Mortgage News

Commenting on Nationwide's monthly house price survey, Louise Cuming, head of mortgages at moneysupermarket.com, said: "This is further gloomy evidence that house prices are slipping and will undoubtedly not do anything to help the already low levels of confidence in the market.

"Bad news seems to be the modus operandi when it comes to mortgages lately, so it is refreshing to see a minor ray of hope shining form the latest British Bankers' Association (BBA) figures.

As part of its ongoing commitment to its intermediary channel, Abbey for Intermediaries has extended the number of brokers who have access to its range of exclusive products, as well as raising the LTV offered on these products.

Darren Cook, Head of Press at Moneyfacts.co.uk, comments: "Households across the UK have got their morning routine of a fresh cup of tea and a bowl of cereal down to a fine art.

Insurance and investment group LV= has launched its innovative Mortgage & Lifestyle Protection product, which is simple to apply for and can protect customer's mortgage payments and living expenses.

April’s mortgage lending was slightly stronger than in March and there were also high numbers of remortgaging loans approved in the month, according to the British Bankers’ Association (BBA).

The proportion of mortgage business represented by remortgaging continues to grow, according to latest survey information obtained by IMLA from both intermediaries and lenders.

Darren Cook, mortgage expert at eMoneyfacts.co.uk, comments: "With continuing uncertainty in the mortgage market and the total number of products continuing to decline, many more people will be considering approaching an intermediary to find them the best mortgage deal for their circumstances.

Abbey continues to strengthen its competitive position in the mortgage market and from today (Friday 16 May) announces reductions in flexible and tracker mortgages and to some of its fixed rate deals.

Dean Mirfin, Business Development Director of independent equity release specialist, Key Retirement Solutions, comments on the OFT's intention to launch a market study into the sale and rent back sector:

New figures from the Council of Mortgage Lenders (CML) show that first time buyers are increasingly looking to mortgage intermediaries to help them get a mortgage and find the best deal.

As well as increasing the eligibility for the Government Homebuy schemes beyond key workers, and out to any first time buyers with household income of less than £60,000, the government has made £200m available for purchasing shares of unsold new homes for social tenants or shared equity schemes.

Michelle Slade, analyst at Moneyfacts.co.uk, comments "It is now five weeks since the last base rate cut and still 24 lenders (25%) have not announced their intentions with regards to their standard variable rate (SVR).

The CML welcomed today's announcement in the government's draft legislative agenda of plans to provide more help for first-time buyers, in particular the widening of access to shared equity schemes.

Mortgage lending for house purchase remained subdued in March but remortgaging levels held up well in the face of funding constraints, according to data released by the Council of Mortgage Lenders.