Mortgage News

Majority of first time buyers rely on parental support

An overwhelming majority (84%) of first time buyers rely on financial support from their parents, according to Clydesdale and Yorkshire Banks.

First time buyers back tougher mortgage rules

Three quarters (75 per cent) of first time buyers believe banks must lend responsibly despite the fact it will stop some people getting a mortgage, according to a new survey by Shelter.

Top five equity release myths revealed

New research from Safe Home Income Plans (SHIP) has found a lack of understanding of the mechanics of equity release among consumers.

Gross mortgage lending declines in April

Gross mortgage lending declined to an estimated £9.8 billion in April, down 14% from £11.4 billion in March and 5% from £10.3 billion in April 2010, according to data from the Council of Mortgage Lenders.

Average first time buyer deposit is 17 per cent

Deposits paid by first time buyers trying to get on the British housing ladder during the last 12 years have averaged 17 per cent of the overall property value - two per cent more than the current average - and taken an average 29 months to save for, according to research from Santander Mortgages.

Over six million Brits give up on the mortgage game

With UK market conditions continuing to make it difficult for would-be home owners to get on the ladder, the average age Brits expect to be able to buy their first property is now 38 years old, according research from moneysupermarket.com.

N&P increases LTV on self-build mortgages

N&P (Norwich and Peterborough Building Society) is giving a boost to those looking at buying their first home, or re-mortgaging their current home, by introducing two new mortgages at 90% loan to value (LTV). These new mortgages will be available from Thursday 19th May 2011.

Yorkshire to reduce fees on new mortgages

Yorkshire Building Society has announced that it will cut its product fees for mortgages this week. With product fees starting at only £95 the new range will ensure that customers pay no more than £995 in product fees when taking out a new mortgage with the leading Building Society.

Switch to fix? Switch to anything at Coventry Intermediaries

Borrowers who may be unsure about what the future will bring can relax with Coventry's Flexx for Term range of mortgages.

Get mortgage peace of mind for less than £100

"Don't risk it - fix it," is the message from Yorkshire Building Society to homeowners and new buyers concerned about higher mortgage payments in the future.

The Co-op and Britannia reduce mortgage rates

The Co-operative Bank and Britannia have launched a new two year fixed rate product and reduced rates on a number of other products in their mortgage range.

Remortgaging stronger in first quarter of 2011

The balance between house purchase and remortgage lending tipped towards remortgaging at the start of 2011, according to the Council of Mortgage Lenders. Remortgaging accounted for 37% of all lending in the quarter, an increase from 30% in the last quarter of 2010.