There was disappointing news this week when Prudential announced their withdrawal from the equity release market from early 2010.

The slide of interest rates to historically low levels has seen more than 8 million pensioners’ monthly income fall by nearly 25% over the last 12 months, according to figures from SHIP (Safe Home Income Plans), the equity release trade body.

SHIP’s figures show that, in April 2008, the average pensioner received £158 per month from their savings. This was in addition to their pension and accounted for 28.62% of their total income.

Protecting tenants when a lender re-possesses a property.

Tenants to gain protection on re-possession.

Tenants in properties let by financially unstable landlords could be given greater protection if their homes are repossessed under proposals published today.

Day Cooper Adams leaves hundreds facing losses

It was only a matter of time before one these compensation firms went under owing money to clients.

Apart from the fact that using them gives little advantage to the claimant it means that the claimant who has a legitimate claim ends up not being fully compensated die to their fees.
This firm took fees up front and apparently FOS paid compensation to this firm which was never passed on.

This where FOS and FSA have dropped the ball.
NO IFA can can handle client money without some very strict regulations and protections in place.

Surveyors report market momentum

Interest from home-buyers is starting to gain "real momentum", although sales remain low, UK surveyors say.
New enquiries in the housing market increased for the fifth consecutive month, the Royal Institution of Chartered Surveyors (RICS) poll found.

 It is clear however that the market is difficult for both buyers in obtaining mortgages and for sellers with transactions still at a very low level.

You can read the full report on the BBC web site Link below.

There are some signs that Banks are relaxing their criteria and lending again. Full report in the FT .

 

Finding the best Mortgage deal

We would recommend that you seek out a a professional Independent Mortgage Broker. There is no cost or any obligation by requesting advice from a professional FSA registered mortgage broker.

Sale-and-rent back companies are targeting those struggling to the meet the cost of living in their homes.

Firms offer to purchase homes at below market value and rent them back to the former owners. The majority of no guarantee beyond six or 12-month tenancies, leaving the former owner at risk of being evicted at the end of the tenancy.

Mortgage Information

We have a simple no obligation form which will enable you to obtain a quote from an FSA authorised Mortgag