User: sandman1965 Topic: real estate
Category: Home Loans
Last updated: May 04 2016 08:33 IST RSS 2.0
 
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Barclays offers 0% deposit mortgage to home buyers 4.5.2016 The Guardian -- Front Page

British high street bank increases the multiple of earnings against which people can borrow on its ‘family springboard’ mortgage

The no-deposit mortgage has returned, with Barclays removing the need for buyers to put down any deposit when buying a home using its “family springboard” mortgage.

The deal had previously allowed people to climb on to the property ladder with a 5% deposit, provided that a “helper” – often the home buyer’s parents – puts cash equating to 10% of the house purchase price into a savings account linked to the mortgage.

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'Bank of Mum and Dad' behind 25% of British mortgages 3.5.2016 The Guardian -- Front Page

Lending power of parents to reach £5bn this year

The “Bank of Mum and Dad” will help finance 25% of UK mortgage transactions this year, according to research.

Related: UK housing crisis: four in 10 renters fear they will never own a home

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6 ways you can make the best use of your annual bonus 2.5.2016 Rediff: Business
The first step in your order of priority should be to pay off any high-cost debt you might have incurred.
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Nationwide tightens lending criteria for buy-to-let landlords 29.4.2016 The Guardian -- Front Page

Building society’s changes come as the Bank of England attempts to rein in buy-to-let lending

Nationwide building society is tightening up its criteria for lending to buy-to-let landlords ahead of changes to how much tax relief they will be allowed to claim against their repayments.

Landlords who take new loans from the society’s specialist arm The Mortgage Works (TMW) will only be able to borrow up to 75% of a property’s value, instead of the current 80%, and will have to prove that their rental income is at least 145% of their monthly mortgage payments. Currently the figure is 125%, in line with most other lenders.

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Buy-to-let landlords blamed for decline in DIY among under-30s 29.4.2016 The Guardian -- Front Page

Figures suggesting spending on DIY among ‘generation rent’ has fallen by third since 1996 coincide with report showing age of first-time buyers still rising

Britain’s young adults are no longer putting up shelves, hanging wallpaper or retiling bathrooms, according to figures that reveal DIY is in steep decline among the so-called “generation rent” who cannot afford to buy and fix-up their own home.

Credit card provider MBNA said spending by the under-30s on DIY had fallen by a third since the mid-90s. It blamed the rise of buy-to-let landlords.

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Collective living’s fine for students but for everybody else it stinks | Jonn Elledge 28.4.2016 The Guardian -- Front Page
London’s ‘first co-living provider’ is another sign that the government and the market won’t take the radical action need to solve the housing crisis

When I moved from the suburbs to London proper at the age of 21, the first flat I looked at promised a garden, which was odd, because it was in a tower block. It turned out, on closer inspection, to be an area of rooftop tarmac surrounded by a wire fence, beyond which stood a car park.

The next place we looked at, my friend Rachel asked the lettings agent if the area was safe for a woman at night. “Round here?” he snorted, cheerily. “Nah.”

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Mortgage lending for March returns to record high of £17bn 26.4.2016 The Guardian -- Front Page

Rush to beat stamp duty deadline lifts lending to the peak levels seen before the financial crash of 2008

Mortgage lending surged dramatically in March, returning to the peak levels last seen before the financial crash, as buy-to-let speculators and second home buyers rushed to beat the stamp duty tax deadline.

Total lending rose to £17.1bn, 64% higher than the same month a year ago, and the highest figure since April 2008, according to the British Bankers Association.

