Woolwich in move to lift mortgages
Thursday 04 May 1995
The society's move, aimed at those who want to buy a new home but feel they cannot afford the cost of moving, came as mixed evidence emerged on house prices.
Nationwide Building Society issued figures showing house prices that rose by 0.9 per cent in April. Its monthly survey, which also showed a 1 per cent increase for March, compares with figures from the Halifax two days ago which said house prices dropped by 0.3 per cent last month following a 0.3 per cent fall in March.
The Woolwich initiative has a £200,000 cap on the house sale price and a minimum new mortgage borrowing requirement of £25,000. Borrowers will have to take out a standard variable mortgage, currently at 8.4 per cent, with the society. They will also have to sell their house through its estate agency arm, which has 220 offices throughout the country.
Nationwide said variations with the Halifax's statistics were due to the fact its own lending focuses slightly more on the south of England. Dr Paul Sanderson, head of research at Nationwide, said: "Monthly changes need to be seen in the context of underlying trends and the key point is that both indices are saying the same thing - the trend is flat with continuing weaknesses in activity."
- 1 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 One Direction: Louis Tomlinson launching his own record label, has already 'signed two acts'
Isis video purports to show beheadings and execution at gunpoint of 30 Ethiopian Christians and destruction of churches in Libya
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Driving while dehydrated can be just as dangerous as drink driving, study suggests
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...