User: sandman1965 Topic: real estate
Category: Home Loans
Last updated: Feb 14 2016 14:36 IST RSS 2.0
 
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Dewan Housing Finance expects SME loan book to rise to Rs 5,000 crore by 2018 14.2.2016 ET: Finance / Insurance
DHFL provides term loans against property, he said, adding that loans up to Rs 20 crore are offered with flexible tenure ranging upto 15 years.
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RBS named worst bank for customer satisfaction 13.2.2016 The Guardian -- Front Page

A survey by consumer group Which? showed the government-owned bank 21 percentage points behind First Direct at the top of the rankings

Royal Bank of Scotland has been ranked bottom out of more than 30 rivals for customer satisfaction, despite pledges by the bailed out bank to improve its battered reputation.

The survey, carried out by consumer group Which? between September 2015 and January 2016, asked more than 20,000 people how satisfied they were with their current account, savings account, credit card and mortgage provider. As well as placing RBS last, the results put NatWest (which is owned by RBS) in the bottom 10 alongside Barclays, Bank of Scotland (part of Lloyds Banking Group) and Clydesdale, which was recently listed on the stock market. Lloyds is tenth from the bottom.

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London mayor race: the Green Party vision of Sian Berry 13.2.2016 The Guardian -- World Latest
Community empowerment, an inclusive economy and small initiatives with big effects are key elements of the Green idea for running the capital Sian Berry was the Green Party’s London mayor candidate in 2008. I don’t recall her saying sentences like this: “The reason you need to build profit into your development plans is because of risk. But if you know you can get something through at a lower risk, you plan for a lower profit.” Or this: “I want to see total transparency on viability with a non-technical summary appraisal.” Or maybe this: “Landlords’ mortgage interest relief is not a business expense, it’s an investment expense.” This is not to argue either that Berry was a hopeless innocent eight years ago or that she has since contracted wonkitis. Rather, my point is that she, like her party, has grown more formidable with experience. In 2008, Berry was known principally for throwing drawing pins (metaphorically, as far as I know) under the tyres of Chelsea Tractors. In the ensuing years she has been, ...
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Tenant evictions reach highest level on record 11.2.2016 The Guardian -- Front Page

More than 250 tenants were evicted every day in England and Wales in 2015, according to Ministry of Justice figures

A total of 42,728 households in rented accommodation in England and Wales were evicted by bailiffs in 2015, official figures show – the highest number since records began in 2000.

Housing campaigners blamed welfare cuts and the shortage of affordable homes for the 2% rise in repossessions over the year, revealed in figures from the Ministry of Justice. More than half the evictions are thought to have been by private landlords.

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I'm a contract worker in a school, and no lender will give me a mortgage 11.2.2016 The Guardian -- Front Page
My partner and I earn good incomes but lenders only consider me employed during term time, discounting the paid charity work I do in the summer Q We are having real problems getting a mortgage. My partner is a self-employed builder who has the necessary two years’ tax forms to prove his income to mortgage lenders. I, on the other hand, am an agency worker. I am a specialist supply teacher who works long-term in schools to help children registered as having special needs. My partner and I both earn good incomes and have been renting a bungalow for £750 a month for the past year. When applying for a mortgage, we have been told time and again that affordability is not an issue as we have a £40,000 cash deposit. The snag we seem to be hitting is that due to the nature of my work, I am only “employed” during term time. All mortgage lenders have asked me for 52 weeks worth of payslips with the same ...
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House possession delay: Could lose 85% tax benefit 11.2.2016 TOI: Home
As if the mental harassment of delayed delivery of a house is not bad enough, you could also be losing 85% of the tax benefit on your home loan, for no fault of yours.
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GPS, construction and video games – everyday uses for Pythagoras’s theorem 10.2.2016 The Guardian -- Front Page
Lily Allen wonders if anyone still needs to be taught a bit of ancient Greek geometry. Well, for a start, without it there would be no digital music Lily Allen gave a voice to bored schoolchildren everywhere this week when she posted on Twitter to moan about Pythagoras’s theorem . “I left school 15 years ago and I’ve not used Pythagoras’s theorem once or even seen a Bunsen burner,” she complained. But before the back rows of maths classes across the country start cheering, she suggested some even more boring lessons. “Are they teaching children about how mortgages work, national insurance or how to fill out a self-assessment tax return yet?” Education minister Nick Gibb quickly stepped in to admonish Allen. “Not everyone’s lucky enough to have a job like yours,” he sniffed. “For many people maths and science are crucial to their career & life ...
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House prices 'force Tory MP' back into parents' home 10.2.2016 The Guardian -- Front Page

William Wragg, Conservative party MP for Hazel Grove, says he can’t afford to buy a house despite earning £74k a year

A Conservative MP earning £74,000 a year says he has been forced to move back in with his parents because he can’t afford to buy a house.

