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Santander set to launch lifetime mortgages for interest-only borrowers
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These new products would allow customers to continue to pay off just the interest on their debts until they die, when the bank would recoup the outstanding amount by selling the property.
 
UK lenders cut back on new mortgages as housing market slows
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By David Milliken LONDON (Reuters) - British lenders approved the fewest mortgages in more than a year last month, adding to signs that previously rapid growth in Britain's housing market and the broader economy is slowing. The Bank of England said on Wednesday that mortgage approvals for house purchase fell to 61,267 in September from 64,054 in August -- a bigger drop than economists had ...
 
Finance ministry consults on residential mortgages, will review buy-to-let in 2015
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Britain's finance ministry launched a consultation on Thursday about new powers requested by the Bank of England to regulate residential mortgages, but said discussion of similar curbs on buy-to-let mortgages would have to wait until 2015. "The government is proposing that the Bank is granted powers of direction for loan to value limits and debt to income limits for owner-occupied mortgages ...
 
Family inheritance under threat from lifetime mortgages
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Every year, half of those reaching the end of their interest-only home loan find they are unable to pay off their debt and could forfeit their children's inheritance in a bid to avoid repossession.
 
Take your mortgage to the grave, older borrowers told
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Banks will move some interest-only borrowers to 'lifetime mortgages' that they will never repay, as hundreds of thousands face a shortfall
 
Fannie, Freddie to accept lower down payment mortgages
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Fannie Mae and Freddie Mac are close to allowing consumers to buy a home with as little as a 3 percent down payment and still have the mortgages backed by the two agencies.
 
Negotiations with Richmond on seizing underwater mortgages postponed
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by Joshua Sabatini Supervisors have acknowledged that San Francisco homeowners at risk of losing their homes to banks deserve help, but an agreement on how best to assist them has been put on hold. San Francisco was poised to become the first city to partner with nearby Richmond to launch a program that would use eminent domain to seize underwater mortgages -- which have a higher balance than ...
 
Canadians paying down mortgages at a much faster rate than reported, significantly reducing the risk of default in ...
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Canadians paying down mortgages at a much faster rate than reported, significantly reducing the risk of default in Canada's housing market: CIBC
 
30-Year Fixed Mortgage Rates Rise Slightly, But Remain Below 4% for Fourth Week in a Row; Current Rate is 3.85 ...
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SEATTLE -- The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 3.85 percent, up four basis points from this time last week. The 30-year fixed mortgage rate hovered around 3.90 percent for ...
 
Mortgages until death plan mooted
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Home owners could be offered mortgages that last until death as a way of defusing Britain's interest-only mortgage time bomb.