Mortgage News

First time buyers keep spending deposit

First time buyers are struggling to raise the deposit for their first home because they can’t stop spending it according to mortgage provider Abbey.

The Mortgage Works reviews buy to let and self cert ranges

Following recent increases in swap rates, The Mortgage Works (TMW) has reviewed its buy to let and self cert product ranges.

Summer is busiest time of year for homemovers

More people move house in the summer than any other time of year. Last summer over 210,000 borrowers moved to a new home. This compares to only 152,000 moving between January and March.

Cut early redemption charges for customers in arrears

Specialist mortgage broker The Mortgage Lender is urging lenders to drop early redemption charges (ERCs) for customers in arrears in a bid to cut repossessions - and to slash the £650m cost to the industry.

UK mortgage lending up in May

May’s gross mortgage lending of £19.7bn was 8% more than in May 2006, according to the British Bankers’ Association (BBA). Though the highest level of new business since November, partly reflecting strong re-mortgaging activity, it follows the usual yearly pattern of stronger lending going into the summer months.

New ERC free credit impaired range from Godiva

On Friday 29 June, Godiva Mortgages, the specialist lending subsidiary of Coventry Building Society, is launching a range of new credit impaired mortgages without ERCs.

Lose pounds with skinny end dates, literally

Charcol.co.uk has found that mortgages with a “Skinny End Date” can potentially cost a borrower with a £200,000 mortgage £968 by not being on the longest deal available.

Interest rates may be up, but savings on mortgages are also up

Moneyextra.com’s latest quarterly review of financial services highlights the savings available just by making the right financial decisions.

Giraffe's new capped rate gives customers the best of both worlds

Giraffe Money has announced the launch of its new two year capped rate mortgage, designed to give customers the best of both worlds.

HSBC lowers the cost of shopping for a Spanish mortgage

HSBC customers who are looking to buy a property in Spain can now take advantage of preferential terms on Spanish mortgages and banking services via HSBC’s exclusive Spanish partner, Solbank – Spain’s multilingual bank.

It’s business as usual for GMAC-RFC during postal strikes

Following the Royal Mail’s Communication Workers Union announcement to strike on Friday 29th June, GMAC-RFC has stated that due to its advanced technology, “It’s business as usual”.

Platform extends online application facility

Platform, the intermediary lender of Britannia, is delighted to announce that its online mortgage application facility ‘clickapplication’ now allows intermediaries to submit applications via packagers as well as the ability to submit business directly to Platform.