Mortgage News
New mortgages and rate cuts from Britannia and The Co-op
Britannia and The Co-operative Bank are again reducing mortgage rates by up to 0.25% and launching more new best-buy mortgage products from this Friday (16th April).
FSCS declares five mortgage advice firms in default
Consumers across the UK can now claim compensation if they have lost money as a result of their dealings with five mortgage advisors the Financial Services Compensation Scheme (FSCS) has declared in default.
More green shoots in the housing market
Data from moneysupermarket.com has revealed that activity in the mortgage market is steadily increasing across a variety of borrower profiles, meaning the spring home buying season has kicked off strongly and looks set to continue.
Chelsea offers fee-free mortgages
Chelsea Building Society has launched a distinctive range of mortgages for people who need to borrow up to 85% of the value of their homes - what's more there's no arrangement fee! First time buyers, who recently benefitted from the changes to Stamp Duty, can save even more by choosing Chelsea.
Mortgage market saw modest recovery in February
The number of loans advanced for house purchase increased by 12% in February, according to figures released by the Council of Mortgage Lenders.
Legal & General to offer ING Direct mortgages
Legal & General Network has agreed a pilot with ING Direct to distribute its range of mortgage products, initially to appointed representatives of the network. The product range includes fixed, tracker and standard variable rate mortgages.
Movement in mortgage market signals gentle recovery
Wales' largest building society, Principality, has reported a 187% increase in the number of borrowers taking out a mortgage in the first three months of this year, compared with the same period last year.
Confidence returning to overseas property market
There’s a growing feeling of confidence amongst prospective overseas property buyers, according to Conti, the overseas mortgage specialist. It’s just had its busiest month for almost a year in terms of mortgage ‘go aheads’, the point where prospective buyers take their mortgage quotes through to the application stage. These increased by 48 per cent during March, compared with the previous monthly average.
Stamp duty cut tempts first-time buyers out for Easter
Analysis from moneysupermarket.com has revealed that the Chancellor's Budget cornerstone - the abolition of stamp duty for anyone purchasing their first property under £250,000 - has provided a welcome kick start to the housing market, while the rest of the population have given the Chancellor's plans a big thumbs-up in principle.
The Mortgage Works improves range
The Mortgage Works (TMW) has announced a number of improvements to its range of mortgages as it continues its commitment to expanding and increasing competitive mortgage solutions for intermediaries.
YBS sees 400% increase in mortgage applications
Yorkshire Building Society has seen a 400% increase in mortgage applications during the first three months of 2010 compared to the last three months of 2009.
Revised Stamp Duty rules carry new burden for industry, says Quest
Following the 2010 Budget, Quest, the major technology provider in the survey and mortgage valuation market, has welcomed steps to support first-time buyers entering the property market with the relief from Stamp Duty Land Tax on purchases up to £250,000. However, Quest believes the new legislation also brings due-diligence issues between lenders and solicitors.
Record numbers on lenders standard variable rate
With the base rate remaining at 0.5% for a whole year, tracking data from Unbiased.co.uk, the professional advice website, highlights the increasing trend for homeowners to remain on their lender's standard variable rate (SVR) mortgage.
Mortgage lending in February grows
Gross mortgage lending in February increased to an estimated £9.2 billion, a 6% rise from £8.7 billion in January, according to the Council of Mortgage Lenders.
Is 2010 the year of the first-time buyer?
With increasing numbers of lenders now re-entering the high loan-to-value space for borrowers with smaller deposits, latest figures from unbiased.co.uk, the professional advice website, reveal 42% of enquiries for whole of market mortgage advice in February 2010 were from first time buyers looking to get their foot on the property ladder.