Mortgage News

Significant growth in equity release only a matter of time

SHIP (Safe Home Income Plans) – the body championing high standards of delivery from UK equity release providers - today welcomed the recent report by Peter Williams for the CML, but says there is a danger of talking down faster growth in the sector.

It's like the clocks have been turned back 15 years

Andrew Montlake, partner, independent mortgage broker, Cobalt Capital, reflects on February's mortgage lending figures announced today by the CML:

Gross lending declines in February

Gross lending declined to an estimated £24 billion in February, down 7% from £25.9 billion in January and 6% from £25.6 billion February 2007, according to the Council of Mortgage Lenders.

Mortgage mayhem but don’t panic, get advice

Charcol’s Katie Tucker comments: “Despite the Bank of England making available to the financial markets another £5bn to ease the liquidity crisis (which was immediately five times oversubscribed), this weeks’ headlines will inevitably concern mortgage borrowers.

Commercial First suspends new lending

The UK’s leading specialist commercial mortgage lender, Commercial First, has announced that with immediate effect all new lending has been suspended.

Biggest isn’t always best

The fallout from the credit crunch and predicted falling house prices have forced lenders to consider their positions in the market and reassess their attitude to risk based lending.

Many more seek help with mortgage arrears

More people are seeking help because they are having problems paying their essential household bills, according to figures released by national charity Citizens Advice.

First time buyers squander £1.98 billion from nest eggs

Two fifths (42 per cent) of Britons that are currently saving up to own their first home have blown a combined £1.9 billion from money saved towards a deposit, according to new research from Abbey Mortgages. That’s almost four times the 11.2 per cent who did so last year.

Opportunities for UK equity release market

New research from the CML looks at why the equity release market has developed more slowly in the UK than in the USA, Australia and New Zealand.

moneysupermarket.com: Open Market HomeBuy products

Commenting on the Budget's disappointing mortgage focus, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "Putting a significant focus of the Budget on Open Market HomeBuy products is a huge disappointment.

The decline of sub prime lending – where will it end?

It seems that the effects from the credit crunch on the sub prime mortgage market are far from over. Julia Harris, mortgage analyst from moneyfacts.co.uk looks at recent changes to the ever-depleting market.

Brokers can play key role in mitigating rising arrears and possessions

Intermediaries believe they have a role to play in helping to manage arrears and possesions by providing advice and counselling to borrowers, and helping them to liaise with their lender, according to the Intermediary Mortgage Lenders Association’s (IMLA) latest survey.