Mortgage News
Base Rate held for longest time since WWII
The Bank of England's Monetary Policy Committee held Base Rate at 0.5 per cent today, marking 19 months of no change - the longest period the Base Rate has remained constant since World War II.
Bank rate unchanged for longest time since Second World War
Ray Boulger of leading independent mortgage adviser John Charcol comments on the news that the Monetary Policy Committee (MPC) has left Bank Rate unchanged for the 19th consecutive month and is also leaving its Quantitative Easing programme unchanged at £200bn.
Barclays mortgage lending hits £100bn
As the fastest growing mortgage lender in the UK, mortgage lending at Barclays has hit the milestone of £100bn.
Consumer confidence sees purchases go into reverse
The latest mortgage index from John Charcol reveals that the proportion of mortgage purchases fell dramatically in September. Drew Wotherspoon, director of marketing at John Charcol, comments on this and other findings.
HSBC cuts mortgage rates
HSBC has this week reduced the rates on all its 80 per cent LTV mortgage products in a move to further help homeowners. All the mortgage products, which require only a 20 per cent deposit, have been cut by 0.4 per cent with booking fees remaining at £399 or less.
New best buy mortgages from N&P
N&P (Norwich and Peterborough Building Society) is introducing two new ‘best buy' discounted mortgages - 2.95% for two years at 85% loan to value (LTV) and 3.95% for five years at 80% LTV - with immediate effect.
New mortgage rates from NatWest & RBS
From Tuesday 5 October, NatWest and RBS will launch new mortgage rates, which include a competitive fee free 2.75% remortgage deal with a 50% loan to value and £250 cash back. In addition, a telephony only mortgage up to 60% loan-to-value will also be launched.
Halifax offers customers a housewarming present
As dark nights set in and the UK collectively switches on the central heating marking the arrival of autumn, Halifax, the UK's largest mortgage lender, offers all new mortgage customers a house-warming present to help keep the winter chill from the door.
Post Office launches new tracker mortgage deals
As part of its ongoing commitment to becoming one of the UK's leading mortgage lenders, the Post Office has expanded its range further with the addition of two year trackers, fee-saver deals, and market leading two year fixed rates for buy to let.
Right-to-Buy sales fall to record low
Sales of properties under the Right-to-Buy scheme, the reason for the biggest increase in home ownership in the last 50 years, have fallen to a new record low, according to the latest research by HSBC, the UK's largest direct mortgage lender.
CML urges Government not to cut ISMI further
With a 40% cut in the rate at which borrowers receive income support to cover their mortgage payments due to come into effect today (1 October), the CML is urging the government to resist further cuts to this benefit in its forthcoming comprehensive spending review and, in particular, to maintain the 13-week qualifying period for payments.
Santander cuts mortgage rates
From Friday 1 October 2010, borrowers will be able to benefit from further reductions to Santander's mortgage rates. In particular, five-year fixed products, available to all purchasers, are reducing by up to 0.26 per cent.
The Mortgage Works enhances its product range
The Mortgage Works (TMW) is reinforcing its support for brokers and their clients by improving its Buy to Let and Residential Prime range.
Mortgage lending holds steady at mutuals
Gross mortgage lending by mutuals was £2.0 billion in August, which is unchanged from the £2.0 billion lent in July. Mortgage approvals made in August amounted to £1.8 billion, slightly lower than the £1.9 billion in July, according to the Building Societies Association (BSA).
Paragon returns to new mortgage lending
The Paragon Group of Companies is delivering on its commitment to return to new lending and aims to expand choice and competition for professional landlords in the buy-to-let mortgage sector.