Archives for April 2012

UK Mortgage Rates on a Recent Rise

New York, NY (PRWEB) April 21, 2012 mens lifestyle and finance magazine today remarked on the current increase of mortgage rates in the UK, which have held steady for the past three years and are reportedly about to make a jump.

UK mortgage rates are on the rise, according to a report from the BBC. The article reports that ten or more UK lenders have recently announced that rates will be rising for new borrowers in the upcoming weeks. The article goes on to show that figures from the Bank of England reveal that mortgage rates for a two-year fixed rate deal have risen 0.55% from September 2011 to March 2012. Aaron Strutt, who works for mortgage brokers Trinity Financial, is quoted as saying, Lenders seem to have increased their rates in two stages this week, some at the beginning and others catching up later in the week. It seems that if folks are planning on buying homes within the UK, theyll need more than just some good estate agents to help them land a deal.

Another article published by Jan Harris of the unbiased UK financial advice site Finance Markets, some of the big names included in those lenders who have increased the mortgage rates include Abbey, HSBC, Halifax, Britannia, and Lloyds TSB. Harris writes that borrowers can expect to pay between 0.1% to 0.4% more on a fixed, tracker or discounted loan. The article goes on to report that even more lenders are supposedly increasing their standard variable rates within the next couple of months, due to higher borrowing costs and the current overall state of the wholesale financial market. Banks such as Bank of Ireland, Halifax and Cooperative Bank will all bump up their standard variable rate in the coming months. Harris states that banks are blaming the jump in mortgage rates on a preceding rise in the price of raising funds to lend out to the borrowers.

RoadFish.coms Senior staff writer is quoted as saying, Its interesting to me how mortgage rates can be so radically different from nation to nation. The US mortgage rate is on the downswing, and has been for the past few years, whereas home loans in the UK are about to make a big jump. Although I will note that the BBC reports that UK interest rates have been at a record low of 0.5% for the past three years, so perhaps this recent rate increase wont be as extreme as it would have if the rates were higher to start with.

HSH Associates, a company who surveys lenders and produces mortgage statistics, has a well-constructed list of historical mortgage interest rates that goes as far back as 1983. For 2012, rates span 3.21% and 4.27, versus four years ago in 2008 when the lowest interest rate reported was 5.42% and the highest was a whopping 7.00%. According to the Bank of Englands official Bank Rate History, the UK has enjoyed a rate of 0.5% since March 5th, 2009, and hasnt seen highs even close to 7.00% since 1998.

RoadFish.coms still maintains that London would be an amazing place to live, despite the climbing mortgage rates. RoadFish.coms Senior staff writer is quoted as saying, I would still move to London in a heartbeat. My brother lives there now, and raves about it constantly. The culture, events, and history of the city are, in my opinion, chart-topping. If I ever moved there, I would definitely have to take a good hard look at the mortgage rates and depending on where they landed, I would perhaps shift gears and become a renter if they continue to increase as weve seen this month.

The above-mentioned BBC article states that according to Moneyfacts, a financial information service, the months of February and March this year indicated a large drop in the number of mortgage deals available to homebuyers. Due to the overall state of the financial market, lenders had begun to require a 50% deposit from borrowers to attain a loan even before the beginning of the year. The article includes a quote from Sue Anderson, a member of the Council of Mortgage Lenders, stating, “Funding costs have been experiencing upward pressure for lenders, who have been operating at low margins. So at some point lenders will take the decision to raise rates for good balance sheet management.

About RoadFish is an online men’s lifestyle and finance magazine targeted toward men in their 30s and 40s that have already attained a moderate level of success in life, and are striving toward more. It goes over current events of interest to this group, such things as exciting adventures, making money, consumer interests, hot chicks, and the stock market as well as ways to make more and save more money. It is a publication owned by Purpose Inc.


More Hard Money Mortgage Lenders Press Releases

Dan Polimino – No Good Options

Dan Polimino – No Good Options
from No Good Options
Price: USD 0
View Details about Dan Polimino

Real Estate Center – Real Estate Red Zone

Real Estate Center – Real Estate Red Zone
from Real Estate Red Zone
Price: USD 0
View Details about Real Estate Center

Most popular Government Foreclosures auctions

Some recent government foreclosures auctions on eBay:

Real Estate Foreclosures: Why They Are Hot Right Now

Article by Bob Smith

It has become common knowledge that investing in real estate can be very profitable. But with the many available real estate foreclosures, investing has even become more profitable. Since real estate foreclosures are usually sold at below average market prices, you can be sure to save a lot of money.

Real estate foreclosures include pre-foreclosures, bank foreclosures and government foreclosures. They are properties re-possessed by the mortgage creditors from the owners because of non-fulfillment of mortgage obligations. Since the mortgage creditors would like to recover the losses they incurred from the foreclosure proceeding and holding costs, they choose to sell real estate foreclosures quickly even without profiting from it.

Looking for real estate foreclosures is relatively easy. You can buy distressed properties or properties in pre-foreclosure stage directly from owners facing foreclosure. These owners are usually under time pressure and are willing to sell their homes at very low prices. Just make sure that all the owners agree to the sale and all legal documents pertaining to the house’s ownership are in order.

Meanwhile, real estate foreclosures sold at foreclosure auctions can also be very profitable. To participate in a foreclosure sale, you must be ready to purchase the property “as is” and paid in cash. Bidders in foreclosure auctions usually bring a cashier’s check containing the full amount of their bid.

If you were not lucky on a foreclosure auction, you can still purchase real estate foreclosures from banks or real estate brokers. For more convenience, you can subscribe to foreclosures listings and get instant access to really amazing real estate foreclosures sold all over the nation.

In the past few years, real estate foreclosures have increased in numbers due to high interest rates, predatory lending practices and slow home value appreciation. This means thousands of real estate foreclosures to choose from. Buyers can now afford to be very choosy and pick the best among the many real estate foreclosures. You can choose real estate foreclosures as rental properties or fixer uppers that can be sold again for a considerable profit.

If you decide to buy one of these real estate foreclosures, you should thoroughly inspect it. You can choose to hire a professional to check for structural damages. The property’s physical condition should be commensurate to the amount you will be paying for the property. You can even let the seller shoulder repair costs for damages that you discover before closing the deal. Aside from the physical condition, you should also check the financial documents for secondary liens, claims and other encumbrances. Also make sure that all the owners listed on the title agree on selling the property.

Bob Smith regularly writes for E-ForeclosureSearch. If you want more information on Real Estate Foreclosures and other real estate- related topics, you can visit