Mortgage News

First-time buyer activity receives October boost

The number of loans advanced to first-time buyers in October returned to levels similar to those seen over the summer following a slow September, according to data released by the Council of Mortgage Lenders.

Virgin Money reduces rates for first time buyers

Virgin Money is reducing a number of interest rates in its residential mortgage range. The updated range will be available from 7 December 2012 and the main changes are focused on helping those borrowers who have a smaller deposit, including first time buyers.

West Brom cuts mortgage rates

The West Brom is reducing costs to home buyers and widening choice by re-pricing its complete range of direct mortgage products.

3.6 million SVR borrowers could save £1000 a year by remortgaging

HSBC estimates that 4.4 million mortgage borrowers, representing 39% of the total mortgage market, are now on their respective lenders' Standard Variable Rate (SVR). The average of UK lenders SVRs is currently 4.86%.

Platform expands mainstream range with new products and cuts rates

Platform will reinvigorate its mainstream mortgage range on Monday (3 December 2012) with a selection of competitively priced products - some with the added bonus of £250 cash back.

Mutuals continue to grow lending to homebuyers

Gross mortgage lending by building societies and other mutual lenders was £3.0 billion in October, up by 29% compared to the same month last year, according to the Building Societies Association.

Post Office extends Mortgage Specialists in branch offering

Following the successful launch of the Mortgage Specialists in branch offering earlier this year, the Post Office is introducing Specialists into a further three branches across the UK – Peterborough, Nottingham and Cambridge.

Chelsea respond to first time buyer needs

Chelsea Building Society has announced the launch of a unique first time buyer mortgage, responding to the needs of buyers looking to step onto the property ladder.

Second time buyers face £62,000 moving gap

First time buyers (FTBs) who bought a property in 2007 face a gap of £62,281 when trying to move to the second rung on the housing ladder according to research from online bank first direct.

Bristol extends first-time-buyer initiative with Leeds Building Society

Bristol City Council has teamed up with Leeds Building Society to help even more first-time buyers on to the housing ladder.

House purchase lending rises in third quarter despite slow September

While house purchase lending in the third quarter showed a 13% rise, monthly lending has not followed an even path during the quarter, according to the Council of Mortgage Lenders.

Family funding drives mortgage deposits

With the Bank of Mum and Dad, and even Gran and Grandad, firmly back in the spotlight, new research from Clydesdale and Yorkshire Banks has revealed that almost half of first time buyers in the UK turn to their family for help with raising the deposit to get a first foot on the property ladder.