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Northern Rock starts from mortgages

July 20, 2009 | Written by admin | Under Loans , Mortgages Advertising , Sites for Mortgages , home mortgage

The market for mortgages is in crisis. To try to re-launch in the UK nationalized Northern Rock, the bank will grant loans again, for a total of 14 billion pounds. The amount of the loans will be 5 billion pounds by 2009 and 9 billion pounds by 2010.

This decision will then fill that void that was created by the mortgage crisis.

The loans to be granted, however, will not be equal to or greater than 100% of the value of the subject of mortgage itself, but up to a maximum of 90%. The aim is clearly to make sure that different people can afford to buy a house.

In the UK house prices fell by 20% in 2008 and is expected to further decrease the same for 2009.

Author: ildavyde

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Euribor rates and mortgage payments

July 15, 2009 | Written by admin | Under Loans , Mortgages Advertising , Sites for Mortgages

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On Friday, February 13 Euribor rate reached its minimum value, reaching 1.94% share. The amount of the mortgage rate is not decreased, in some cases has even increased. Why?

The reason is the system that is used to calculate the 'Euribor . It 'a fairly complex mechanism, which essentially creates a delay of several months on the actual calculation of the index. The rate of adjustable rate mortgages are calculated on the fact that the Euribor values were achieved during this past fall.

Therefore, if the banks were based on EURIBOR rates last December, the rate was 2.93%.
As if it were based on the average of the last 6 months, the rate would rise to 4.63%.

That's because the Euribor rate falls, but not the installment of the loan .