Mortgage News
Gross mortgage lending up 15% in June
Gross mortgage lending in June was an estimated £13.1 billion, a 15% increase from £11.4 billion in May and a 7% increase from £12.2 billion in June last year, according to new data from the Council of Mortgage Lenders.
Majority of borrowers on lenders SVR free to switch
The number of mortgage borrowers now on their respective lenders' SVRs (Standard Variable Rates) is over 2.3 million, representing 28% of the total mortgage market, according to research by Yorkshire Building Society.
Debt charity welcomes increased protection for homebuyers
Consumer Credit Counselling Service (CCCS) welcomes the ban on self-certified mortgages that has been proposed today (July 13) by the Financial Services Authority (FSA).
FSA proposes new mortgage rules
The Financial Services Authority (FSA) has outlined proposals to ensure all mortgages are carefully assessed to make sure borrowers can afford them.
The Co-op boosts mortgage options with 'mix and match'
The Co-operative Bank and Britannia have enhanced the flexibility of its mortgage range by allowing customers to ‘mix and match' mortgage deals for only a single application fee.
Lloyds TSB offers helping hand to homemovers
Homeowners looking to move up the housing ladder have been handed a boost from Lloyds TSB. Its popular Lend a Hand proposition is being extended to homemovers from today, 7 July.
Discount mortgages fall by 72 per cent
Analysis by independent financial research company Defaqto has revealed that while there are now 33% more fixed rate mortgages and 36% more tracker mortgages available than there were 3 years ago, the number of discounted rate mortgage products available has fallen by an astonishing 72%.
First time buyers get helping hand from Yorkshire
Yorkshire Building Society has come to the rescue of first time buyers by announcing a decision to lend up to 90% of a property's value.
Competitive mortgage rates from RBS & NatWest
NatWest and RBS have launched four new competitive mortgage deals. These new fixed and tracker rates are available to new customers up to 60% loan to value, for both purchase and remortgage.
first direct mortgage rates cut
Cuts are the order of the day and in a bid to step up competition in the mortgage market and help homeowners, first direct has reduced the rate on five of its popular mortgage products as part of its Summer Sale.
Abbey Grand Prix Podium Special mortgage
From Friday 2 July 2010, Abbey for Intermediaries is offering homeowners the opportunity to qualify for its new Grand Prix Podium Special mortgage. The three year tracker is available to all customers at a rate of 3.21 per cent; 75 per cent LTV and no fee.
Nationwide mortgage rates cut for house purchasers
With effect from Thursday 1 July 2010, Nationwide will reduce selected rates on its mortgages deals for those buying a home. The reductions range between 0.09% and 0.29% points, with the average cut being 0.19%.
Mortgage lending by mutuals picks up in May
Gross mortgage lending by mutual lenders in May was £1,508 million, 8% greater than the £1,399 million lent in April, according to the Buildings Societies Association (BSA).
Leeds launch new shared ownership mortgage
Leeds Building Society has launched a new shared ownership mortgage product, which has been designed to help first time buyers onto the housing ladder, with a competitive fixed rate for shared ownership of only 6.99%.
Woolwich cuts mortgage rates
Barclays is reducing rates on its Woolwich mortgages by up to 0.70 per cent from Wednesday 23 June, further enhancing its commitment to higher loan to value borrowing.