Mortgage News
Mortgage approvals fall in October
The increase in total net lending to individuals in October (£8.8 billion) was below the increase in September and the previous six-month average, according to data from the Bank of England (BoE).
Homeowners shop around, but for the wrong reasons
Only 40 per cent of homeowners are placing major importance on the size of fees when choosing a mortgage.
Borrowers opt for stability and certainty
Almost one-in-three homeowners (5.1 million people) would choose to fix the interest rate on their mortgage for five or more years if they had to renew their mortgage now, according to research from Abbey Mortgages.
Mortgage fee fear as uncapped charges increase
The number of mortgages with uncapped upfront fees has skyrocketed over the past year, according to MoneyExpert.com.
Double the trouble from mortgage fees
The average mortgage arrangement fee has almost doubled during the last 2 years, according to research from Moneyfacts.co.uk.
FSA clampdown on mortgage brokers
Commenting on the FSA announcement it is to clampdown on 48 broking firms selling self-certification mortgages, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "I welcome this crackdown by the Financial Services Authority.
GHL group joins the Exchange Bond revolution
GHL Group – one of the UK’s premier mortgage distribution companies – will become the first mortgage network to offer its members the Exchange Bond, an alternative to the traditional cash deposit for clients to consider when securing a property.
Just Retirement cuts interest rate on Roll Up Plan
Just Retirement, the equity release specialist, has reduced even further the interest rate on its market leading Equity Release Roll Up Plan.
Equity release widens its market
Most other lending areas are tightening their belts, with stricter conditions, restricted availability and in some cases inflated rates, it is surprising to see the equity release sector beginning to broaden its horizons by way of lowering minimum ages and increasing maximum loan to values.
Trackers to help borrowers in a fix
In response to the expected interest rate cuts in forthcoming months GMAC-RFC, the UK’s 10th largest lender, has reviewed its Partners and Intermediary product range and is replacing current Non-conforming and Buy to Let discount rates with new BBR Trackers, in a bid to offer more competitive rates.
Newcastle Building Society launches new mortgage range
Newcastle Building Society has announced the launch of four fixed rate and one discount rate mortgages.
October mortgage lending data
Commenting on CML mortgage lending data, David Stubbs, RICS senior economist said: “Despite the on-going slowdown in the market, buoyant economic conditions are still encouraging people to take out mortgages and buy homes.
Lucky broker gets POSO-tively pampered by GMAC-RFC
GMAC RFC has presented the winner of its POSO prize draw with a red letter day gold prize up to the value of £1000.
UK mortgage lending up 6% in October
Gross mortgage lending grew to an estimated £32.4 billion in October, rising nearly 6% from £30.6 billion in September and £30.6 billion in October last year, according to the Council of Mortgage Lenders.
Trusting first-time buyers stung by hidden charges
Fool.co.uk has discovered that first-time buyers who put down a 5% deposit pay more for their mortgages overall than borrowers who put down just a 4% deposit, due to enormous hidden charges.