Mortgage News
Get the best deal in the low rate mortgage environment
The average mortgage rate for new borrowers has fallen 1.3 per cent over the past 12 months to 5.12 per cent, but in this low rate environment does this constitute a good deal for consumers?
Mortgage approvals and house prices both rise in July
Data released this month by The Royal Institute of Chartered Surveyors and the property specialists Rightmove.co .uk showed upward movements in both the number of home loan approvals and the prices of property put on the market
Mortgage borrowers stay on lenders standard variable rate
Almost a third (27%) of homeowners are now staying on their lender's standard variable rate (SVR) according to new research from Unbiased.co.uk, the professional advice website.
New Flexx mortgage deals from The Coventry
The Coventry is refreshing its mortgage range including launching two new competitive Flexx mortgages for the residential market - combining a range of flexible features with low fees and an attractive rate of interest.
UK repossessions fall
The number of mortgage repossessions fell in the second quarter of the year, while cases of arrears levelled off, according to the Council of Mortgage Lenders (CML).
Scots not benefiting from positive impact of economic downturn
New research from Clydesdale Bank has revealed that 1 in every 16 people in the UK has benefited positively from the current economic downturn. However, the figures for Scotland are significantly lower with only 1 in 50.
3.5 million households stuck and unable to move
Analysis from leading UK mortgage broker John Charcol has found that as many as 3.5 million UK households, a third of all those with a residential mortgage, are currently unable to move due to a lack of equity in their property and/or restrictions on access to mortgage finance.
'Disgraceful' arrears charges show no sign of abating
Commenting on the growing concern over mortgage arrears charges, Hannah Skenfield, mortgage channel manager at moneysupermarket.com, said: "It's outrageous that borrowers who are already struggling and who have fallen behind with their mortgage repayments are being hit with such high fees.
Mortgage borrowers opt to fix
The proportion of borrowers opting for fixed rate mortgages has hit record levels according to a Paragon Mortgages' survey of mortgage intermediaries.
Mortgage market stabilising but not yet normal
New data from the Council of Mortgage Lenders shows further signs of stabilisation in the mortgage market, but transactions are still weak on a historic basis. Lending for house purchase and remortgaging both increased in June, albeit from very low levels.
Re-mortgage enquiries jump in June
New figures from Unbiased.co.uk, the professional advice website, reveal that those looking for advice on re-mortgaging increased to a third (33%) of all consumer requests in June.
MPC springs a surprise on quantitative easing
Ray Boulger of leading UK mortgage broker John Charcol comments on the news that the Monetary Policy Committee has left Bank Rate unchanged this month at 0.5% and surprised the markets by increasing the Quantitative Easing (QE) programme by £50bn.
Mortgage borrowers opt for trackers and discounts
Following a bumper month in June, when more than 75% of applicants bolted down to fixed mortgage rates, savvy borrowers opted instead for trackers in July, and fixed rate applications accounted for an unusually low 63% of applications.
Nationwide cuts mortgage rates
Nationwide Building Society has announced that it is cutting the price of many of its fixed and tracker rate mortgages by up to 0.50%.
Nationwide plans to cut rates on fixed and tracker mortgages
Commenting on Nationwide's announced plans to cut the rates on 44 fixed and tracker rate mortgage products, Louise Cuming head of mortgages at moneysupermarket.com, said: "Any move to cut rates should be seen as a positive step and it is good to see Nationwide raising the competitive stakes.