Nationwide reporting house price slowed in August

UK building society Nationwide reports that house price rose by just 0.6% this month (compared to an annual rate of around 9.6% for the year).
The Guardian notes that August’s rise “was slightly higher than the 0.5% the City had been expecting and represented a bounce back from the 0.1% increase registered in July, but the […]

HIP’s being ignored by lenders?

The Home Information Pack fiasco continues, with the speculation earlier in the week that UK mortgage lender HSBC is requiring house buyers to pay local authority checks as before, despite thesese checks being an integral part of HIP’s.
However a report on BBC news carried a statement from an HSBC spokesman clarifying the situation, […]

UK mortgage lenders deny sub prime problems

IFAonline.co.uk reports that UK mortgage lenders including Kensington Mortgages and BM Solutions are citing ’structural differences’ between the US and UK housing markets as an indication that the American ’sub prime’ crisis will not find a mirror over the atlantic.
The article cites Ben Hammond from Kensington:
“The UK market is fundamentally different from the US in […]

BNP Paribas suspends three mortgage funds

France’s larest bank, BNP Paribas, today suspended three asset-backed securities funds. The move, which comes in the wake of increasing fears over the American ’sub-prime’ market, today hit share prices across the world.
In a move which other European banks are likely to follow, The Times reports that’ BNP Paribas Investment Partners suspended three funds worth […]

HIP providers proving critics wrong?

As reported earlier in the month on mortgagenewsnetwork.co.uk, fears have been raised over the ability of Home Information Pack providers to deal with the rush of HIPs now required due to Government legislation.
However the Association of Home Information Pack Providers (AHIPP) reports that ’since the launch of HIPs on 1st August, AHIPP members have achieved […]

Continuing mortgage troubles in the US

The fallout from the ’sub prime’ lending crisis in the US continues, with American Home Mortgage Corp (AHM), the countries 10th largest mortgage lender filing for bankruptcy.
The Times reports that “growing numbers of home owners have been defaulting on their payments in recent months, prompting mortgage providers to write down large tranches of debt. The […]

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