Fixed Rate Mortgages
Fixing the problem?
Borrowers need to find three times more for a deposit, compared with two years ago when the credit crunch began.
Fixed rates more popular than ever
Fixed rates remained popular last month according to the John Charcol Index, the monthly mortgage activity monitor from John Charcol, the UK's leading independent mortgage adviser.
Lenders desert long term fixed rate mortgages
This week sees Manchester BS withdrawing its 30 year fixed rate mortgage, meaning that borrowers can no longer fix their mortgage repayments for more than 15 years.
Nationwide launches new fixed rate mortgage deals
Nationwide Building Society has announced that it is launching a new one year fixed rate mortgage available from 3.59%, a new four year fixed rate mortgage available from 5.28% and a new three year capped tracker mortgage available at 3.99%.
Abbey launches market leading four-year fixed rate
Abbey has introduced a market leading four-year fix at 85 per cent LTV with a rate of 5.99 per cent. The product, which is available through Abbey branches and over the telephone, has a fee of £995 and comes with either the Homebuyer Solution or Remortgage Solution.
Almost 90% of borrowers fixing their mortgage rate
Legal & General's sixth report in the ‘Mortgage Purchase Index' series analyses trends from thousands of mortgage applications made in the last quarter through Legal & General's Mortgage Club.
Fix now or forever hold your peace
Fixed rate mortgages have been falling for nearly two years, but moneysupermarket.com warns they are about to start creeping up again.
Fixed rate mortgages set for imminent increase
Ray Boulger of leading UK mortgage broker John Charcol said, "Yesterday we saw another sharp rise in swap rates, following closely on from other recent increases.
Britannia re-introduces 90% LTV option across mortgage range
Available from next week, borrowers can take their pick of two, three, five, ten and 15 year fixed-rate deals with a choice of three LTV bands (up to 60%, up to 75% and up to 90%).
Tide begins to turn towards competitive fixed rate mortgages
Demand for variable mortgage products has almost halved since the start of the year according to new research from Abbey Mortgages.
Leeds launches 2-year fixed rate mortgage at 3.40%
Leeds Building Society has launched a new 2-year fixed rate mortgage at 3.40%. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.
Two year fixed rate mortgages deals lose favour
The balance has tipped in favour of longer term fixed rates. 56% of fixed rates taken out in May from the national brokers Mortgageforce are 3 year or longer deals.
The only way is up for interest rates, so should people fix?
Since falling from five per cent in September last year, interest rates have now remained at 0.5 per cent for two months, suggesting that they have hit rock bottom.
Lenders increase margins on short term fixed rate mortgages
The cost of the average fixed rate mortgage has risen in the last month, with borrowers looking for longer term mortgages being hardest hit, according to Moneyfacts.co.uk.
Abbey increases LTV on fixed rate mortgages
Commenting on Abbey increasing the LTV on all fixes from 60 to 70 per cent, Louise Cuming, head of mortgages at moneysupermarket.com said: "This is a step in the right direction, and is a good example of a bank trying to help its customers - others should follow their lead.