Mortgage News
Moneyfacts mortgage facts
Denise Harvey, mortgage analyst at Moneyfacts.co.uk, comments "Two weeks on from the base rate cut 38 lenders (38%) have announced that they will cut their SVR.
HSBC to cut standard mortgage rate by 0.25%
HSBC Bank plc announces it will reduce its HSBC variable mortgage rate by 0.25% from the 9th May 2008.
RICS: BBA mortgage approvals
Commenting on the BBA mortgage approval figures, Simon Rubinsohn RICS chief economist said: "The tightening in the credit crunch is continuing to take its toll on the residential property market with BBA data showing mortgage approvals at their lowest level since September 2000.
AMI publishes white paper on credit crunch solutions
The Association of Mortgage Intermediaries (AMI) has published a white paper on credit crunch solutions for the mortgage industry.
AMI responds to Bank of England £50 billion help plan
The Association of Mortgage Intermediaries (AMI) has today (21 April) cautiously welcomed the move by the Bank of England to offer up £50bn of Mortgage-Backed Securities (MBS) for government bonds.
CML: Bank of England special liquidity scheme
The CML welcomes the announcement of a special liquidity scheme by the Bank of England, initially likely to be around £50 billion, and hopes it will have the desired effects of improving the liquidity position of the banking system and restoring confidence in financial markets.
Borrowers warned to keep their guard up
The Bank of England's collateral swap will only delay the inevitable not eliminate it, David Kuo, Head of Personal Finance at Fool.co.uk, says: "The Bank of England's scheme to allow high-street lenders to swap mortgage debts for secure government bonds will only provide temporary respite for borrowers.
Mortgage lending to worsen
Gross lending increased to an estimated £26.3 billion in March, up by 5% from £25 billion in February and down by 17% from £31.7 billion in March last year, according to the Council of Mortgage Lenders.
Mortgage fee misery
Consumers are facing a double whammy on mortgage set-up fees, according to research from uSwitch.com, the independent price comparison and switching service.
Bank rate cut but no improvement
Thursday's Bank rate cut, regrettably, but unsurprisingly, had no helpful effect on lenders' cost of funding; although today's auction of £15bn has brought down slightly the 3 month LIBOR.
moneysupermarket.com: changes to RBS One Account mortgage
Commenting on changes to the RBS One Account mortgage, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "Anyone applying for a One Account mortgage will now have to have their salary paid into a One Account current account.
Coventry to reduce standard variable rate by 0.25%
Following last week's Bank of England MPC announcement, Coventry Building Society announces that its standard variable mortgage rate will decrease by 0.25%.
Affordable mortgages still available
There is no doubt that it would be easy to draw the conclusion that the ‘credit crunch' is just another phrase for ‘no affordable mortgages available'.
Platform and enterprise unite
Platform, the intermediary lender of Britannia, is delighted to announce the first stage of its technology integration with leading broker services provider Enterprise Group.
Equity release market remains buoyant
Despite the difficult economic and market conditions over the first quarter of 2008, the equity release market remains buoyant with more than £290 million released from UK homes over that period.