Mortgage News
Government and mortgage industry urged to help homebuyers
On the eve of the launch of the first ever Moneyfacts mortgage report “Tougher times in the UK residential mortgage market”, Andrew Hagger of Moneyfacts.co.uk comments on the following topics:
Over 10,000 sign Charcol’s “Stamp on stamp duty” petition
Charcol, UK fees free mortgage broker, has gathered 10,400 signatories who agree that the current structure of stamp duty should be abolished in favour of a new system.
AMI calls for a budget for mortgages
The Association of Mortgage Intermediaries (AMI) has called on the Chancellor to introduce a budget for the mortgage market. AMI has called for greater support for first time buyers, extra liquidity in the market and improved income support for those struggling with repayments.
The Bank of England fiddles while the economy burns
“Conditions in the mainstream mortgage market are now rapidly deteriorating at a frightening speed, with lenders changing their pricing and/or criteria at the fastest pace in living memory, and probably ever.” comments Ray Boulger of John Charcol.
Alliance & Leicester: MPC decision to hold bank base rate at 5.25%
Today’s decision by the MPC to hold the Bank Base Rate was widely expected following the recent cut made in response to the continued disruption within the global credit markets, softening UK house prices and mortgage approvals data.
The Bank of England does nothing, but homeowners mustn’t
The Bank of England has kept interest rates on hold at 5.25%. The decision is not unexpected given that the Monetary Policy Committee has been backed into a corner by the twin threats of inflation and recession.
High uptake of fixed rates in February
January was a month of dramatically subdued mortgage activity, dominated by remortgages at a low loan-to-value (LTV) and low income multiples. Any purchases, including first time buyers (FTB’s) were those with ample deposits and good affordability.
What a difference a year makes to mortgages
This time last year Northern Rock was just another bank and the words ‘credit crunch’ had no significance. One year on and the mortgage world is a completely different place.
Report recommends safety net for home-owners at risk of repossession
The growing number of home-owners at risk of repossession could be helped by a new form of insurance which would cover ten months of complete mortgage payments, should they face unemployment, sickness or have an accident.
Alliance & Leicester launches new mortgage deals
Alliance & Leicester is launching a new range of residential and Buy to Let products, which are available from Wednesday 5 March 2008.
moneysupermarket.com: FSA's 'stay in control of your mortgage checklist'
Commenting on the launch of the FSA’s ‘stay in control of your mortgage checklist’ Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "The FSA is to be applauded for trying to actively help people with their mortgage decisions.
Campaign to help homeowners worried about mortgage repayments
One in five mortgage holders are concerned about meeting their repayments in the next 12 months, according to figures from the Financial Services Authority (FSA).
Feeling safer with a fix or time for a tracker?
The Co-operative Bank has launched a new competitive two-year fixed rate mortgage this week at a rate of 5.24%.
Abbey launches automatic verification for mortgage products on Trigold
Abbey for Intermediaries (AfI) has announced that Abbey products on the Trigold sourcing system will be automatically verified to ensure brokers can guarantee that they are receiving up to date and accurate information.
The Nottingham enhances commercial mortgage range
The Nottingham has introduced a major new feature to its new range of commercial mortgages, enabling small and medium-sized businesses to repay as much as 10% of the capital borrowed annually – without incurring charges.