User: sandman1965 Topic: real estate
Category: Home Loans
Last updated: May 31 2016 10:02 IST RSS 2.0
 
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Retail loans shine amid NPA gloom 30.5.2016 DNA: Wide Angle
As the bad loan pile of corporates rises, small borrowers are keeping credit growth for banks buoyant. And not just that. They are paying loans on time, leading to fall in retail non-performing assets (NPAs) of all banks in fiscal 2016. For top lender State Bank of India, which has gross bad loan outstanding of over Rs 98,000 crore, the retail NPAs constitute only 0.51% of its total retail loan book. For ICICI Bank, HDFC Ltd too, the gross NPAs for retail loans were lower in fiscal 2016 over a year ago. Arundhati Bhattacharya, chairman SBI told dna, "Luckily in our country we have a huge employment on the service side that has held up through the difficult times. This has helped the retail loans. It is also a lot of hard work and process improvement. The same will happen in the corporate side as the economy gets going." The need for homes, credit cards and unsecured credit is keeping the retail loan book of banks growing. SBI has retained its position as the largest financier of home loans in India with ...
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Nationwide says mortgage lending back at pre-crisis levels 24.5.2016 The Guardian -- Front Page

Building society controls nearly 14% of mortgage lending market, but it warns of the effect of competition on profits

Nationwide Building Society, the UK’s second largest mortgage lender, has admitted profits will come under pressure in the coming months as competition from rivals heats up.

The company’s new chief executive, Joe Garner – who joined from BT earlier this year – said the group could continue to offer more attractive rates to the members who own the society by generating profit of £1bn-1.5bn a year.

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UPDATE 2-UK Stocks-Factors to watch on May 24 24.5.2016 Sify Finance
(Adds company news items)
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Indian Securitisation Market grew 45% to around Rs 25,000 crore in FY2016 23.5.2016 ET: Finance / Insurance
Indian Securitisation market grew by 45% to around Rs 25,000 cr in FY2016, a reversal of past three years’ trend.
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Flexibility is the new injustice inflicted on the working class 22.5.2016 The Guardian -- Front Page
Globalisation is often blamed for falling living standards. But the role of flexible working and self-employment in blighting people’s lives is being overlooked

The rise of Nigel Farage, Donald Trump and Marine Le Pen is often blamed on the angry, reaction of blue-collar workers to decades of falling living standards.

The financial crash of 2008 only served to make the situation worse. And so the west finds itself in the grip of powerful protest movements that seek to brush aside failing, sclerotic institutions like the US congress and EU parliament in favour of more locally democratic administrations (or possibly right-of-centre governments with autocratic leaders).

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Brexit: House prices will plummet if Britain leaves EU, UK Treasury says 21.5.2016 DNA: Urban Tales
British house prices could fall by up to 18% if the country leaves the European Union, the Treasury says a claim dismissed as scaremongering by campaigners for a UK exit from the bloc. Treasury chief George Osborne said leaving the EU would be a "profound economic shock" that would lower property values and raise mortgage rates. Treasury analysis estimates property prices will be worth between 10 and 18% less by 2018 if Britain leaves than if it stays. British house prices rose 9% in the year to March, and the value of property is something of a national obsession especially in London, where the average home costs 535,000 pounds (US $775,000), more than 10 times the average annual household income. Some economists think a fall in house prices would be a good thing because it would help new buyers currently priced out of the market. Others argue any benefit would be offset by a rise in mortgage rates and economic instability. Many international banks and ratings agencies have warned that leaving the EU ...
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Flipkart investor Tiger Global cuts stake in Amazon 17.5.2016 Rediff: Business
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
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HDFC to raise Rs 1,500 crore via debentures on private placement 17.5.2016 TOI: India Business
The issue will open on Wednesday and close on the same day. The mortgage lender, Housing Development Finance Corporation (HDFC), said only the persons specifically intimated through a communication are eligible to apply for the debentures and no other person can apply.
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Here’s how to fix the housing crisis, Sadiq Khan | Danny Dorling 10.5.2016 The Guardian -- Front Page
London has the potential to improve its bleak outlook for renters and buyers – which would filter through the UK. But the new mayor will have his work cut out At the weekend London’s new mayor, Sadiq Khan, outlined his plans for the capital , saying: “The key thing for me is to tackle the housing crisis.” This was welcomed by those of us who have been campaigning on this issue. Less so what followed, with Khan adding: “I am bringing together an alliance of people from local authorities, housing associations, developers.” He can do much better than that. There have been enough summits and meetings. It is time for action and (if needs be) the shaming of the government by the mayor of London about the crisis that the government has itself contributed to. The housing situation in the UK is so bleak that the key reason increasing numbers of people are becoming homeless is that they are unable to pay extortionate private sector rents . In February 2016, the Financial Times described the help-to-buy scheme as ...
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Nationwide raises mortgage borrowing age limit to 85 9.5.2016 The Guardian -- Front Page

The last age at which the society will grant a mortgage is 80 years old, to run for five years

Nationwide is to raise the maximum age limit for its mortgages from 75 to 85, the highest of any major lender, in a change of policy that it says reflects Britain’s ageing population.

