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Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

House prices `may fall 35 percent over 3 years`

04/01/2008

House prices could fall by as much as 35 per cent over the next three years, an industry expert has predicted.

As the housing market slows, those looking for mortgages may like to know that, according to Firstrung, prices may fall by 12 per cent during 2008.

Chief executive of Firstrung Paul Holmes stated that despite a marked drop in the prices of homes across the UK, first-time buyers and those with bad credit may still not be able to get on to the housing ladder due to the "credit crunch mess".

He added: "We`re now reverting back to the lending standards that the banks and building societies operated within in the 1980s. It`s become that bad. We`ve reverted back to that situation in six months."

Last month, a study by Halifax found that houses in 96 per cent of British towns are unaffordable to first-time buyers.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according