Fannie Mae and Freddie Mac - Which Way Will the Wind Blow

Posted by William on September 12th, 2008 in Mortgage Advice

World markets have responded positively in the main to the news that US has effectively nationalised the two mortgage giants known as Fannie Mae and Freddie Mac. On Sunday the Secretary of the US Treasury Henry Paulson announced the takeover of these two huge American Institutions or GSE’s as they are known - meaning ‘Government Sponsored Enterprises’, a curious mix of both state and privately owned entities. Continue reading this post…

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Sub-prime Mortgages - Current News & Cautions

Posted by William on October 5th, 2007 in Mortgage Advice

Current News!

Most of you will be aware of current problems in the banking sector, especially with the recent publicity surrounding Northern Rock. Although in many ways Northern Rock’s difficulties were unique to that particular lender there can be little doubt that it was also related to a lack of confidence in the lending sector as a whole.

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First Time Buyer Mortgages Harder by 350%

Posted by William on September 6th, 2007 in Mortgage Advice

A brand-new Royal Institute of Chartered Surveyors accessibility index report published in August 2007 reveals that the cost of purchasing a home in the UK has become substantially more difficult by 350% since 1996. First-time buyers both on lower quartile earnings (£26 667) now need to find approximately £25,600 to pay for a deposit, stamp duty and various purchase costs for even a standard starting home. For a couple buying for the first time this equates to a massive 96% of their joint take-home incomes.

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