Mortgage News
A five star product from the Co-operative Bank
Today sees the launch of a new two year discounted tracker rate mortgage from the Co-operative Bank, taking the market by storm and shooting straight to the top position in the Moneyfacts.co.uk best buy charts.
Nationwide cuts the price of fixed rate mortgage deals
Nationwide Building Society has announced that it is cutting the price of some of its fixed rate mortgage deals to make them some of the most competitive rates available.
Principality launches affordability calculator for borrowers
Principality, Wales’ largest building society, launches its new affordability model, which makes it easier for borrowers to calculate the maximum size of mortgage that they can afford to repay.
Mortgage holders clueless on impact of rising interest rates
The financial impact of rising interest rates on mortgage payments is miscalculated and misunderstood by almost three quarters (70 per cent) of British mortgage holders according to the latest Personal Credit Index survey from CreditExpert.co.uk, the online credit report monitoring service from Experian.
Sale-and-leaseback schemes need regulation
The Council of Mortgage Lenders, Citizens Advice and Shelter are today calling upon the Treasury to allow the FSA to regulate sale-and-leaseback schemes, in order to provide greater protection for consumers.
UCB Home Loans re-vamps product range
UCB Home Loans, the specialist lender of Nationwide, is making a number of improvements to its product range, effective from 22 October 2007.
Variable and fixed rates at the same price – that can’t be right!
Julia Harris, Mortgage Expert at Moneyfacts.co.uk, comments: “The sub prime sector continues to see most of the action in the mortgage market, with still rising rates and tightening credit criteria.
KRS comments on 'Tonight' with Trevor McDonald on equity release
In response to yesterday’s ITV1 programme, Tonight with Trevor McDonald, that looked at Shared Appreciation Mortgages (SAMs) and Sale and Rent Back schemes in the UK, Dean Mirfin, Business Development Director at Key Retirement Solutions, the UK’s leading independent equity release specialist said:
Mortgage market just needs a good dose of confidence
Recent events in the mortgage and financial markets have had a serious impact on confidence among both investors and consumers, and Mr Darling’s downbeat forecast of lower growth in his Pre Budget Report provided little obvious cheer to homeowners and potential buyers.
Rejected mortgage applications up 60% in six months
More than 738,000 applicants have been turned down by mortgage firms in the past six months as banks and building societies enforce stricter lending conditions, new research by MoneyExpert.com shows.
First-time buyer numbers drop by one fifth in just six months
Where have all the first time buyers gone? The latest edition of the moneysupermarket.com ‘Mortgage Map’ reveals first-time buyers are disappearing at an alarming rate.
Mortgage market sees an all too brief calm after the storm
Katie Tucker of John Charcol comments, “The last minute withdrawals of rates have slowed this week, with lenders announcing more conservative ranges and some competitive fixed rates, however this calm is unlikely to be maintained:
New mortgage deals for the undecided
The outlook for interest rates remains uncertain this week. Over the last few months an imminent rate hike has turned into a potential cut, but comments on Tuesday from the Governor of the Bank of England, suggesting that inflation is still a threat, mean that the next move is now anyone’s guess.
Opportunities for balance sheet lenders following the credit crunch
As the recent credit crunch forces lenders to reprice their mortgage rates and non conforming lending drops, traditional balance sheet lenders could look to take advantage and expand their business further into the non conforming arena, according to Spicerhaart Financial Services.
Bristol & West Mortgages help first time buyers get started
The number of first time buyers taking out mortgages in June 2007 has dropped by 4,000 on June last year, according to the Council of Mortgage Lenders.