Mortgage News
Alliance & Leicester to cut SVR by 0.25%
Alliance & Leicester will be reducing the Standard Variable Rate (SVR) on its mortgages by 0.25%. The bank will be changing its Standard Variable Rate for existing mortgage customers from 2 May 2008 to 7.19%, down 0.25% from 7.44%. For new customers, the change comes into effect on 23 April.
The Co-operative Bank to cut its SVR by 0.25%
Following changes to the Bank of England Base Rate, The Co-operative Bank will be passing on the full benefit of the base rate reduction to its mortgage customers, by cutting its standard variable rate (SVR) by 0.25% to 6.99%.
moneysupermarket.com: changes to Nationwide mortgage rates
Commenting on the changes to the Nationwide mortgage range rates, Louise Coming, head of mortgages at moneysupermarket.com, said: "Gone are the days brand new customers would be treated well at the expense of existing ones.
RBS cuts its SVR by 0.25 per cent
Royal Bank of Scotland (RBS) has announced that its Standard Variable Mortgage Rate will be cut by 0.25 per cent from 7.44 per cent to 7.19 per cent.
NatWest cuts its SVR by 0.25%
NatWest has announced that its Standard Variable Mortgage Rate will be cut by 0.25 per cent from 7.44 per cent to 7.19 per cent.
First Direct cuts mortgage rate after base rate change
first direct has cut its standard variable mortgage rate by 0.25% from today, 10 April 2007, passing on the full benefit of the Bank of England base rate reduction to its customers immediately.
Only the fittest will survive
The Bank of England, as expected, trimmed interest rates by 0.25% to 5%. However, today's rate cut is unlikely to help many homeowners as lenders either withdraw or replace reasonably-priced products with expensive ones.
CML: decision to reduce rates to 5%
Responding to today's MPC decision to reduce the base rate to 5%, the Council of Mortgage Lenders welcomes the move which, if partnered with increased provisions of liquidity, could help to begin to restore stability to the mortgage market.
MoneyExpert.com: Bank of England base rate cut
Sean Gardner of MoneyExpert.com, said: "Things have changed dramatically since the base rate was last at 5 per cent. Mortgage applications fees have risen by 55 per cent and fixed mortgage rates are also higher now than they were back in November 2006.
Nationwide to decrease mortgage rates by 0.25%
Nationwide Building Society has announced that it will decrease its Base Mortgage Rate (BMR) from 1 May 2008 following a decision by the MPC to cut the Base Rate.
CML welcomes launch of mortgage finance working group
The CML welcomes the launch of the mortgage finance working group, under the chairmanship of Sir James Crosby, and looks forward to actively participating as it develops its proposals.
Some lenders are not distributing mortgages through intermediaries
People looking to remortgage are finding it harder to secure a new mortgage than they have done for many years. And if they are successful, they are likely to be paying more for it in both rates and fees.
Chancellor launches mortgage finance Working Group
Sir James Crosby will lead a group of mortgage industry experts, providing advice to the Government on options for improving the function of mortgage finance markets, the Chancellor of the Exchequer, Alistair Darling announced today.
HSBC's pledge to match fixed rate offers
Commenting on HSBC's pledge to match fixed rate offers coming to an end with other lenders, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said:
Experian offers advice to beat the mortgage freeze
Experian, the global information services company and UK's leading credit reference agency, today advised those nearing the end of their current mortgage deals to ‘spring-clean' their credit reports before they look for a new one.