It appears that rising interest rates have had little impact on the UK housing market as the Association of British Bankers have revealed that mortgage lending in July 2007 increased by £13. 6 billion. The figure is almost exactly in line with the preceding six-month average of £13. 7 billion and represents a slight increase on the June rise of £13. 1 billion.
The July increase is not what the organisation expected with BBA statistics director David Dooks admitting that the rise was 'surprising' following the cumulative affect of the recent interest rate rises. He added: "Steady growth in lending on UK mortgages in spite of five interest rate rises highlights the popularity of home ownership", but Dooks also pointed out that much of the total advanced figure could be down to re-mortgaging activity as homeowners seal fixed rate deals to minimise the impact of the interest rate rises.
Burberry Travel Bags Those five rises over the last year have led many homeowners currently on due-to-expire fixed rate deals to frantically compare mortgages currently available in the market in an effort to find one that will alleviate the rate increases. Homeowners with a mortgage of £100, 000 currently on fixed rate deals obtained two years ago could face a monthly increase in the region of £200 per month if they were to move to the variable standard rate; so the need to find a discounted or fixed rate remortgage is proving fairly critical for many families. That immediate need is what most experts believe are driving the current mortgage boom.
The Council of Mortgage Lending (CML) recently announced that total gross mortgage lending reached a new record for the month of July amounting to £34. 4 billion, reflecting the trend highlighted in the BBA figures. The CML readily admit that they attribute market buoyancy to the remortgage effect and don't expect autumn figures to be so high. Despite that, the CML are still predicting a record £360billion of mortgage lending for the year ended 2007. That will be due in part at least to the fact that more and more fixed-rate mortgages [http://www.moneynet.co.uk/mortgages/index.shtml] are due to revert to standard variable rate in the coming months.
However, the Royal Institute of Surveyors (RICS) has pointed out that the recent volatility in world markets, including the collapse of the sub-prime market in the USA, will lead to more expensive fixed rate deals, and that will impact on household finances. Chief economist for the organisation Simon Rubinsohn warned: "With 90% of borrowers currently opting for fixed rate deals, those who already find themselves financially stretched will be paying an even higher price for their peace of mind. "
So, Burberry Mens Bags even though mortgage lending is still at record levels it is primarily because of homeowners seeking new fixed rate remortgage deals. It appears that the interest rate rises designed to slow the economy are having the desired effect, even if it taking time to work its way through the system.
Elisha Burberry is an online, freelance journalist and keen traveller and watersports enthusiast. Originally from Scotland, she now resides in London.
Burberry Shoulder Bags Making sure that you have the correct car insurance can be a complex business because you are asked all kinds of questions and don't always know whether your answers are 'good' or 'bad'. Of course, honesty is the best policy, but it is reassuring to know what factors you will actually be judged on and whether you can do anything to improve your chances of a good quote.
Insurers may of course differ slightly in their views, based on which statistics they consult, but there are at least some guidelines. It is generally agreed that young men are the highest risk group for insurers. It doesn't take a flight of fancy to work out why - all you need to do is look around on a Friday night and spot all the young men driving too fast and showing off. Young women, in contrast, do not usually drive as far or, more controversially, as recklessly. That is why it is usually cheaper to get insurance if you are under 25 and a woman, rather than under 25 and a man. This may seem unfair if you are a sensible, young male driver, but there you are - statistics are not on your side. Young men - and women - can reduce their car insurance by taking an advanced driving course.
Older women continue to be offered 'a better deal' by certain insurance companies that target women. However, there is considerable debate about whether these quotes are better value for money than unisex rates. Is it just a triumph of marketing or a genuinely good deal based on statistics? As more women take up driving and cover greater distances for work, it seems likely that trends will change and women will no longer be considered 'safer drivers'.
Burberry Totes Bags Where you live also makes a difference - even if you don't think your 'new' area is any more or less safe than your last. Some areas simply have a higher rate of vehicle thefts, and in some cases, your premium may actually rise because it is a 'nicer' area. This is because the total value of crime in the area might be higher - because there are quality goods to vandalise/steal. If you are considering moving, it is worth checking how this will affect your car insurance. People living in rural areas generally pay less than people living in congested cities.
A cheaper car predictably costs less to insure than a status symbol motor. It is a little mean to suggest that you shouldn't buy the car of your dreams, but if you do, at least consider whether you can lock it up safely in a garage at night - with an anti-theft device attached. These precautions will help to offset the higher cost of the premium.
Understanding factors that affect your car insurance is a good way to work towards a cheaper quote, so it's not so complex after all.
Insurers may of course differ slightly in their views, based on which statistics they consult, but there are at least some guidelines. It is generally agreed that young men are the highest risk group for insurers. It doesn't take a flight of fancy to work out why - all you need to do is look around on a Friday night and spot all the young men driving too fast and showing off. Young women, in contrast, do not usually drive as far or, more controversially, as recklessly. That is why it is usually cheaper to get insurance if you are under 25 and a woman, rather than under 25 and a man. This may seem unfair if you are a sensible, young male driver, but there you are - statistics are not on your side. Young men - and women - can reduce their car insurance by taking an advanced driving course.
