Mortgage News

Comment on sale and rent back schemes

Dean Mirfin, Director of independent equity release specialist Key Retirement Solutions, comments on the increase of sale and rent back schemes: “Concern is certainly on the up about ‘Sale and Rent Back’ schemes, a dramatically increasing unregulated sector of the property market.

first direct reduces 10-year fixed rate offset mortgage

first direct has reduced the interest rate of its highly competitive 10-year fixed rate offset Mortgage from 6.49% (6.9% APR) to 6.25% (6.6% APR).

Tracker rates rise, but are not cause for concern yet

Julia Harris, Mortgage Expert at Moneyfacts.co.uk, comments: “With Abbey starting the ball rolling, the last three days we have seen a surge by some of the big named lenders raising interest rates on their variable mortgages (for new customers) by up to 0.25%.

moneysupermarket.com: Increases in mortgage rates

Commenting on the recent spate of increases in mortgage rates, Louise Cuming, head of mortgages at moneysupermarket.com, said: “The mortgage market seems to have taken a step away from its once controlling hand, the Bank of England, and has the potential to become an untamed beast.

Mortgage market feeling the squeeze

With yet more news filtering through this week of the impact of the US sub-prime crisis on the UK mortgage market, borrowers would not be blamed for feeling at least a little alarmed about what it all means for their own situations.

Bristol & West launch online applications for direct customers

Bristol & West Mortgages (BWM) has announced the launch of consumer online applications for direct customers via bristol-west.co.uk.

Commercial Finance Brokers writing more business than ever!

The National Association of Commercial Finance Brokers has announced the results of its latest annual survey of its members.

Mortgage brokers affected by recent sub prime turmoil

Almost a quarter of all UK mortgage brokers claim the uncertainty caused as a result of the recent turmoil in international markets has negatively effected their business –with a similar number admitting to being nervous about its potential effects.

So when will base rate start to fall?

Ray Boulger of independent mortgage adviser, John Charcol, says: “Today’s decision by the MPC to leave Bank Rate unchanged at 5.75% was regarded as a foregone conclusion by the market.

Abbey comments on Nationwide 'rate shock' release

Following Nationwide's press release on the 'rate shock' facing borrowers who are seeing their fixed-rate deals expire, Clive Kornitzer, Abbey Mortgages, said:

Nationwide urges 'rate shock' borrowers to remortgage

Nationwide reveals that over 250,000 borrowers will see their two year fixed rate mortgage mature between October and December 2007 and are likely to see their average monthly payments increase by around £200 per month as lenders start to charge them their standard variable rate.