Mortgage News
UK mortgage market responds to global credit conditions
Affordability in the mortgage market continued to show some resilience to tightening credit market conditions in November, according to the Council of Mortgage Lenders (CML).
Borrowers log on for mortgages
Ninety five per cent of people looking for a mortgage will use the internet at some stage, with one in five (20%) prepared to complete the full mortgage online, according to research by Yorkshire Building Society and yourmortgage.co.uk.
Giraffe offers online mortgage applications for direct customers
Giraffe Money has revamped its website and for the first time is offering online applications for direct customers via giraffemoney.co.uk.
No logical justification to talk ourselves into recession
With many commentators publishing housing and mortgage market predictions for 2008, the overall tone has been negative and the Intermediary Mortgage Lenders Association (IMLA) believes there is a real danger of this feeding a spiral of worsening sentiment.
CML: BoE credit conditions survey
Responding to the latest credit conditions survey published by the Bank of England, the Council of Mortgage Lenders makes several points:
New Year, New Libor
Life was expensive for new borrowers during the latter half of last year, as a result of the liquidity crisis pushing up the banks' interest rates.
Consumer lack understanding on equity release
Nearly one in four people (24%) would not know where to turn for advice about equity release, even though almost half (45%) see it as a possible option for them, according to research from Newcastle Building Society Equity Release Service.
Banks and building societies battle for cheapest mortgages
While a bank was the cheapest mortgage lender in 2007 for existing borrowers in Defaqto’s annual survey, building societies took two of the top five places and five of the top ten.
Mortgage lending continues to slow
November’s mortgage lending rose more slowly than in October and approvals were again low, according to the British Bankers’ Association (BBA).
Save more than money with HSBC’s 2008 sale
HSBC’s 2008 January Sale is offering great deals and discounts on a range of personal finance products, as well as giving customers a chance to help save one of the most important and endangered parts of the planet.
Find a better mortgage deal with Tesco - or get £100
Until 9 January, homeowners can claim £100 if they can’t find a better mortgage deal through the Tesco Mortgage Finder.
Scrooge lenders fail to pass on rate cut
Borrowers on Standard Variable Rate mortgages look set for a disappointing Christmas with 78 per cent of lenders yet to pass on the Bank of England's rate cut of early December.
Pink and Abbey launch a Christmas Cracker!
With the festivities in full swing, Pink Home Loans couldn’t resist by launching an early Christmas present for its Appointed Representative and Directly Authorised customers.
RICS: CML November mortgage lending figures
Simon Rubinsohn, RICS chief economist said: "It is clear that the credit crunch is hurting the housing market. Lenders are becoming more selective in whom they are willing to advance funding to.
Decline in gross lending in November
Gross lending declined to an estimated £30.7 billion in November, down 8% from £33.5 billion in October and 8% from £33.2 billion in November 2006, according to the Council of Mortgage Lenders.