Mortgage News

moneysupermarket.com: Mortgage rate changes

Commenting on the recent spate of mortgage rate changes, Louise Cuming, head of mortgages at moneysupermarket.com, said: "There has been a flurry of activity in the mortgage market, but unfortunately mostly to the detriment of borrowers.

First time buyers still not welcome

Since January 2007 the number of mortgage products available at 90 per cent loan to value (LTV) has fallen by 97 per cent. Figures from moneysupermarket.com show just 102 mortgage products are currently available at 90 per cent LTV compared to 3,148 such products two and a half years ago.

L&G Mortgage Club expands again with commercial loans

Legal & General Mortgage Club has expanded its commercial loans service to appointed representatives of the mortgage network (Legal & General Partnership Services Limited) and extended that service to directly authorised brokers.

Increased confidence amongst mortgage advisers

Stephen Smith, Legal & General's Director of Housing said: "Our mortgage advisers are having a better quarter because they haven't been this confident since we started the index at the beginning of last year.

Average mortgage rates in limbo after divorce from Libor

Despite the Base Rate continuing to hold at 0.5 per cent, providers are increasing average mortgage rates, and the margin above the Libor rate is rising, proving that the Bank of England is increasingly toothless when it comes to regulating the cost of mortgages, with lenders increasing profit margins at the expense of their customers.

Calls for further Government action to help first time buyers

The Bank of England has decided to keep interest rates at 0.5%. In response the Association of Mortgage Intermediaries (AMI) has called for further Government action to aid consumers.

moneysupermarket.com: HSBC Mortgage Rate Matcher

Commenting on the new HSBC Mortgage Rate Matcher, Louise Cuming, head of mortgages at moneysupermarket.com, said; "Again HSBC is leading from the front.

Over a million mortgage holders due to lose out

Banks are urged to stop profiteering - as they look to make an extra £20.1 million pounds per month from unsuspecting mortgage customers who are coming off fixed, discounted, tracker and capped rate deals and moving onto standard variable rates, according to Moneyextra.com.

This month Mervyn King achieves his aim of being boring

"Today's decision by the MPC to leave Bank Rate and the Quantitative Easing programme unchanged was widely expected but next month the committee will have to consider whether to utilise the final £25bn The Chancellor has authorised for Quantitative Easing", comments Ray Boulger of leading UK mortgage broker John Charcol.

HSBC'S ‘Rate Matcher' mortgage is back

From Monday 8 June 2009, HSBC is reintroducing its hugely successful Rate Matcher mortgage offer. HSBC is offering to match or beat existing mortgage rates as low as 2.49 per cent, and fix them for up to five years.

Brokers expect increase in FTB and home mover business

Brokers expect to handle slightly more business for first time buyers and home movers over the next two months - the first time they have forecasted positive growth since the question was first asked 18 months ago in the IMLA survey of mortgage intermediaries.

Mortgage lenders fail to pass on base rate cuts

Whilst the Bank of England has slashed interest rates by 4.5 percentage points since October, taking the base rate from 5.0 per cent to 0.5 per cent, mortgage lenders have failed to pass the cuts on in full to their existing customers, despite the Government urging them to do so.