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• Hong Leong Bank Aims For 10 Pct Growth In Housing Loans
• ANZ National Raises Home Loan Rate on Credit Costs, Herald Says
• January’s figures ended the seven month slump in home loan approvals, says the Bank of England…
• Mortgage loans for business and home purposes
• Got a home loan? Take care of property papers
• Loans become an issue as personal savings grows in importance
• Home loan holders express election jitters
• Home loans in Spain from Leeds & Holbeck
• Australia’s Nov. Personal Loan Commitments Down 0.3% On Month
• LOANS ARE AVAILABLE’: Avante offers incentives at Denali

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The Association of British Drivers is reminding voters that many of them are paying more in fuel taxes than they are for their council tax. They have produced a mileage calculator which drivers can test out on the ABD website to find out how much they pay directly into the Treasury’s coffers each month. The ABD estimates that the average driver travelling 12,000 miles per year in a car achieving 30 MPG will pay around £120 per month in direct fuel taxation.

However, as many families have two cars the tax for them is simply doubled, creating a figure way above the average monthly council tax bill.”Everything we buy and all services we use involve road travel and the cost of all goods and services are affected greatly by the extortionate rates of fuel duty,” explained ABD’s chairman Brian Gregory. He continued: “80 per cent of the purchase price of all fuel goes to the treasury.”ABD spokesman Nigel Humphries, added: “Even those who don’t drive are indirectly parting with huge amounts of money through this stealth tax, yet many probably don’t realise it.” Mr Humphries concluded: “It would not be so bad but of approximately 42 billion taken by the government in road tax each year, only around 6 billion gets reinvested in our crumbling transport system.”

Tenant horror stories only account for a very small section of the buy-to-let market, says a new report. In the majority of situations things like overflowing bath tubs, persistent complaints from the neighbours about noise and general damage are not an issue.New figures from the National Landlords Association (NLA) show that these problems are few and far between.”Out of around just over two million private tenancies in the country as a whole, we calculate that the number that encounter major problems represents a very small percentage, of less than five per cent,” commented NLA’s chairman David Salusbury.”Even so, with such a large number of private rentals in this country, this still accounts for a significant number of problem tenancies in absolute terms.”However, Mr Salusbury added that he did not want to “under-play the problems that can arise”. He explained that over a third of NLA landlords had to resort to the courts to evict a tenant. But, he added, these are not an “everyday occurrence”. Its survey discovered that communication and respect from both parties are the key factors to bear in mind at all times.”A lot of it comes down to working effectively with tenants, to understand their concerns and take steps to address them,” concluded Mr Salusbury.

Chancellor Gordon Brown has announced the availability of more than 700 government-owned sites that will offer more affordable housing to first-time buyers. The houses will cost only £60,000 to construct and will sell at between 50 and 75 per cent of the price of homes on the open market, making it easier for first time buyers to get mortgages on a property.

Thanks to the scheme, first-time buyers would be able to save more than £370 a month on payments for a £200,000 house, as the rest of the equity in the property would be shared between the government and the bank or building society. Gordon Brown said: “We are determined to build on the one million more home owners since 1997 to reach two million by 2010.”

The head an online property company has criticised Gordon Brown’s new first time buyer plans saying more still needs to be done. The chief executive of SmartNewHomes., David Bexon, believes the government’s plans to loan money to young buyers could cause serious problems. The Chancellor announced at the beginning of the week that the new scheme would help more buyers take that difficult first step onto the property ladder.

“The Government has pandered to a needy group with its latest initiative to help the struggling first time buyers,” Mr Bexon commented.” However this scheme could very well turn out to be a wolf in sheep’s clothing for many homebuyers.” Mr Bexon continued: “The government could do much more for homebuyers struggling to get on and move up the property ladder by acknowledging the basic economic model of supply and demand: if demand outstrips supply then prices will be pushed higher and that is a pattern we have seen in the UK over the last few years. “He concluded: “The simple solution, as set out in Kate Barker’s government-commissioned report, is to increase supply to match the demand.

With new rules governing the provision of financial advice coming into force today, a consumer organisation is praising the changes. The Financial Services Authority’s new regulations mean that providers will now be required to make it easier for consumers to compare different companies’ services.

They also guarantee consumers clear and up-front information about their credit and loan agreements. The deputy director of policy at the National Consumer Council, Claire Whyley commented: “Lenders must now make sure they don’t pull the wool over people’s eyes from start to finish of a credit deal.” She feels the new rules have come at just the right time: “With debt now affecting a wider spectrum of people - including the better off - and personal bankruptcy figures on the increase, these new obligations on lenders are extremely welcome.”

However, the NCC, which looks to help consumers and ensure they get a fair deal, feels the government must take more decisive action. Ms Whyley added: “Important further reforms to our outdated credit laws - a consumer friendly credit complaints system, for instance - now depend on the Consumer Credit Bill making its way undiluted onto the statute book.

