Mortgage News
Britons chase house prices higher in 2006
Despite last year’s two base rate rises, Britons appear committed to chasing house prices higher AND to going deeper into debt while doing so. For 2006 as a whole, the average value of property being searched against on Moneyextra.com’s mortgage comparison tool rose by 7.44 per cent to £223,310, but the average mortgage amount being sought has risen even faster – going up by 8.91 per cent.
Lifetime mortgage advice on the up
New figures from unbiased.co.uk the organisation promoting the benefits of independent financial advice, reveal that almost 2,000 of its IFA members now list lifetime mortgages as an area of specialism within their business.
A new mortgage at the click of a mouse
Many borrowers will start the New Year with a resolution to sort out their finances but they may not realise that they can do this from the comfort of their own home.
Abbey changes variable tracker rates
Following last week’s increase in the Bank of England's base rate from 5.00 per cent to 5.25 per cent, Abbey's variable tracker rate mortgages, which automatically follow changes in the base rate, have increased by 0.25 per cent.
Bad start to the year for borrowers and there’s more to come
Affordability may be pushed to the limit - and in some cases beyond - for many homeowners in the wake of the Bank of England rate rise, said broker My Mortgage Direct (MMD).
Halifax increases mortgage rate
Following the announcement by the Monetary Policy Committee of an increase in the Bank Base Rate, Halifax will be increasing its standard variable rate (SVR) from 7.00% to 7.25%.
Bank votes for a mid-winter shock
Ray Boulger of John Charcol, the UK’s leading independent mortgage adviser, comments on today’s decision by the Monetary Policy Committee (MPC) to increase Bank Rate by 0.25% to 5.25%.
Coventry Building Society introduces new mortgage products
Coventry Building Society is today introducing competitive products to its residential, buy to let and self certification ranges.
Mortgage Express and PMS celebrate £1bn of applications
Mortgage Express has announced Premier Mortgage Service (PMS) generated a record £1bn of applications across its product range in 2006.
New specialist mortgage deals from Alliance & Leicester
Alliance & Leicester is amending its current range of fixed rate specialist mortgages and its Near Prime Base Rate Trackers.
Will it be a happy New Year for mortgage holders?
As the Bank of England Monetary Policy Committee (MPC) meets later this week, many mortgage customers will be counting the cost of Christmas and wondering what will happen to their mortgage payments.
N&P launches ‘credit repair’ mortgage range
Norwich and Peterborough Building Society (N&P) has launched a new range of mortgages aimed at homebuyers whose credit rating is low due to previous debt problems.
GMAC-RFC’S lending exceeds £12 billion in 2006
GMAC-RFC today released their pre-audit lending figure for 2006 at £12.1bn – a staggering 75% year-on-year growth in a market that is estimated to have grown by 15%.
Banks still cheapest for mortgages
Banks held on to the top spots as cheapest mortgage lenders in 2006 for existing borrowers, according to new research from Defaqto, the financial research company.
Woolwich launches new 2007 mortgage range
Woolwich, which established itself as the market's leading provider of long term fixed rates and life time trackers in 2006, is starting 2007 with a new mortgage range that includes its best ever life time tracker deal as well as two best buy fixed rates.