Mortgage News
Customer misconceptions about equity release still strong
Advisers active in the equity release sector are still having to work hard to allay a significant number of misconceptions held by clients about the products when they offer their advice and recommendations on the choices available.
First-time buyer activity up again in March
First-time buyer activity remained strong in March with the number of first-time buyers increasing by 20% according to data published by the Council of Mortgage Lenders.
Mortgage range ‘doesn’t meet customer needs’
Just one in five people believe the current range of mortgage products provide enough choice and differentiation to meet customer needs, according to new research from housing investment and equity loan provider, Castle Trust.
Retirees manage mortgage and personal debt of £105bn
The UK's retirement nation collectively manages mortgage and personal debt to the tune of £105.5bn, according to research from MGM Advantage.
first direct cuts rates across mortgage range
first direct has responded to market movements and will further reduce rates on over 85% of its mortgage range by up to 50 basis points.
250,000 over 50s say they will have to sell home to pay off mortgage
While most young people are struggling to get on the property ladder, some over 50s are clinging on to the last rung.
Home loans fall 7% in March as borrower finances feel the strain
House purchase lending fell 7% in March thanks to weakening borrower demand and tough lending criteria, according to the latest Mortgage Monitor from e.surv chartered surveyors.
Lending to first-time buyers increases in February
The number of first-time buyers increased by 3% in February, marking the best start to a year since 2008, according to data by the Council of Mortgage Lenders.
First time buyers need more help to buy
The average age UK house hunters estimate they will be able to buy their own home by is 37 years old, according to research by MoneySupermarket.com.
Boost for first time buyers and existing customers from Santander
Santander is demonstrating its continued commitment to helping first time buyers get a foot onto the property ladder by offering reduced rates for shared ownership customers.
More than 1.3 million over-55s still pay mortgage
More than 1.3 million over-55s households are still paying mortgages with 289,000 over-65s owing money on their home loan, according to analysis by equity release lender More 2 Life.
New home buyers urged to get mortgage fit
Barratt Homes is urging homebuyers in Northampton to take action to get mortgage fit and avoid missing out on the ‘Help to Buy’ scheme, announced in the 2013 Budget, which is set to slash the cost of buying a new home to a five year low.
Mortgage lending by mutuals grows further in February
Gross mortgage lending by building societies and other mutual lenders was £2.5 billion in February, up by 29% compared to the same month last year.
Chelsea launches competitive new rates
Chelsea Building Society is boosting the competition in the mortgage market by cutting rates on selected products across its mortgage range, with the largest reductions on first time buyer mortgages.
Gross mortgage lending fell 8% in February
The Council of Mortgage Lenders estimates that total gross mortgage lending declined to £10.5 billion in February.