Mortgage News
Mortgage lending strengthens
January’s mortgage lending strengthened a little and approvals for remortgaging were exceptionally strong, according to figures from British Bankers’ Association (BBA).
Northern Rock pulls its 125% LTV Together product
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "It seem Northern Rock have finally given in to external pressures and pulled its high risk 125% LTV product.
Equity Release to date - What has changed?
Now that the dust around the new equity release figures for 2007 has settled, I would like to mention some of the highlights from the Key Retirement Solutions equity release market report which provides some exciting food for thought on the equity release market.
Citizens Advice response to latest repossession figures
Citizens Advice Head of Consumer Policy, Sue Edwards, said: “Not only have the number of repossessions increased by 21% in the past year, but the total number, at 27,100, is almost twice the total two years ago in 2005.
AMI responds to mortgage fraud speculation
The Association of Mortgage Intermediaries (AMI) has responded to comments made by Philip Robinson at the Financial Services Authority (FSA) about possible criminal activity in the mortgage market.
Rogue sale and rent back providers will be caught out by code of practice
National Association of Sale and Rent Back (NASARB), the only market-wide national trade body for the sale and rent back sector, has confirmed that a voluntary code of practice will focus on protecting consumers from rogue providers.
£26 billion of mortgages through Legal & General Mortgage Club
The Legal & General Mortgage Club was responsible for arranging almost £26 billion worth of mortgages in 2007, up 16% from the previous year.
Godiva Mortgages announces key intermediary partners
Godiva Mortgages has announced partnerships with selected intermediary partners for their launch into the equity release market on Thursday 28 February.
First-time buyers should take avoiding action now
David Kuo, Head of Personal Finance at Fool.co.uk, says: “First-time buyers who have taken out interest-only mortgages should heed the warning by the Bank of England over tightening credit conditions.
Inflation risk remains high, delaying further bank rate cuts
“Last Thursday’s rate reduction was no surprise and was sorely needed to continue to ease the liquidity crisis that UK lenders currently face”, comments Katie Tucker, Technical Manager for Charcol.
Where do your credit card payments go?
Most consumers look to be getting a raw deal when it comes to paying off their credit card debts.
Charcol tracks UK mortgage trends
With the mortgage and property landscape rapidly evolving to fit a changing economic situation in the UK, Charcol, the whole of market, fees free broker, has launched the Charcol Mortgage Monitor giving an insight into market trends and the habits of buyers and remortgagers.
Recent rate cuts should ease affordability into 2008
While mortgage affordability deteriorated in 2007, the CML expects the two base rate reductions since December will help to ease debt servicing burdens into 2008.
Head-in-sand approach not helpful, says Which?
Following the announcement by the Council of Mortgage Lenders that repossessions are at an eight year high, Phillip Inman, author of Manage Your Debt, a Which? essential guide, gives the following advice:
To fix or not to fix?
With the Bank of England cutting the base rate again, Stroud & Swindon Building Society identifies the actual differences in payments for those considering whether to take out a fixed rate, tracker or variable rate mortgage.