Mortgage News
Strong mortgage lending to continue
November’s gross mortgage lending was a record at £21.4bn, some 13% higher than October’s figure and 19% higher than the £18.0bn in November last year, according to the British Bankers’ Association (BBA).
Lloyds TSB launches a New Year mortgage special
Lloyds TSB is launching a new Low Start Mortgage, with a rate of 1.99% until 29 February 2008 moving to a rate of 5.99% until 29 February 2012.
Top 5 things to sort out when it comes to your mortgage
Top 5 things to sort out when it comes to your mortgage, according to John Charcol.
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.
November mortgage lending highest ever
Gross lending hit an all time record of £33.1 billion in November according to the latest data from the Council of Mortgage Lenders (CML).
Friends united
A whopping 85 percent of Britannia members would recommend the Society to a friend.
Little movement in bank rate and slower house price growth
As 2006 draws to an end, following an active few months for the Monetary Policy Committee (MPC), Ray Boulger, Senior Technical Manager at John Charcol, forecasts what we can expect to see in 2007.
Interest rate changes have limited effect on niche lending
Interest rate changes have had a limited effect on niche areas of lending, and the outlook for next year is for continued increases in house prices, according to research undertaken last month among 1,300 mortgage intermediaries.
Spanish homes needn’t costa packet!
As winter draws on in the UK, Norwich and Peterborough Building Society (N&P) is helping people to live the dream of buying a home in the sun – with three new mortgage options!
Woolwich launches new City Mortgage
The Woolwich which pioneered the ‘City Mortgage’ in October with its ‘buy now offset your bonus when you get it’ deal, is this week launching a new product for the larger loans market (over £500,000) as bonuses start to become reality rather than a future hope.
John Charcol comments on FSA report on interest only mortgages
Ray Boulger, senior technical manager at John Charcol, comments on report by the FSA on interest only mortgages:
Consumers with interest-only mortgages need to have robust repayment plans
Consumers taking out interest-only mortgages generally have a reasonable understanding of the risks involved but a significant minority do not have a robust repayment strategy in place, the Financial Services Authority (FSA) said in a report today.
More borrowers opting for interest only mortgages
According to a bi-annual report by Paragon Mortgages, the number of people taking out interest only mortgages has seen a steady rise over the last five years, from less than 10% of cases in 2001 to over 25% now. In fact the proportion has grown from 20% to 25% since 2005.
Fool.co.uk comments on reclaiming unlawful bank charges
Ahead of the BBC’s programme on penalty charges, The Motley Fool actively supports customers reclaiming unlawful default charges from their banks, but also urges them to consider the long-term implications.
Pay off your mortgage more than 6 years early – now that’s a bonus
This year, it certainly seems that what an increasing number of people want for Christmas is less debt. Compared to a survey conducted last year, where 18% had used their Christmas bonus to pay off debt, this year 26% of people surveyed who received a bonus intended to use their bonus to reduce the amount they owe.