Archive for December, 2011

First Time Homebuyers Seek Affordable Housing in Falling Market

Posted in Mortgages & Property on Wednesday, December 28th, 2011 at 10:59 by Martyn Shaw.

Even though housing prices have continued to decline, 2011 marked a record low in first-time home purchases.  Fewer than 200,000 new buyers purchased a house during the past twelve months; this is the lowest annual number since data on the issue was first compiled, beginning in the mid-1970s. The decline in new mortgages issued also [...]

FSA Revises Plans to Limit Mortgage Availability

Posted in Debt, Mortgages & Property on Tuesday, December 20th, 2011 at 12:02 by Martyn Shaw.

In a move welcomed by many homeowners and prospective home buyers in the UK, the Financial Services Authority has backed away from proposed requirements that many feared would negatively impact the ability of many Britons to obtain mortgages.  The FSA’s plans as originally proposed could have eliminated interest-only mortgages completely and would also have made [...]