Lloyds Fail With PPI Claims.
Lloyds Fail With PPI Claims.
Payment Protection Insurance (PPI) policies were meant to protect borrowers against sickness or redundancy but were often sold to customers who did not want or need them.
The scale of Payment Protection Insurance (PPI) mis-selling is now of pandemic proportions. Read more
Lloyds New Pledge to Help First Time Buyers.
Lloyds New Pledge to Help First Time Time Buyers.
In recent weeks mortgage providers have released new products on to the market and they have also slashed rates for those with smaller deposits.
It therefore seems then that first time buyers are now been given a much needed boost. Especially as recently one of Britain’s biggest mortgage lenders, Lloyds banking group, has pledged to lend first time buyers £6.5 billion by the end of 2013 in order to help them get on to the property ladder. Read more
‘Newbuy’ Applications from the Halifax Hit a High!
‘Newbuy’ Applications from the Halifax Hit a High!
The ‘NewBuy’ scheme allows potential buyers to buy a home with a lower deposit than they would normally need. Meaning that they may be able to buy sooner than they thought, without having to save for a long time to build up the deposit that some lenders would otherwise expect. Deposits especially for first time buyers can be as much as 25 per cent.
Initially when the NewBuy scheme was set the government pledged that it would provide some 100,000 new homes. However, in October the Home Buliders Federation (HBF) admitted that only a quarter of this amount will be provided. Read more
Halifax Offer £500 Incentive to new Mortgage Customers
Halifax offer £500 incentive to new mortgage customers.
In light of the current ‘mortgage war’ and today’s financial climate many of the nation’s biggest lenders have begun to offer different incentives in order to lure new customers to their products. It seems that Halifax Intermediaries are no exception.
They are offering borrowers who take out selected NewBuy, new build and shared equity products through them £500 towards the cost of moving home between August 31st and October 22nd this year. Read more
Young Home Owners in 2012
With the Bank of England’s base rate at an historical low of 0.5% for the last 3 years many young home owners it seem have taken advantage of this.
A study from the Halifax recently found that in January 2012 mortgage payments had reached there most affordable level in 14 years. Read more
House Price Index Part Two
As discussed in part one house price surveys take data from different times in the house buying process and have different parameters, therefore house prices rise and fall often in the same month, but this depends on which property you read.
Many experts feel that the best index is the one that has the biggest sample size. Read more
The Co-operative Bank to Buy out Lloyds Branches
It seems that the Co-operative bank is to purchase 632 Lloyds branches, with a bid thought to be worth around £1 million.
Lloyds TSB, the state rescued bank which is 41% owned by the government, is being forced to sell some of its branches under European Union competition rules. These rules ensure that competition with in the EU is not restricted or distorted. Read more
Halifax and Experian to Help First Time Buyers
The National Association of Estate Agents (NAEA) have stated that just 16% of total sales in October 2011 were to first time buyers, this figure is down from 22% in September 2011. This is the biggest drop since December 2008.
With rising rental costs, strict lending criteria and high deposit demands it is nearly impossible for the average first time buyer to enter the housing market. Read more
The Halifax £500 Million Payout
Lloyds banking group has set aside £500 million to voluntarily redress an estimated 300,000 Halifax customers who were potentially confused by its standard variable rate (SVR) cap. Read more
Lloyds Cutting Deep
The Lloyds TSB Banking Group are cutting yet more jobs. In early August the Group decided to axe 40 staff in their Wales region.