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Mortgage News for Saturday - March 6, 2004

More Mortgage News
• CFO: Metropolitan Mortgage restructuring in jeopardy
• Markets Hold as Low-Interest Outlook Counter Jobs Report
• First-time homebuyers priced out in eight of 10 towns
• 'Puppies' team up to purchase homes
• AMP back in game, and Big Mac holds fire
• Retail Sales in Norfolk, Va., Area Break $10 Billion in Record-Setting 2003
• Right of rescission allows you to back out of a loan
• Be careful with home equity debt
• Appraisals help lender, but you pay for it
• NEW HOME BUYERS PRICED OUT
• Get a new home with no downpayment-PPEP meeting Wednesday
• City's home expo opens doors to public
• A hike in interest rates could pop housing market bubble
• Help for Vermont Home Buyers
• Hall of Shame inductee: Gregory Hiatt, Millennium Mortgage
• State orders local mortgage company to cease doing business
• Many indicate overlooking a deduction is their top tax worry
• Why Bad Credit People Pay Higher Rates
• WEST HOMES BEYOND AFFORDABLE
• Mortgage Broker Charcol unveils two-year discount
• West Roxbury two-family could help pay buyer's mortgage
• Mortgage Lending Division already showing its muscle
Mortgage News
WEST HOMES BEYOND AFFORDABLE - 2004-03-06
First-time buyers have virtually no possibility of getting on to the property ladder anywhere in the West, a survey suggests today. Britain's largest mortgage lender Halifax found new buyers were being priced out of the market in 80 per cent of UK towns.

The Halifax classes a region as unaffordable if first-time purchasers would have to borrow more than 4.27 times the local average salary to buy a £112,500 home.
Read the full story at Bristol Evening Post
 
Mortgage Broker Charcol unveils two-year discount - 2004-03-06
Charcol, an independent and mortgage adviser, is providing borrowers an exclusive, two-year discount, which it claims is the lowest such deal on the market.

The current rate of 3.69 per cent will run until 31 March, 2006 and is open to both purchasers and those remortgaging. Available up to 85 per cent loan to value, it allows borrowers to overpay up to 10 per cent a year penalty free.
Read the full story at The Scotsman
 






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