Fair Housing Act changed history, but barriers remain

They Mayor of Columbia Missouri is heading a conference on real estate that focuses on Fair Housing. The conference will look at the impacts of the Fair Housing Act on the city, which became law in 1968. Historically, housing could be difficult to obtain for minority groups. Significant advances have been made through the FHA, […]

Labour urges rethink on mortgage benefits

There are approximately 90,000 people that claim support for mortgage interest (SMI), but the government will begin replacing these benefits with government loans. Although these SMI loans would not have to be paid back until the property is sold or transferred, Labour suggests that this switch to loans would cause hardship for certain demographics. Specifically, […]

UK mortgage lending rises ahead of possible rate rise

With interest rates expected to rise in the UK later this year, mortgage lending saw an increase year over year in February. Despite the increase, lending was still lower than levels seen in 2017. Remortgage approvals rose as did credit card spending as borrowers look for attractive deals. Nonetheless, home purchase demand and new buyer […]

Calls for pause on change to mortgage payments help as thousands reject loans

The changes to current support for mortgage interest (SMI) will likely cause hardship for low income earners. Under the current system, homeowners are eligible for government interest subsidies for home mortgages. Under the new state-backed loan systems, homeowners’ that have previously received interest subsidies will need pay back the interest subsidies. The longer the homeowner […]

Land Registry records first digital mortgage

A house in south-east London has been re-mortgaged without the borrower having to sign on the dotted line. Instead of pen and paper, an electronic signature was provided digitally. This is the first time a property transfer was made without having witnesses to the signing. The hope is that automating these transactions will be more […]

Barclays Green Home Mortgage to launch next week

The UK wants to encourage more homebuyers to go green. Starting from next week, Barclays will be offering lower interest rates for homebuyers who purchase new build homes that meet their energy efficiency rating qualifications and are built by one of the five pre-selected companies. Not only is the discount enticing, but Barclays is also […]

Alexa can now help borrowers find a mortgage

The AI has already knocked on the mortgage door. Due to recent advancement in AI technology, the mortgage industry has not been left out to benefit from it. The UK based mortgage technology company Mortgage Brain, has brought a tool that can be integrated into Amazon’s Alexa which can help the users find suitable mortgage. […]

IMLA predicts 2018-19 growth in mortgage lending

For a variety of potential reasons, the Intermediary Mortgage Lenders Association (IMLA) has predicted that there will be a rise in mortgage lending in 2018 and 2019. The growth in mortgage lending so far in 2018 has so far occurred despite the uncertainty arising from Brexit. Some of these reasons why gross mortgage lending may […]

IMLA: Lending set to rise for eighth straight year

Mortgage lending is set to rise again in 2018, marking theeighth consecutive year of rising lending. Gross mortgage lending is currently the highest it has been since 2007, and is forecast to reach a net value of £265 billion. The Intermediary Mortgage Lenders Association (IMLA) also describes that the homeowner demographic in the UK is […]

UK house price growth unexpectedly slows to 7-month low -Nationwide

The United Kingdom has seen a slowing of the price growth on houses over the last seven months. In March, house prices rose at the slowest pace in seven months at 2.1 percent (Reuters poll of economists had predicted that the market would grow by 2.6 percent). Additionally, if this was not already worrisome enough, […]