Mortgage News
Repossession figures grim reading, says Teather
Commenting on today's report from the Council of Mortgage Lenders which shows that quarterly repossessions in Britain are up 50% in a year, Liberal Democrat Shadow Housing Minister, Sarah Teather said: "These figures make for grim reading.
Repossessions levels held stable by responsible lenders
Figures published by the Finance & Leasing Association demonstrate the success of measures taken by second charge lenders to avoid repossession.
Mortgage repossessions increase
There were 12,800 repossessions by first-charge mortgage lenders (including buy-to-let) in the first quarter of this year, according to the Council of Mortgage Lenders.
Housing market is polarised
Ben Thompson, Director of Mortgages at Legal & General comments on the CML figures: "The housing market is now polarised according to the size of your deposit. Those with substantial deposits get a much better deal and therefore lower monthly repayments. Those who don't, end up paying a lot more.
Lowest mortgage costs since 2004, says CML
While borrowers still need large deposits to be able to enter the market, and overall lending remains constrained, both first-time buyers and home movers are benefiting from the lowest debt servicing costs since 2004, according to the latest monthly lending survey from the Council of Mortgage Lenders.
AMI: Blame culture will not get us out of mortgage crisis
Robert Sinclair, Director of the Association of Mortgage Intermediaries, has responded to yesterday's Financial Services Authority (FSA) mortgage conference.
No deposit, no chance
New figures from moneysupermarket.com reveal the extent of the disparity between supply and demand of mortgages at a high loan to value (LTV).
Legal & General: RICS' April housing survey
Ben Thompson, Mortgages Director at Legal & General asks if we are heading to the ‘trough' soon: "There is evidence that first-time buyers are increasingly interested in getting on the ladder, but this will not translate into actual sales whilst this group believes that prices have further to fall.
Mortgage rates following base rate announcement
Richard Mason, Managing Director at Moneyextra.com shares his opinion on the mortgage rates of lenders following today's base rate announcement: "The Bank of England's base rate has been kept to a staggeringly-low 0.5 per cent for the second month running, indicating how serious the chief economists are about getting our economy back on track.
Month two of bank rate stability at 0.5%
"Today's decision by the MPC to leave Bank Rate unchanged for the second month running is likely to be the precursor for several more months of the same, with the committee's focus being switched from Bank Rate to how aggressively to implement the Quantitative Easing programme.
Confidence returning to the mortgage broker market
Signs of confidence returning to the mortgage intermediary market have emerged with brokers stating they expect to do more mortgage business for the first time in over a year, Paragon Mortgages research has shown.
Take your pick on a mortgage, if you have a 40% deposit
The number of new mortgages requiring a minimum of 40 per cent deposit has increased by 61 per cent in the last six months.
Competition hots up in the mortgage market
"Two Swallows do not make a summer", said Louise Cuming, head of mortgages at moneysupermarket.com, "but it is very encouraging to see two lenders reducing the cost of borrowing and making those deals available at higher loan to values.
Fee free mortgage offer from Yorkshire Bank
Yorkshire Bank has announced a boost for homeowners with the launch of a fee free mortgage offer.
RICS: Bank of England March mortgage approval data
Simon Rubinsohn, RICS chief economist said: "Further evidence that activity in the housing market is continuing to pick-up, albeit from abysmally low levels, was provided today by the latest Bank of England mortgage approvals data.