Mortgage News
Northern Rock improves its award-winning mortgage website
Less than six months after scooping a prestigious award for ‘best use of digital’, Northern Rock has further enhanced its mortgage website with a video guide, to help home-buyers through the exciting but sometimes daunting journey of buying their first property.
Intermediaries play crucial role in mortgage market
The Intermediary Mortgage Lenders Association (IMLA) has welcomed evidence that shows intermediaries continued to play a crucial role in the UK mortgage market in 2010, responsible for introducing two thirds of first-time buyer mortgages and over half of home mover loans and remortgages.
Mortgage market stable but subdued
New data from the Council of Mortgage Lenders shows that mortgage lending stabilised in 2010 following very sharp falls in 2008 and 2009.
Securing a mortgage could be easier than you think
Mortgages aren’t as hard to come by as some people think – even for those without a large deposit – according to one of the financial advisers who helps customers secure a brand new Redrow home.
Halifax makes over mortgage range
Halifax has announced changes to its mortgage products. A range of new deals will launch on Friday 11 February in addition to reductions across the range.
HSBC sees increase in applications from First Time Buyers
Stuart Beattie, head of mortgages at HSBC commented, "Although today's decision by the Monetary Policy Committee was expected, homeowners will still be relieved that interest rates have been kept on hold.
Not too late to fix your finances
The Bank of England's decision to keep Base Rate unchanged at 0.5 per cent for the 23rd consecutive month is good news for anyone enjoying low interest mortgage repayments. However, moneysupermarket.com warns borrowers on variable rate mortgages to prepare for a Base Rate increase and consider fixing now.
Home repossessions fall 24%
The Council of Mortgage Lenders has revealed that, at 36,300, the number of repossessions by first-charge mortgage lenders in 2010 accounted for just 0.3% of all mortgages.
The long distance mortgage race
"The last few weeks have unquestionably been a rollercoaster in the mortgage market. Lenders are looking to get just the right amount of business on their books before removing their market-leading mortgages from the market.
Santander mortgages launches new large loan option
From Friday 4 February, Santander, the ‘Home of UK Mortgages' is launching a new large loan option for customers seeking to beat the new 5 per cent Stamp Duty rate (up from 4%) on properties that exceed £1m which is effective from 6th April 2011.
Mortgages - See but don’t touch
Two years ago the number of prime residential mortgage products fell to an all time low of 1,097. Today, the number of mortgages available has more than doubled to 2,447.
Brokers buoyed by boost in mortgage business
A boost in lending and access to products has led to an improvement in intermediary confidence for 2011, following an eventful 2010.
Conveyancing Alliance continues to offer ‘Rapid Remortgage’
Conveyancing Alliance, the online conveyancing distributor, has announced it is to continue offering its special remortgage deal, the ‘Rapid Remortgage’.
Institutions take the place of mortgage lenders
Mill Group, a specialist property and finance group with close to £1bn of assets under management, is looking to raise at least £100million with the launch of the UK’s first property investment fund that will offer investors the opportunity to invest in residential property by financing first time home buyers (FTBs) and removing their need for a mortgage.
N&P increases LTV on selected 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 increasing the loan to value (LTV) on a number of discounted rate mortgages to 85%.