User: sandman1965 Topic: real estate
Category: Home Loans
Last updated: Sep 03 2015 24:51 IST RSS 2.0
 
1 to 20 of 5,892    
Home shortage and lending rules: why Generation Rent is out of luck 2.9.2015 The Guardian -- Front Page
Property prices have not always risen so quickly, but insufficient new housing means little hope of improvement Tales from the frontline of Britain’s property market in one week alone: in Exeter, a letting agent demands £800 in fees before renting a mundane one-bed flat – and £360 just to change the name on a photocopied contract; in west London, an estate agency chain charges £1,500 to desperate buyers, as well as demanding thousands from the seller; in Leicester a hard-up couple are forced to pay £250 to a letting agent as a reservation fee before even applying for a ...
Also found in: [+]
Revealed: the widening gulf between UK salaries and house prices 2.9.2015 The Guardian -- World Latest

Buyers in England and Wales forced to spend up to 12 times their income as gap between earnings and house prices widens

The gap between income and house prices has sky-rocketed so much in the last 20 years that even in the most affordable regions of England and Wales buyers are forced to spend six times their income, a new data analysis reveals.

The situation is most dire in the capital, where the median house now costs 12 times the median London income.

Continue reading...
Also found in: [+]
Yes Bank to foray into credit cards 2.9.2015 Telegraph: Business
Yes Bank today said it would enter the credit card business by June and appointed former HDFC Bank executive Rajanish Prabhu to lead the division.
Also found in: [+]
Economic growth will not be the answer to the UK's housing crisis 1.9.2015 The Guardian -- Front Page
Britain’s economy is likely to grow but so too will house prices and rents, prolonging the country’s crisis of unaffordable housing The UK enjoyed the fastest economic growth in the developed world in 2014 at 3%. There are signs that lower levels of business investment is beginning to recover and the forecasts are for economic growth of around 2.5% this year and next. But this will be fuelled mainly by higher household spending. High employment levels, a combination of near-zero inflation and accelerating wage growth will help consumer confidence and the willingness to reduce savings and increase borrowings. At the same time the prospects for any significant expansion in affordable housing have been thrown into doubt by the announcement of the extension of the right to buy to housing association tenants. Since the decline of local authority housebuilding in the 1980s, the UK hasn’t seen building enough houses to keep pace with population ...
Also found in: [+]
L&T arm bets on home loans 31.8.2015 Telegraph: Business
L&T Finance has been pursuing an ambitious growth plan in retail lending after it failed to bag a universal bank licence last year.
Also found in: [+]
‘Worrying trend’ as older people cash in pension pots to pay off rising debts 30.8.2015 The Guardian -- Front Page
Charities are concerned for the welfare of those nearing retirement spending their nest eggs to pay off loans

Thousands of retirees and older workers have cashed in their pension pots in the past few months in an effort to pay off what charities describe as a “worrying trend” of escalating debt in retirement.

Debt charity StepChange says it saw about an 80% increase over the two years to 2014 in the number of over-60s contacting it with trouble paying off debt, with an average sum of £18,624, while new figures from Old Mutual suggest for some older people the debt problem is much more severe.

Continue reading...
Also found in: [+]
Moody's predicts China property market recovery 29.8.2015 TOI: Intl Business
The downward pressure on China's home prices will gradually ease through the rest of the year as house sales rise and developers manage to lower inventory levels, ratings agency Moody's predicted in its latest industry report.
Also found in: [+]
Towns the UK property boom forgot: ‘We sold at a £410,000 loss’ 29.8.2015 The Guardian -- Front Page
Buyers in Newry, Northern Ireland, lost it all after believing prices would keep rising – while other UK towns such as Ferryhill and Conwy are also suffering It was a luxury house in a good area, but it was on the market at £695,000 so David Callaghan, 43, reckoned that after negotiating hard to bring it down to £650,000 he had landed a bargain. The property market was roaring away and he was convinced the price would be £750,000 in a year’s time. So he cobbled together the money, stretching himself to the limit with a huge £485,000 mortgage, plus his deposit. But this was autumn 2007, and this was Northern Ireland. For a brief moment in time a province that was a byword for violence transformed itself into the world’s most sizzling property market. Builders who were knocking out small estates of semis initially priced at £120,000 were selling them for £200,000 on completion six months later. Investors from the Celtic Tiger south were driving north and snapping up anything they could lay their hands on. ...
Also found in: [+]
Overseas borrowing by Indian firms drops 42% in July 28.8.2015 ET: Economy/Finance
India Inc's external commercial borrowing fell by 42.5 per cent to $ 2.14 billion during July 2015 compared to the same period last year.
Also found in: [+]
How can we fund an extension? 27.8.2015 The Guardian -- Front Page

We need £60,000 for the extension – how can we fund the remaining £25,000?

