Mortgage News
RICS: Bank of England mortgage approval data
Commenting on Bank of England mortgage approval data, Simon Rubinsohn, RICS chief economist said: "Mortgage approvals remained little changed in February at 73,000.
1.4 million borrowers likely to face higher mortgages
1.4m borrowers are likely to face higher mortgage costs in 2008 when their fixed rate mortgages come to an end, according to the Financial Services Authority.
first direct withdraw mortgage sales to non customers temporarily
first direct is temporarily withdrawing its mortgages, including its two-year fixed rate offset mortgage (4.95%), from sale to non first direct customers with effect from 5pm on Tuesday 1 April.
IMLA: FSA Mortgage Effectiveness Review
Peter Williams, Executive Director of the Intermediary Mortgage Lenders Association, comments on the second stage of the FSA’s Mortgage Effectiveness Review: “IMLA welcomes the publication of the second stage of the Mortgage Effectiveness Review
CML: FSA MCOB effectiveness review of lifetime and sub-prime
The Council of Mortgage Lenders welcomes the report from the Financial Services Authority on the second stage of its review of the effectiveness of the mortgages conduct of business rules (MCOB), which focuses on the effectiveness of the rules as they relate to lifetime mortgages and the sub-prime mortgage market.
Mortgage review findings will help shape future of FSA regime
The Financial Services Authority (FSA) has published the findings of the second stage of its Mortgage Effectiveness Review, which focused on consumer experiences in the sub-prime and lifetime mortgage sectors of the market.
Retirees in ill-health urged to seek out enhanced terms
As the UK equity release market continues to grow with a 9% rise in demand over the last year, many retirees may be unaware that if they are suffering from ill health, they may be entitled to enhanced terms available from some specialist providers reveals Key Retirement Solutions.
The price of loyalty
Mortgage lenders are ignoring the age old business adage that it's five times more expensive to win a new customer than to keep an existing one.
Legal & General launches Mortgage Purchase Index
Legal & General has launched a quarterly index analysing the type of mortgages, average LTV and average rates for mortgage applications through its Mortgage Club. The data is based on over 28,000 applications over the past three months.
RICS: BBA mortgage lending data
Commenting on the BBA mortgage lending data, Simon Rubinsohn, RICS chief economist said: "The modest pick up in mortgage lending in February reflected in BBA data released today is unlikely to be sustained.
Mortgage lending strengthens slightly
February’s net mortgage lending strengthened, reflecting some increase in the banks’ market share as a result of recent strong remortgaging, according to the British Bankers’ Association (BBA).
Nationwide to raise rates on tracker and fixed rate deals
Commenting on Nationwide's decision to raise rates on its tracker and fixed rate deals by up to 0.6 per cent and withdrawing some of its most popular deals, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said:
moneysupermarket.com: Chelsea revised mortgage range
Commenting on Chelsea Building Society’s revised mortgage range, after pulling its products from the market for a few days, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said:
Further bank rate cut still needed despite inflation and growth figures
Charcol’s Katie Tucker comments: “A further Bank Rate cut would not normally be expected in an environment of improved growth expectations combined with inflation climbing to 1% over target.
Credit crunch hits smaller lenders
Over the last few weeks we have seen more changes in the mortgage market time than ever before. Denise Harvey, mortgage analyst from moneyfacts.co.uk, looks at what has been going on.