There has been some deterioration in the asset quality of retail loans in India in recent times because of increasing exposure to higher risk customers and rising interest rates, according to a study by CRISIL Ratings. The gross non-performing assets in retail loans, which increased to about 2.7 per cent as of March 2007 from about 1.7 per cent as of March 2005, are likely to rise to 4 per cent over the next two years. However, the situation will remain manageable because secured loans such as mortgage and vehicle loans account for 80 per cent of lenders’ retail loan portfolio.

The increasing exposure to higher risk customers is mainly through personal loans and credit card receivables. These are unsecured and accounted for 17 per cent of total outstanding retail loans in March 2007, up from 6 per cent in 2004, the study pointed out. According to CRISIL’s managing director and chief executive officer, Roopa Kudva, “as competition has increased, players in retail lending, in their quest for growth and improvement in profitability, are reaching out to hitherto untapped clients, such as the self-employed and borrowers from smaller cities.

This has increased lenders’ exposure to risk.” While expecting this trend to continue, CRISIL believes that a reasonable definition of ‘sub-prime’ in the Indian context could include small-ticket personal loans that are given to low-income customers, and a portion of credit card receivables.

Personal loans for bad credit borrowers are available with and without residential property security clause. These loans offer dual opportunity to meet the current monetary requirements and improve credit rating. Bad credit history is the result of arrears on payment, defaults, insolvency, county court judgments, individual voluntary arrangements and bankruptcy. Earlier bad credit borrowers were not even considered for a loan due to lack of credit worthiness.

However, with changing scenario and keen competition in the UK financial market, lenders are willing to tap the opportunity of increased number of bad credit borrowers. According to estimates, Six out of ten people in the UK suffer from bad credit problems. To trap this vast untapped market lenders are now offering lucrative loan plans. The UK financial market now offers loans to bad credit borrowers with and without residential property security tag. The nature of the loan plan varies according to the presence or absence of security.

HSBC’s Islamic finance division, HSBC Amanah has added residential leasehold flats to their list of product-linked properties. These will now qualify for Amanah home finance making it easier for Muslims to finance their homes while remaining within the Islamic law of Shariah. This decrees that Muslims must not be linked with any financial service that makes interest. Therefore, to comply with the law the account has no overdraft, debit or credit interest. The minimum balance on the Shariah current account has also been reduced to £250 for both new and existing customers.

The UK head of HSBC Amanah, Amjid Ali said: “Purchasing a leasehold property using a Shariah compliant home purchase scheme is more complicated than using a conventional mortgage. “The bank is effectively sub-letting the property to the customer, which requires permission from the leaseholder prior to completion,” he explained. However, Mr Ali continued: “HSBC Amanah has the expertise to overcome such complexities and works closely with an independent Shariah supervisory committee of world renowned scholars to ensure our products adhere to Shariah law.”

A Government commissioned survey has revealed that people do not care about their levels of debt. It found the vast majority of people in the Britain do not consider their loan repayments to be a problem, despite increasing borrowing in recent years. Those in their 20s and 30s with children, who are living in rented accommodation and earn less than £9,500 a year, are the people who are most likely in debt and Leaving mortgage holders and other property owners more at risk.

Of those surveyed nine per cent spend more than half of their income on total credit repayments, while eight per cent spend more than a quarter of their income on unsecured credit repayments.” Over-indebtedness can cause huge problems for individuals,” commented the consumer minister Gerry Sutcliffe. However Mr Sutcliffe added: “It is encouraging to see that, despite an increase in consumer borrowing, the percentage of those who find their debts unmanageable is still relatively small.” Nevertheless he continued: “We must not be complacent in tackling over-indebtedness.”

Skipton Building Society has announced the introduction of new fixed rate mortgages with lower, reduced rates. The new range includes a two, three and five-year fixed rate mortgage with rates starting at 4.69 per cent. Skipton, the UK’s seventh largest building society, has set the two-year rate at 4.69 per cent until September 30th 2007, while the three-year is fixed at 5.14 per cent and the five-year at 4.99 per cent. “No matter what the Bank of England’s base rate is doing, there will always be borrowers who need a fixed rate mortgage - such as first time buyers or couples with young families who have to keep a tight rein on their finances,” commented the head of media relations at Skipton Building Society, Jennifer Holloway.

At 4.69 per cent,” she added, “our new two-year fixed rate mortgage is attractively priced, as are the three-year and five-year options for borrowers who would like to freeze repayments for longer. Skipton’s new deals include free legal fees, a free valuation on all residential remortgage cases and free accident, sickness and unemployment (ASU) cover for six months. Ms Holloway finished by saying she was expecting to see “a lot of interest” in the new range.