Q In June this year we bought a semi-detached house requiring modernisation for around £400,000 with a 90% mortgage. We have already re-plumbed it but still need to redecorate the whole house.

We also want to have a single-storey extension built to make a large family living/dining kitchen and downstairs loo. We know it will be worth it as neighbours with a similar sort of kitchen extension and modernised interior sold their house at the end of 2014 for £532,000.

We probably need £60,000 for the extension. By next summer we hope to have saved £35,000. We both currently work full-time but to make matters interesting, have a baby on the way. How can we fund the remaining £25,000 in order to extend next summer?
JS

Continue reading...
Also found in: [+]
ICICI ties up with IMGC to offer a mortgage-guaranteed home loan product 27.8.2015 ET: Banking
ICICI Bank has tied up with IMGC to offer a product that will enable individuals to borrow more by way of home loans and take a longer tenure loan than they are otherwise eligible for.
Also found in: [+]
ICICI offers home loans with guarantee 27.8.2015 TOI: India Business
Those who have not managed to buy a house until middle age can now get a long-term loan with ICICI Bank introducing a product for this segment.
Also found in: [+]
ICICI Bank homes in on new loan scheme 27.8.2015 Telegraph: Business
Mumbai, Aug. 26: ICICI Bank today launched the country's first mortgage guarantee-backed loans for retail customers who plan to buy their first home in the affordable housing segment.
Also found in: [+]
The right to buy: the housing crisis that Thatcher built 26.8.2015 The Guardian -- Front Page
Now revived by David Cameron, the right to buy social housing was a key Conservative policy in the 80s: populist, profitable, and with its disastrous effects yet to come In August 1980 Margaret Thatcher’s first government, barely a year old but already deeply unpopular and bogged down by problems, produced a Housing Act. Even more than most legislation it was prolix and repetitive, but its bold intention stood out: “to give ... the right to buy their homes ... to tenants of local authorities”. It envisaged a revolution in how a large minority of Britons lived. That revolution – which David Cameron’s government controversially hopes to revive by extending the right to buy to housing association tenants – had been an awfully long time coming. Contrary to the conventional wisdom, cleverly sown by the Conservatives in 1980 and doggedly cultivated by rightwing Britain ever since, selling off council homes was not a sudden stroke of genius by the Thatcher government. The idea was as old as council housing ...
Also found in: [+]
ICICI Bank launches ‘mortgage guarantee’ backed loans for affordable housing sector 26.8.2015 TOI: India Business
ICICI Bank has announced the launch of ‘mortgage guarantee’ backed loans for retail customers aspiring to purchase their first homes in the affordable housing segment. Christened ‘ICICI Bank Extraa Home Loans’, it allows a borrower to enhance the loan amount by up to 20% and also provides the option to extend the repayment period up to 67 years of age.
Also found in: [+]
'Affordable' shared ownership flat in Hackney on the market for £1m 24.8.2015 The Guardian -- Front Page

Price of home means anyone with a household income of less than £77,000 is unlikely to get a mortgage

A shared ownership flat valued at more than £1m has gone on sale in east London, in another sign of London’s growing affordability problem for would-be homebuyers.

Shared ownership, offered through housing associations, is designed to help people on low incomes get on the housing ladder by offering them the chance to buy a stake in a property which they can increase over time. The buyer also has to pay rent on the remainder of the property that is not mortgaged.

Continue reading...
Also found in: [+]
Rajan is right: Salaried class can't afford a house 22.8.2015 Rediff: Business
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Also found in: [+]
No room to reduce housing prices: CREDAI 21.8.2015 TOI: India Business
A day after RBI governor Raghuram Rajan advised builders stuck with unsold inventories to cut rates, realtors' body CREDAI on Friday said there is no scope to reduce housing prices and demanded that interest rates on home loans as well as taxes should be reduced to boost demand.
Also found in: [+]
Real estate developers must lower prices: Rajan 21.8.2015 TOI: Home
Reserve Bank of India governor Raghuram Rajan on Thursday said that real estate prices need to come down in order to ease lending norms for home loans.
Also found in: [+]
Case for teaser loans 21.8.2015 Telegraph: Business
The State Bank of India (SBI) today sought RBI's permission to re-introduce teaser loans to push demand and revive the economy.
Also found in: [+]
1 to 20 of 5,892