|
|
| Industry News |
|
| News » Employment Law » High loan-to-value mortgages 'disappearing' |
|
13/01/2009
High loan-to-value mortgages 'disappearing' |
|
A spokesperson for the Council of Mortgage Lenders (CML) states that one of the consequences of lenders tightening their criteria is the removal of high loan-to-value deals.
Sue Anderson, head of member and external relations at CML, says that lenders have "narrowed down" the lending options available to buyers and made it necessary for first timers to save up a sizeable deposit.
Ms Anderson believes that this is "no bad thing" as it helps protect lenders and homeowners against "further house price falls".
However, she adds that it does means many buyers have to "wait a bit longer before they can access mortgage finance if they haven't already got substantial savings accumulated".
Earlier this month, Nationwide revealed that house prices fell by 2.5 per cent in December 2008 - compared to just 0.4 per cent in November - bringing the value of the average home down to £153,048. |
| |
| Related Articles |
12/03/2010
Stonemason companies urged to adhere to personal injury employment law
Stonework companies in the London area have been urged to ensure they have appropriate health and safety measures in place to prevent personal injury in the workplace.
|
12/03/2010
Tribunal makes ruling on holiday leave pay
An employment tribunal has made a ruling which experts believe could open the floodgates for more claims from employees.
|
11/03/2010
Police female recruitment drive 'is discriminating against men'
A police drive to recruit more women could have a discriminatory effect on men, it has been claimed.
|
10/03/2010
Pensions 'are the most important employee benefit'
Providing a good pension for employees is the most important benefit that can be offered apart from salary, new research has found.
|
09/03/2010
Employers 'should change the law on toilet breaks'
A change in the law is needed in order to make toilet breaks a compulsory part of the working day, it has been argued.
|
|
News Archive |
|
|
|
|
