UK mortgage lender folds

The fallout from the global ‘credit crunch’ continues; UK sub-prime mortgage lender Victoria Mortgages has gone into administration. While by no means a big player in the UK mortgage market, the company did sell ‘£500m worth of mortgages last year, accounting for about 3% of the overall sub-prime market.’
BBC news reports that ‘borrowers whose mortgage […]

House prices to ‘fall in August’

With the recent Bank of England interest rate rises leading to Homebuyers tightening their belts, a leading UK estate agent is predicting a fall in house prices this month.
IFAonline.co.uk reports that Your Move’s "‘predictor’, based on the Land Registry Index,claims that average house prices will peak at £182,748 in July and will fall to £182,134 […]