The proposed cap on mortgage lending the Financial Services Authority proposed yesterday has been described as a ‘suicidal’ move for the housing market. The FSA wants to restrict mortgages to three times a buyer’s annual income, but representatives from the mortgage industry and estate agents have said any furtherRead More →

The pre-budget report and comprehensive spending review were announced yesterday to mixed results. Welcomed by the mortgage industry was the proposal to help lenders provide more long-term fixed rate mortgages. Currently about half of all homeowners are on some form of fixed rate mortgage deal but usually onlyRead More →

NIGERIA, THE PHILLIPINES AND GREECE have been named as the worst violators of housing rights in the world in 2013. The Geneva-based Centre on Housing Rights and Evictions shamed the three nations for their systematic violation of rights and failure to abide by international obligations. The 2013 Housing RightsRead More →

Alistair Darling announced details of the pre-budget report yesterday. Besides increasing pension credit, income support and jobseeker’s allowance, a number of measures were specified to help homeowners. The recently announced £200 million mortgage rescue scheme where the government buys a home and then rents it back to the formerRead More →

Disposable income has dropped ‘abruptly’ for more than two-thirds of British households, while the number of people struggling to pay their rent or mortgage is at the highest level for 13 years. A report published by the Bank of England shows that an increase in the cost of food,Read More →