Mortgage News
Borrowers in arrears to get more protection
The Financial Services Authority (FSA) has set out a package of measures that will help to ensure that mortgage holders in arrears are treated fairly and which reinforces the FSA's tough stance in its battle against mortgage fraud.
Paragon Investment Properties goes global
Paragon Investment Properties, an investment property specialist dealing typically with UK and overseas residential and commercial opportunities, has set up a new division devoted to handling larger or bulk deals in both the residential and commercial sector, commodities and private funding.
Standard variable rate – winners and losers
Base rate has been at an all time low of 0.50% for the last ten months and with no incentive to move on to a new deal, increasing numbers of borrowers have moved onto their lenders' standard variable rate (SVR).
Northern Rock launches ‘Everyday’ mortgage deals
Northern Rock has introduced a new range of ‘Everyday’ mortgages, which will be available from Monday (25 January 2010).
Demand for tracker deals fall as remortgagers look to fix
Over 880,000 UK homeowners on tracker or fixed rate mortgages, could be looking to remortgage in the next six months, according to Santander Mortgage's Remo Index, which monitors remortgaging trends on a monthly basis.
Post Office cuts mortgage rates
The Post Office has cut the introductory rates across its range of mortgages for both fixed rate and tracker products, with immediate effect.
CCCS launches Equity Release to help older debtors
Older debtors can now receive direct help from the Consumer Credit Counselling Service (CCCS), the UK's leading debt charity, which is launching a new subsidiary offering equity release without fees to clients in need.
Skipton increases mortgage Standard Variable Rate
It is responding to the exceptional market conditions that have seen the Bank of England base rate remain at an historic, 315 year low of 0.5% since March 2009 and unusually expensive retail funding (relative to mortgage rates) driven by unprecedented competition and distorted markets.
Gross mortgage lending up 14% in December
Gross mortgage lending reached an estimated £13.7 billion in December, a 14% rise from £12.1 billion in November and up 3% on December 2008, according to the Council of Mortgage Lenders.
Santander launches no balance transfer fee offer
Santander has announced the latest initiative to reward existing customers, following the launch of the Zero Current Account and the announcement that adult bank account customers will now benefit from fee free cash withdrawals from all of Santander's 4,300 ATMs in Spain.
Number of mortgage products increases
A mortgage milestone was passed last week when the number of mortgage products available surpassed 2,500 for the first time since May last year.
Mortgage borrowers get cheaper rates at expense of savers
In the last few months, lenders have reduced mortgage rates. However, while borrowers benefit, savers are losing out as providers cut the savings rates they are offering in order to maintain their balance sheets.
Yorkshire mortgages with free home insurance
Yorkshire Bank is offering 1 year's free buildings and contents insurance worth up to £1,000 to remortgage customers and home-movers from Monday (18th January 2010).
Clydesdale mortgages with free home insurance
Clydesdale Bank is offering 1 year's free buildings and contents insurance worth up to £1,000 to remortgage customers and home-movers from Monday (18th January 2010).
Coventry reduces mortgage rates by up to 0.54%
Coventry Building Society has cut mortgage rates by up to 0.54% across its Residential mortgage portfolio and reduced the deposit required for its very competitively priced fixed rate, base rate tracker and Flexx for Term deals.