch still remains

Falling house prices and interest rates have boosted affordability for first-time buyers over 2008.

Land Registry: House prices down 12%

Latest figures from the Land Registry show house prices fell 12.2 per cent in the 12 months to November.

Estate agents face 'make or break year'

Will there be any estate agents left in 2010?

Estate agents admit 2009 could bring more job losses in the industry, but they maintain house price falls will stop and property values could bounce.

Brits stop remortgaging to spend

House price falls and the credit crunch have stopped Britons remortgaging to spend, as they focus more on paying off their mortgages.

Bailed-out banks cost up to £48 a month more on mortgages

Mortgage lenders that have been bailed out by the government are now as much as £48 a month more expensive than the rest of the market.

House prices to fall 10% in 2009

House prices will end 2009 25 per cent lower than the peak of the market, according to new analysis.

Mortgage approvals continue dive

Mortgage lending drops as house pruces drop

Mortgage approvals for home buyers fell 60.7 per cent in the last year - after first lenders pulled in loans and then buyers turned away from the market as house prices dropped.

Homeless numbers to surge in 2009

Homeless figures to surge in mortgage crunch

Next year could see a surge in the number of people homeless, a charity has warned.

Government pushed to fill empty homes

The government is being pushed to invest in the UK's empty homes to combat the UK homelessness crisis.

Bank of England 'failed to understand credit crisis'

The Bank of England knew of unsustainable lending but failed to act, deputy governor Sir John Gieve has stated.

Barclays chief: Credit crunch to hold for year

Credit crunch to persist says Barclays boss

Barclays chief executive John Varley has warned that a snap recovery for the UK's banking sector and an easing in the availability of credit was unlikely to occur soon.

Coventry cuts mortgage rate

Coventry Building Society is reducing its standard variable mortgage rate (SVR) to 4.99 per cent, it has just announced.

NatWest and RBS launch new fixed-rate mortgages

NatWest and RBS are offering new prices on fixed-rate mortgages for two and three years.

Lenders cannot predict house prices in 2009

Nationwide and Halifax are both not providing estimates on houses for 2009.

Repossessions up to 75,000

2009 will see a total of 75,000 repossessions.

'Expensive' fixed rate mortgages only option

Sixty-nine per cent of mortgages on the market are now fixed-rate deals, as lenders pull tracker mortgages.

500,000 to be in mortgage arrears in 2009

The number of homeowners falling behind on their mortgage will increase by 138 per cent in the coming year.

Mortgage lending falls a 'staggering' 51%

Mortgage lending dropped 51 per cent in November when compared to the last 12 months and 22 per cent from the previous month.

BoE Bean: 0% interest rates are a possibility

Charlie Bean: Never say never on interest rates

Interest rates in the UK could head down to zero per cent, a leading member of the Bank of England's monetary policy committee (MPC) stated today.

Estate agents sell just 6 homes a month

Estate agents are now selling just six properties a month.

Abbey slashes fixed mortgage rates by 0.6%

Abbey is cutting rates on fixed mortgages by 0.6 per cent and is introducing an 85 per cent loan for first-time buyers and home movers.

Nationwide offers 95% mortgage

Today Nationwide launched a new mortgage allowing customers to borrow up to 95 per cent of the value of their mortgage.

Bank of England mulled bigger interest rate cuts

Bank of England could well cut interest rates further

The Bank of England monetary policy committee (MPC) pondered cutting interest rates below two per cent at its last meeting.

Co-op cuts SVR for mortgage borrowers

The Co-operative Bank has become the latest mortgage lender to slash its standard variable rate (SVR) for borrowers.

Nationwide: New 95% LTV mortgages

Nationwide has launched a new two-year tracker mortgage and is boosting the range of products on offer for people requiring higher loan-to-value (LTV) rates.

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