Mortgage News
Switch your mortgage for free with The Cambridge Building Society
In response to economic forecasts predicting early and rapid increases in bank base rates, homeowners in East Anglia are being encouraged to consider switching to a fixed rate mortgage.
Paradigm add Lloyds TSB Scotland Spearhead to PFA panel
Paradigm Mortgage Services, the mortgage partnership proposition, has added Lloyds TSB Scotland Spearhead Mortgages for intermediaries to the lender panel of Paradigm Financial Advisers (PFA), the network service for appointed representatives.
Paradigm warns on current and saving account-related mortgages
Paradigm Mortgage Services, the mortgage partnership proposition, has urged mortgage brokers to inform and educate their potential first-time buyer client base about current and saving account-related mortgages and whether they truly represent the most suitable option for their needs.
Nationwide cuts mortgage rates
Nationwide is cutting mortgage rates by up to 1% for new and existing homebuyers who have a small deposit. The Society will also reduce its product fee by £500 for those who are moving home - effectively a 50% reduction.
Savings and borrowing rates
The Bank of England has announced that the bank base-rate will remain at 0.50% - the base-rate has now been at this historic low for 26 consecutive months.
Mortgage approvals by mutuals jump 29% in March
Mutuals approved £2.1 billion worth of mortgages in March 2011, which is up 29% on the £1.7 billion approved in March 2010 and compares to £1.7 billion in February 2011.
First-time buyers can "Save To Buy" with Nationwide
Nationwide is to launch Save to Buy - an account for first-time buyers to save regularly towards their deposit that also enables them to apply for a Nationwide mortgage with a lower deposit of 5% (95% LTV). The account will be available from 6 May 2011.
First time buyers save five years for deposit
Almost a quarter (23 per cent) of first time buyers trying to get on the British housing ladder expect to spend at least five years saving up for a deposit on their first home, according to research from Santander Mortgages.
HSBC & first direct - Which? recommended mortgage lenders
HSBC and first direct have been named as Which? recommended mortgage lenders. Which? selects ‘Recommended Providers' by looking at which lenders have the best customer satisfaction scores and also offer consistently good deals.
Coventry BS launches mortgage deals starting from 1.99%
Coventry Building Society has launched the following fantastic new Fixed, Capped Tracker and Flexx for Term products;
Half price mortgage offer from Clydesdale and Yorkshire Banks
Clydesdale and Yorkshire Banks are launching a mortgage deal which is guaranteed to put a spring in the step of homeowners.
Buying is 14% more affordable than renting
The cost associated with buying a home in the UK is typically 14% lower than renting a property, according to research by Halifax.
Enhanced equity release sales surge in Q1
Strong sales of enhanced equity release plans have established More 2 Life as the third biggest lender after just six months of full operation, new figures show.
Aviva improves its equity release plans
Aviva, the market leader in equity release, is helping its customers by improving its lifetime mortgage plans. The improvements have been introduced following feedback from customers and financial advisers and include:
Gross mortgage lending up 21% in March
Gross mortgage lending was an estimated £11.3 billion in March, a 21% rise from £9.3 billion in February and a 2% decline from £11.5 billion in March 2010, according to data from the Council of Mortgage Lenders.