Mortgage News

Commenting on HSBC's headline grabbing 4.99 per cent mortgage offer, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "HSBC has continually looked to grab the headlines throughout the turbulence in the mortgage markets.

July is set to be a painful month for homeowners with cheap fixed rate mortgages, with £30 billion worth of deals due to finish this month. And a moneysupermarket.com poll of site users reveals 51 per cent of homeowners whose mortgage deals end soon haven't started looking for a new one.

Commenting on the last mainstream lender pulling out of the 100 per cent mortgage market, Louise Cuming, head of mortgages at moneysupermarket.com, said: "The withdrawal of 100 per cent mortgage products by the Bank of Ireland, which includes Bristol & West, has virtually shut the door on anyone buying a house with a deposit of less than five per cent.

A 14% fall in mortgage approvals to 179,000 in May is further confirmation that the market for home loans is shrinking quickly. Just £5.8 billion was advanced to individuals to buy houses last month, compared with £16.9 billion a year ago.

Retirement specialist LV= has launched today a new equity release product - Flexible Lifetime Mortgage - that allows homeowners to draw down funds from the equity in their home when they need to.

The increase in total net lending to individuals in May (£5.4 billion) was below the increase in April and the previous six-month average, according to figures from the Bank of England (BoE).

HSBC is continuing to offer market-leading mortgages by launching a range of discount deals, including a 4.99% two-year discount loan that is the only two-year sub-5% discount mortgage on the market.

Paradigm Mortgage Services, the mortgage partnership proposition, has announced Unleash Advice Partnership Ltd as the latest network to sign up as Partner members.

Paradigm Mortgage Services, the mortgage partnership proposition, has announced the addition of Bright Grey to its dual protection proposition.

Commenting on the introduction of a Mortgage Account Fee on all HBOS mortgages, Louise Cuming, head of mortgages at moneysupermarket.com, said: "HBOS has waited until the exit fees debate has died down before sneaking in a more expensive charge.

Abbey is reducing the fee on all its flexible mortgages by £1,000 to £1,499.

May’s mortgage lending was much weaker than April and a record low number of house purchase approvals means the subdued picture will continue, according to the British Bankers’ Association (BBA).

The new Mortgage & Lifestyle Protection product from protection specialist LV= has received a coveted five star rating from Defaqto, reflecting the innovation and flexible covers offered by the newly launched Mortgage Payment Protection and Living Expenses Protection plan.

Paradigm Mortgage Services, the mortgage partnership proposition, has revealed Equilaw LLP as its chosen legal services supplier for all equity release-related matters.

The 1st quarter 2008 sales figures issued by SHIP reflect a strong underlying demand despite a drop in funds released, comments Just Retirement.