Posted on 15 August 2009
Tags: charges, CML, debt counselor, economists, government, highest level, homeowner, household, lenders, letter, Mortgage, phone, politicians, Profits, repossession, The Treasury Select Committee, Unemployment, unfair
The number of homeowners falling behind on their mortgage payments has reached the highest level in 12 years. The banks have been accused of cashing in on struggling households as the number increases.
The charges imposed on home owners in arrears by Britain’s high street lenders have been described as unfair by politicians and economists.
According to The Treasury Select Committee the lenders are charging as much as £150 for a visit by a debt counselor and £35 for sending a letter or making a phone call. These are excessive charges that go beyond covering administrative costs and are used to boost profits which is intolerable.
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Posted on 11 August 2009
Tags: Council of
Mortgage
Lenders, experts, highest level, housing market, housing sector, market, Mortgage, price, property, prospective buyers, sale, stock
The housing market is continuing to boom with the number of mortgage approvals rising for the fifth consecutive month to the highest level for a year.
According to the Council of Mortgage Lenders (CML), around 45,000 mortgages were issued during the month with a 26 per cent rise in the number of first-time buyers getting on the property ladder than in May.
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