100,000 may default on mortgages
UKAR, the state-backed lender that took on Bradford & Bingley and Northern Rock mortgages, has confirmed it has more than 100,000 customers with no credible plan to repay interest-only home loans. The controversial loans, where customers simply pay interests costs rather than capital, account for 60% of their 600,000 borrowers loans. Two-thirds of those with […]
Buy-to-let lending on the up
Buy-to-let lending has seen a 40% increase in the first half of 2012 compared to 2011, figures from Blemain Finance show. Investment has gradually increased in the last six months for buy-to-let second charge cases, showing landlords are still happy to invest in the market. The news comes as strict mortgage criteria and house prices […]