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August 2007

Date Title
 
15/08/07     LENDERS URGED TO INTRODUCE REGULAR REVIEW FOR INTEREST ONLY BORROWERS TO AVERT FINANCIAL DISASTER AT RETIREMENT, SAYS MONEYNET.CO.UK
  • How to avoid the interest only time bomb
  • Regular dialogues to aid borrowers with no known repayment vehicle
INTEREST ONLY mortgages could present a ticking time bomb for many – but financial data comparison site Moneynet.co.uk suggests it is possible to defuse it if lenders introduce a regular review – at least every three years - with borrowers who lack any repayment provision.

Press Release 15 August 2007
06/08/07     SUB-PRIME MARKET TIPPING MORTGAGE REPOSSESSION FIGURES, SAYS MONEYNET.CO.UK – BUT NO SIGN OF A RETURN TO DARK DAYS OF THE EARLY NINETIES

REPOSSESSIONS are up year on year, but the latest data from the Council of Mortgage Lenders (CML) showing a 30 per cent rise on home repossessions in the first half of 2007 is not a forewarning of imminent property market recession, according to Moneynet.co.uk.

The rising number of repossessions almost certainly correlates to the succession of Bank of England base rate rises, but many of the casualties are within the so-called sub-prime mortgage sector, argues the online personal finance data analyst.

Press Release 15 August 2007


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Richard Brown, Chief Executive: 0208 313 9030

David Andrews/Cathy Tully, David Andrews Media Ltd: 07941 255855 / 01273 774109 / 07747196854

Consumer enquiries: 0208 460 2833 / www.moneynet.co.uk

Moneynet.co.uk is the UK's longest established online personal finance research and data analyst company. The company offers consumers a choice of thousands of low cost financial services products. From mortgages, personal loans to motor, home and medical insurance, credit cards, savings accounts and best buy fixed rate products, Moneynet is one of the most comprehensive online services of its kind in the UK. Founded by chief executive Richard Brown, the Moneynet brand is destined to become one of the UK's major players in consumer finance products.

A DAVID ANDREWS MEDIA LTD
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