Mortgage News
Throwing good money after bad
Commenting on the expectation the Government will announce a £1bn boost for the housing market in tomorrow's budget, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Unfortunately this seems to be replaying a strategy that has not worked - billions of pounds have already been pumped into the housing market to little effect so why will this time be any different?
Banks offer mortgage support for homeowners
Customers of the UK's major mortgage lending banks will be able to get help if they face a temporary income shock under the new Homeowners Mortgage Support scheme which begins today.
Lloyds welcomes Homeowner Mortgage Support Scheme
Dan Watkins, managing director of mortgages, Lloyds Banking Group, said: "We will participate in the Homeowner Mortgage Support Scheme from today. We already do everything we can to help customers facing financial difficulty and this newest scheme will act as an extension to the broad assistance we offer customers who are struggling to pay their mortgage.
New homeowners mortgage support begins
New support to help homeowners remain in their homes if they fall on difficult times will be available from today, announced Housing Minister Margaret Beckett.
BSA: Homeowner Mortgage Support Scheme
Building societies have confirmed that they have signed up to a Customer Commitment for borrowers in financial difficulty.
Pensioners turn to equity release to repay mortgage debt
Research by Key Retirement Solutions, UK equity release specialist adviser, based on 3,826 people aged 65 or over who released equity from their home with Key Retirement Solutions in 2008, reveals that an increasing number of pensioners today have mortgages which continue well into their retirement.
Halifax offers unique council tax help to homemovers and FTBs
Halifax, the UK's largest mortgage lender, has announced the launch of a new offer available on all products for homemovers and first time buyers (FTBs). Designed to help with the costs of buying a new home, the unique offer will pay half of the first year's council tax bill, up to a maximum of £1,000.
Home affordability has improved significantly since mid 2007
The proportion of disposable earnings devoted to mortgage payments - a key affordability measure - has fallen significantly over the past 18 months, according to the Halifax Affordability Review.
Falling property prices dramatically hit equity release lending
Key Retirement Solutions' Equity Release Market Monitor for Quarter 1 of 2009 shows a dramatic decrease in the equity release market when compared to the same period of 2008.
moneysupermarket.com: Homeowners facing negative equity
Commenting on the CML figures showing two million households have either negative equity, or too little equity, to finance a house move, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Negative equity is a serious business, but unless you plan to move home in the very near future it is nothing to panic about.
First time buyers and remortgagers need a hefty 30% deposit
Moneyextra.com mortgage index reveals the average loan-to-value rates has hit a two year low, along with the actual number of mortgage loans available.
Mortgage rejections increase fourfold in two years
Mortgage declines have increased by nearly 400 per cent in the past two years, according to figures from moneysupermarket.com.
Housing equity through the downturn
At the depth of the last housing market recession in 1993, 1.5 million households or more were estimated to have negative equity.
Alliance & Leicester extends fee-free range
On Friday 17 April, Alliance & Leicester is extending its range of fee-free mortgages with the launch of 3 and 4-year fixed rate remortgage and homebuyer deals, which are available up to 75 per cent LTV through all channels.
New generation of Kidults living rent free in the UK
Research from Abbey Mortgages, reveals a new breed of 18-34 year olds who are living rent free with friends or family. The research reveals that there are over 1.6 million Kidults in this age group that currently rely on friends or family, reflecting the extent to which the credit crunch has impacted on people's finances.