Mortgage News
First time buyers swap smokey lungs for property rungs
Abbey Mortgages believes Britain’s public smoking ban could inadvertently help thousands of first time buyers get a foot on the property ladder.
Mortgage misery as monthly payments are missed
Mortgage customers are feeling the pain as interest rates rise with more than 460,000 missing monthly payments in the past six months, new MoneyExpert.com research shows.
Monthly repayments increase for first time buyers in Wales
Peter Griffiths, chief executive of Principality Building Society, said: “This latest rate rise from the Monetary Policy Committee (MPC) to 5.75% is clearly a reaction to inflationary pressures.
Bank piles on mortgage woes with further rate rise
Commenting on the widely anticipated quarter of a point increase in UK interest rates to 5.75%, the fifth such rise in the last year, Paul Niven Head of Asset Allocation at F&C said: "The move is no surprise and had been fully discounted by markets.
Rate rise stretches affordability but first time buyers undeterred
With July’s rate rise, affordability is further stretched, but it won’t deter many first time buyers, according to new report.
Mortgage burden soars for first time buyers
The house price boom and rising interest rates mean that first time buyers across the country are now paying almost a third of their total household take home income on their mortgages.
AMI comments on FSA sub-prime results
The Financial Services Authority (FSA) has today (4 July) published the results of its thematic work into the behaviour of intermediaries and lenders in the sub-prime mortgage market.
CML responds to FSA mortgage market findings
The Council of Mortgage Lenders welcomes today's finding from the Financial Services Authority that firms do not appear to be incorrectly selling sub-prime mortgages to prime customers.
Citizens Advice comment on sub-prime market
Sue Edwards, Citizens Advice, said: “Citizens Advice welcomes the work of the FSA in its review of the behaviour of intermediaries and lenders in the sub-prime market.
John Charcol responds to results of FSA sub-prime project
Ray Boulger, Senior Technical Manager at leading independent mortgage adviser John Charcol, comments on the results of the FSA investigation published today: “When the FSA launched their investigation into the sub-prime mortgage market in 2005, there was concern across the industry that it could uncover widespread mis-selling.
GMAC-RFC announces portfolio sale to Britannia Treasury Services
GMAC-RFC today announces its fourteenth portfolio sale to Britannia Treasury Services.
A&L introduces new “thank you’s” for mortgage customers
All customers taking out an Alliance & Leicester mortgage in July will be eligible for a regular savings account paying 15% pa gross/AER.
NYM and GMAC-RFC re-affirm mutual commitment
North Yorkshire Mortgages (NYM) has purchased a further £300 million portfolio of mortgage assets from GMAC-RFC, the latest in a series of acquisitions made by NYM in recent years.
Apathy could cost Britons dearly
Just over two in every five (43 per cent) of Britain's homeowners do not compare all mortgages before taking one out, despite saying low interest rates are the most important factor when choosing a deal.
Yorkshire Building Society launches Mortgage+
Yorkshire Building Society has introduced Mortgage+, a no deposit mortgage that allows an extra 15% above the property value to be borrowed.