Mortgage News
Homeowners would opt to fix in uncertain market
Nearly four out of five (79 per cent) of homeowners, if they had to re-mortgage tomorrow, would choose a fixed rate mortgage over a tracker, according to research from Abbey.
If it’s broke then fix it
David Kuo, Head of Personal Finance at Fool.co.uk, says: “We are disappointed in the FSA’s findings that continue to show problems in the selling of Payment Protection Insurance.
New two-year view of bank rate brings first of low fixes
Katie Tucker of John Charcol comments, “Three month LIBOR is falling and now stands at 6.34%, compared to the 6.9% that it reached last week, following the £10 billion pumped into the wholesale money markets by Bank of England last week.
Britannia launches new mortgage deals
The following mortgage products will be launched on Friday 28th September 2007:
PPI firms still failing to treat customers fairly
The Financial Services Authority (FSA) has published the findings of its latest review of Payment Protection Insurance (PPI) selling standards.
Platform reduces rates across conforming range
Platform, the intermediary lender of Britannia, is delighted to announce a rate reduction of up to 0.50% across its conforming Prime, Self-Cert, Buy to Let and House Plus (Self Cert Buy to Let) products with immediate effect.
moneysupermarket.com: Post Office mortgage announcement
Commenting on Post Office Financial Services offering mortgages in conjunction with Bristol & West in the North East of England from tomorrow, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said:
Mr and Mrs Average don’t live here anymore
The average 2.4 family is a dying breed, with almost two thirds of people (63%) claiming to be outside of the ‘norm’ according to research from mortgage specialists Birmingham Midshires.
Alliance & Leicester updates mortgage range
Alliance & Leicester is updating its variable rate mortgages from Friday, 21 September 2007.
Alliance & Leicester: CML August lending figures
Stephen Leonard, Director of Mortgages at Alliance & Leicester, said: “Today’s CML mortgage lending figures show a 6 per cent fall in lending for August, compared with July.
New ways of comparing the cost of loans
Research published by the Council of Mortgage Lenders (CML) looks at new methods of presenting information about the cost of loans in a way that is helpful to consumers.
6% fall in gross lending in August
Gross mortgage lending by banks, building societies and specialist lenders fell by 6% in August compared with July, to an estimated £32.2 billion from £34.1 billion, according to the Council of Mortgage Lenders.
Borrowers who snap up large discount trackers could be credit crunch winners
Katie Tucker of John Charcol comments, “You would have to have been living on the moon to have missed the fiasco outside the Northern Rock branches since the news emerged on Friday that it had applied for support from the Bank of England.
More figures needed to determine effects of the sub-prime crisis
Alliance Trust, which has just published an analysis of the chain of events that triggered the current credit crunch, says that until more figures are revealed by the institutions holding related debt or securities it will be impossible to determine exactly how harsh the effects will be on the economy.
'Mortgage inertia' costing homeowners £5.9bn each year
Homeowners not looking for a better deal when their fixed rate mortgage ends face a hefty increase in their repayments if they stay on their lender’s standard variable rate.