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More rent than pay a mortgage: the Tory dream for London has crashed and burned - The Guardian 26.4.2016 mortgage - Google News
More rent than pay a mortgage: the Tory dream for London has crashed and burned The Guardian Perhaps its single biggest finding is this: the proportion of Londoners who own a home with a mortgage has been sliding since the early 90s – and has now dipped below the number who rent privately. In John Major's time, less than 20% of all ...
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HDFC Life joins hands with Indiabulls Housing Finance for corporate agency tie up 24.4.2016 ET: Finance / Insurance
Indiabulls Housing already provides its home loan and loan against property buyers with ‘Credit Protect Plus’ group policy of HDFC life.
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5 home loan mistakes you must avoid 24.4.2016 Rediff: GetAhead
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
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Marginal drop in retail lending delinquencies: Report 21.4.2016 TOI: India Business
Mumbai, Apr 21 () There was a marginal drop of 2-3 basis points in the retail lending delinquencies at 1.52 per cent in the country at the end of fourth quarter of 2015 as compared to 1.54-1.55 per cent over the previous year, a report said.
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Withdraw provident fund only for medical emergency 21.4.2016 Rediff: Business
While govt has decided to maintain status quo, don't use the money for house, marriage or education
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Consumer debt in India is on steady rise 21.4.2016 DNA: Opinion
Consumer debt is growing fast in India. While personal loans, extended by banks, clocked a furious pace of 28.7% over the previous year, the fastest compared to all other loan segments at the end of February, credit cards are growing at 23.6%, according to the last available consolidated data from the Reserve Bank of India (RBI). Both loan segments, though the combined volume is still smaller compared to the home loan sector, are growing much faster than housing loans, currently growing at the rate of 19% over the previous year. Retail loans (home loans, personal loans, educational loans, vehicle loans, consumer durable loans and credit cards) outstanding for Indian banks during April-February is Rs 13,74,900 crore, growing at the rate ot 19.2%, while the overall bank credit – at Rs 65.77 lakh crore, is growing at the rate of 9.7% over the previous year. Personal loans accounted for Rs 2,98,200 crore of the total retail loans, credit cards Rs 38,500 crore. Total home loans by banks stand at Rs 7,35,900 ...
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Older homeowners unlocked £393m from properties in early 2016 21.4.2016 The Guardian -- Front Page

Equity Release Council reports biggest quarter for lending in its 25-year history on the back of drawdown mortgages

Older homeowners unlocked a record amount of value from their properties in the first three months of 2016, cashing in to the tune of £393m.

The figures show housing wealth is “centre stage in financial planning for later life”, said the Equity Release Council, which reported the biggest quarter for lending in its 25-year history.

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HDFC to list up to 10 percent stake in life insurance JV 20.4.2016 Sify Finance
MUMBAI (Reuters) - Indian mortgage lender Housing Development Finance Corp said on Tuesday it plans to list up to 10 percent of its life insurance joint venture with Britain's Standard
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US home building falls in March 19.4.2016 TOI: Intl Business
Washington, April 19, 2016 (AFP) -New construction of US homes slid in March to a five-month low but was well above last year's pace, signaling continued strength in the economy, data showed Tuesday. Housing starts dropped 8.8 percent to an annual rate of 1.
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Right to the city: can this growing social movement win over city officials? 19.4.2016 The Guardian -- World Latest
From the Taksim Square and Nuit Debout protests to bank takeovers in Barcelona and women’s workshops in Delhi, the pressure for more inclusive cities is mounting. As the UN gears up for Habitat III, will governments listen? How is public space in European cities changing? On a grey and drizzly April morning just steps away from the University of Barcelona, dozens of men and women, holding protest banners and wearing slogan-emblazoned T-shirts, stormed into a branch of CatalunyaCaixa bank, chanting “We will never be defeated!” Within a matter of minutes, the floor was scattered with paper, the walls plastered in posters and stickers. The room was charged with the anger and joy of protest. Bank employees sat sheepishly in a corner, as the protesters continued to sing and shout; police stood across the street, ...
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UBS blamed in U.S. trial for $2.1 billion in mortgage bond losses 19.4.2016 Sify Finance
By Nate Raymond
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Why the housing bill could give the Lords another victory 18.4.2016 The Guardian -- Front Page

This badly-drafted and timed bill won’t address sky-high rents or house prices – expect peers to win concessions

As ministers braced themselves for this week’s spate of Lords defeats on their half-baked housing and planning bill I happened to be inspecting a half-built block of flats in west London with friends who are contemplating downsizing.

Lucky them, you may murmur, if you are struggling with sky-high rents in the private sector or trying to put together a mortgage deposit in a race against seemingly endless price rises.

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What all home loan co-applicants should know 17.4.2016 Rediff: GetAhead
Before taking the plunge and being a co-applicant, make sure that you are aware of the rights and responsibilities that come with it!
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