William Wragg, 28, who earns three times the national average wage as MP for Hazel Grove, near Stockport, Greater Manchester, said he had become part of the so-called “boomerang generation” while he saves for a deposit.

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Don't sell that house for a high price 10.2.2016 Rediff: Top Stories (India)
Sellers, beware! Here are the risks involved
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Barriers exist more in minds of marketers than in lives of consumers 10.2.2016 ET: Brand Equity
Every discomfort the consumers have will be turned into an opportunity by disruptive brands/services.
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Is rate cut cycle nearing its end ? 10.2.2016 ET: Economy/Finance
The RBI needs to clarify how its accommodative monetary policy stance is reflected in the context of liquidity management .
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Soon, certificate course in realty management 9.2.2016 DNA: Wide Angle
The National Real Estate Development Council (Naredco), the umbrella body of developers, has decided to conduct a certificate course in Real Estate Management for agents, salespersons and customers-cum-executives. The course will be exclusively designed to develop essential functional skills. The aim is to bring professionalism in the real estate business. "The 40 hour-course is aimed at enhancing the functional, executional and communication skills of real estate agents, property dealers, salespersons, commercial and customer care executives and home loan agents working anywhere in India," said Naredco president Parveen Jain. Jain said, "The programme is structured as a professional interaction between the faculties and the participants in a problem-solving manner. The experience of participants, already in business, is perceived as an essential professional input into the programme." The certificate course is a collaborative initiative of Guru Gobind Singh Indraprastha University (GGSIPU), Naredco and ...
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HSBC fined $470m for 'abusive mortgage practices' during 2008 crisis 5.2.2016 The Guardian -- World Latest

Settlement with US Department of Justice centres on allegations that bank ‘robo-signed’ thousands of foreclosure documents without reviewing paperwork

HSBC has been fined $470m (£325m) for “abusive mortgage practices” in relation to the 2007-2009 housing crisis in which millions of people lost their homes.

The British bank on Friday agreed to pay the fine to settle US federal and state investigations into alleged abuses against homeowners struggling to keep up with mortgage payments during the 2008 global financial crisis.

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Young working-class homeowners 'down 20% under Cameron' 4.2.2016 The Guardian -- Front Page

Under-35s who own their homes fell by 280,000 households since 2010 – with drop more marked among those who do routine or manual work

The number of young working-class households who own their own homes has declined by 20% since David Cameron came to power, analysis commissioned by Labour has found.

The figures suggest the overall number of under-35s who own their homes has fallen by 280,000 households since 2010, with the drop more marked among those who do routine or manual work, or are unemployed.

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New lenders to bring better home loan deals for buyers 4.2.2016 TOI: India Business
In some good news for potential home buyers, new schemes and better deals for customers are set to roll out as a host of fresh entrants intensify competition in the segment.
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Temasek arm expects to build Rs 6000 crore mortgage book in India 3.2.2016 ET: Finance / Insurance
The new company has started with 20 branches in seven states, namely Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Bengal.
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I improved my CIBIL score - I lived happily ever after! 3.2.2016 Sify Finance
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Ghost buyers in real estate: Fault lies with our banking system 3.2.2016 DNA: Money
The Reserve Bank of India (RBI) has admitted that it has received some complaints against banks for giving home loans to ghost buyers. dna investigations reveal that loans to ghost buyers may be a larger problem in the accumulation of non-performing assets (NPAs). "RBI has received complaints about it (ghost buyers), and is looking into the complaints" says RBI DG, S S Mundra. Asked if RBI will take action, Mundra said, "We also agree to the issue you raised… We keep an eye on such incidents. We do investigate such schemes. There is a different NHP for housing loan. But if such loans are part of bank profile, we will certainly look into it.’’   According to dna investigations, builders find 'dummy' buyers to apply for bank loans. Once the loans get approved, the dummy or ghost buyers hand over the money to the builders and in turn get 4-6% over the home loan rate as commission. Brokers or financers provide a "batch of buyers" to builders looking for large amounts like Rs 25 - 100 crores.   Brotin ...
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Introduce capital gains charge on property, says thinktank 3.2.2016 The Guardian -- Front Page
Government should bring in annual levy to slow house price rises, according to the National Institute of Economic and Social Research Britain’s housing crisis can only be solved if the government switches to an annual capital gains charge on homes, according to a report. The National Institute of Economic and Social Research (Niesr) warned that prices would continue to rocket, pricing first-time buyers out of the market , while property was lightly taxed compared with other assets that investors can buy. Buyers need to find a deposit of £80,000 to afford an average home, after a 50% rise in prices over the past ...
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Ghost loans in housing sector under scrutiny 3.2.2016 ET: Economy/Finance
Ghost loans could be ones which are fictitious loans recorded in the books, or these can arise when the borrower on record has taken it at the behest of the real borrower.
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