Nottingham Letting Agent Property Blog

Latest figures show mortgage approvals have fallen for two consecutive months to reach their lowest level in seven months. In February mortgage approvals fell by 11% to reach 49,019 from 54,719 in January. It's thought this decline is due to a fall in borrower demand, as thanks to the government's Funding for Lending scheme mortgage availability has increased, and there are more cheaper mortgages on offer. It could be that people are putting off buying a home due to the increased cost of living and continued uncertainty over the economy, and it looks as if buyers are choosing to pay down...

According to the latest data from the Mortgage Advice Bureau, mortgage applications are gradually returning to levels seen before the financial crisis. The number of applications rose by 22% during last month as lenders increased mortgage availability and reduced rates.Applications are now 31% higher than at the beginning of 2012, but last month in particular saw a surge in numbers, especially for re-mortgages. Activity levels are now at their highest since just before the financial crisis. Although the increases partially seasonal, it may be that the governments Funding for Lending scheme is starting to have an effect. At the moment the...

An article in Property Wire has reported that average mortgage application fees have increased by 20% during the past three years, and buyers are urged to look beyond advertised interest rates in order to find the best deal. Researchers have pointed out that lower rates don't necessarily indicate a better product, and the borrowers should check application fees to ensure they don't end up paying more than is necessary.However this might be easier said than done, as Moneysupermarket has found it's now more difficult for borrowers to do a price comparison of mortgage products than just a few years ago. A...