Older women continue to be offered 'a better deal' by certain insurance companies that target women. However, there is considerable debate about whether these quotes are better value for money than unisex rates. Is it just a triumph of marketing or a genuinely good deal based on statistics? As more women take up driving and cover greater distances for work, it seems likely that trends will change and women will no longer be considered 'safer drivers'.
Burberry Totes Bags Where you live also makes a difference - even if you don't think your 'new' area is any more or less safe than your last. Some areas simply have a higher rate of vehicle thefts, and in some cases, your premium may actually rise because it is a 'nicer' area. This is because the total value of crime in the area might be higher - because there are quality goods to vandalise/steal. If you are considering moving, it is worth checking how this will affect your car insurance. People living in rural areas generally pay less than people living in congested cities.
A cheaper car predictably costs less to insure than a status symbol motor. It is a little mean to suggest that you shouldn't buy the car of your dreams, but if you do, at least consider whether you can lock it up safely in a garage at night - with an anti-theft device attached. These precautions will help to offset the higher cost of the premium.
Understanding factors that affect your car insurance is a good way to work towards a cheaper quote, so it's not so complex after all.
Burberry Exotic Bags Making sure that you have the correct car insurance can be a complex business because you are asked all kinds of questions and don't always know whether your answers are 'good' or 'bad'. Of course, honesty is the best policy, but it is reassuring to know what factors you will actually be judged on and whether you can do anything to improve your chances of a good quote.
Insurers may of course differ slightly in their views, based on which statistics they consult, but there are at least some guidelines. It is generally agreed that young men are the highest risk group for insurers. It doesn't take a flight of fancy to work out why - all you need to do is look around on a Friday night and spot all the young men driving too fast and showing off. Young women, in contrast, do not usually drive as far or, more controversially, as recklessly. That is why it is usually cheaper to get insurance if you are under 25 and a woman, rather than under 25 and a man. This may seem unfair if you are a sensible, young male driver, but there you are - statistics are not on your side. Young men - and women - can reduce their car insurance by taking an advanced driving course.
Older women continue to be offered 'a better deal' by certain insurance companies that target women. However, there is considerable debate about whether these quotes are better value for money than unisex rates. Is it just a triumph of marketing or a genuinely good deal based on statistics? As more women take up driving and cover greater distances for work, it seems likely that trends will change and women will no longer be considered 'safer drivers'.
Burberry Leather Bags Where you live also makes a difference - even if you don't think your 'new' area is any more or less safe than your last. Some areas simply have a higher rate of vehicle thefts, and in some cases, your premium may actually rise because it is a 'nicer' area. This is because the total value of crime in the area might be higher - because there are quality goods to vandalise/steal. If you are considering moving, it is worth checking how this will affect your car insurance. People living in rural areas generally pay less than people living in congested cities.
A cheaper car predictably costs less to insure than a status symbol motor. It is a little mean to suggest that you shouldn't buy the car of your dreams, but if you do, at least consider whether you can lock it up safely in a garage at night - with an anti-theft device attached. These precautions will help to offset the higher cost of the premium.
Understanding factors that affect your car insurance is a good way to work towards a cheaper quote, so it's not so complex after all.
Insurers may of course differ slightly in their views, based on which statistics they consult, but there are at least some guidelines. It is generally agreed that young men are the highest risk group for insurers. It doesn't take a flight of fancy to work out why - all you need to do is look around on a Friday night and spot all the young men driving too fast and showing off. Young women, in contrast, do not usually drive as far or, more controversially, as recklessly. That is why it is usually cheaper to get insurance if you are under 25 and a woman, rather than under 25 and a man. This may seem unfair if you are a sensible, young male driver, but there you are - statistics are not on your side. Young men - and women - can reduce their car insurance by taking an advanced driving course.
Older women continue to be offered 'a better deal' by certain insurance companies that target women. However, there is considerable debate about whether these quotes are better value for money than unisex rates. Is it just a triumph of marketing or a genuinely good deal based on statistics? As more women take up driving and cover greater distances for work, it seems likely that trends will change and women will no longer be considered 'safer drivers'.
Burberry Leather Bags Where you live also makes a difference - even if you don't think your 'new' area is any more or less safe than your last. Some areas simply have a higher rate of vehicle thefts, and in some cases, your premium may actually rise because it is a 'nicer' area. This is because the total value of crime in the area might be higher - because there are quality goods to vandalise/steal. If you are considering moving, it is worth checking how this will affect your car insurance. People living in rural areas generally pay less than people living in congested cities.
A cheaper car predictably costs less to insure than a status symbol motor. It is a little mean to suggest that you shouldn't buy the car of your dreams, but if you do, at least consider whether you can lock it up safely in a garage at night - with an anti-theft device attached. These precautions will help to offset the higher cost of the premium.
Understanding factors that affect your car insurance is a good way to work towards a cheaper quote, so it's not so complex after all.