The building society’s move leapfrogs Halifax, which last week raised its age limit to 80. Many older borrowers have struggled to obtain mortgages, despite changes to employment habits, with many workers staying in their jobs until the age of 70 or more.

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Brexit would hit house prices significantly, says George Osborne 8.5.2016 The Guardian -- World Latest

Chancellor says leaving the EU would lead to a significant drop in property values and rise in mortgage costs

Leaving the European Union would hit house prices significantly and make mortgages more expensive, George Osborne has claimed, as the referendum campaign steps up a gear.

The chancellor is due to publish Treasury research about the short-term costs of Brexit in the coming days, and has revealed that one key finding will be that property prices could fall if voters decide to leave the EU on 23 June.

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Home prices go through the roof but affordability also at its best: HDFC 8.5.2016 DNA: Opinion
Defying an overall low-inflation trend, home prices have hit record high levels but a faster rise in disposable income has made purchasing a house the most affordable ever, according to mortgage giant HDFC Ltd. The average property value of housing units has appreciated to an all-time high of over Rs 50 lakh this year, while the annual income of an average homebuyer has also grown to a record high of to over Rs 12 lakh, shows the latest data compiled by HDFC. While property value has risen for seven consecutive years, income level has been on an uptrend for at least 22 years now. A sharper increase in income levels compared with the housing prices has brought down the affordability ratio to 4.1 -- the lowest in the history and below the previous all-time low score of 4.3 recorded in the year 2004. The affordability ratio equals the average property price divided by the annual income and determines how affordable a housing unit is for a homebuyer as per his or her income. A lower ratio means it has become ...
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Osborne’s fairy godmother can’t make debts vanish forever 8.5.2016 The Guardian -- Front Page
A succession of windfalls from privatisations, pensions and bank fines have created an illusion of prosperity in the chancellor’s Britain. It can’t last

George Osborne has a fairy godmother who, with a wave of her wand, showers money over much of the population. It hardly seems possible in this age of austerity, but it happens all the time and soothes the anger of many who might otherwise protest at the closure of local amenities and cuts to welfare budgets.

This godmother comes in several guises, but essentially always does the same thing: she steals from the future to pay for things today.

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It’s boom time for bank of mum and dad – if you chose the right parents | Barbara Ellen 8.5.2016 The Guardian -- Front Page
The return of 100% mortgages just shows that however much things change, they tend to stay the same

In the same week that the Halifax decided to increase its age limit for borrowing, so that mortgage terms are extended to the borrower’s 75th or even 80th birthday, Barclays announced the reintroduction of 100% mortgages for the first time since the Noughties recession.

The changes have been made in response to ageing demographics, and changing work practices and borrower profiles. It’s a picture that includes people who haven’t paid off their mortgages by the traditional retirement age, people working for longer than they used to and the increasing role of parents in helping their children on to the property ladder.

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China: Should we doubt the 'economic stabilisation'? 6.5.2016 Rediff: Top Stories (India)
Most analysts had predicted a decline in real estate fixed asset investment.
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UPDATE 1-India's ICICI Pru Life to hire banks for up to $700 mln IPO -IFR 6.5.2016 Sify Finance
* ICICI Pru Life to hire BofA Merrill, ICICI Sec
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ICICI Prudential Life to hire banks for up to $700 mln IPO 6.5.2016 Sify Finance
SINGAPORE/HONG KONG (Reuters) - ICICI Prudential Life Insurance is set to hire Bank of America Merrill Lynch and ICICI Securities for its planned $600 million to $700 million initial public
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ICICI Pru Life to hire BofA Merrill, ICICI Securities for IPO: Report 6.5.2016 ET: Finance / Insurance
ICICI Bank Ltd, India's biggest private-sector lender by assets, owns the majority of the insurer, while Britain's Prudential PLC owns 26 percent.
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Halifax raises mortgage borrowing age limit to 80 - The Guardian 6.5.2016 mortgage - Google News
Halifax raises mortgage borrowing age limit to 80 The Guardian Halifax has raised its age limit for mortgage borrowers by five years to 80 in a further sign of the financial pressure on homeowners as property prices continue to rise. The move by Britain's biggest mortgage lender means that a 55-year-old customer ...
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Barclays’ 100% mortgage is great – if your parents are wealthy | John Elledge 5.5.2016 The Guardian -- Front Page
By catering to those whose family can stump up a downpayment on a house, the bank is widening the homeowning divide.

For six years now, my partner and I have been the proud – nay smug – owners of a small flat in trendy north London. It’s brilliant, owning a flat. I’d recommend it. Would own again.

So how did I accomplish this incredible feat, I hear you ask. Did I work hard and save harder? Do I have a secret life as an investment banker? Am I just better than other people?

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