Mortgage News
Moneyextra.com comments on Turner report
Richard Mason, Managing Director at Moneyextra.com comments on the proposal in the Turner report to debate the future of regulation in the mortgage market.
Mortgage product regulation could be a backward step
Andrew Hagger of Moneynet.co.uk comments on the possible future introduction of product regulation: In its assessment of whether to introduce maximum loan-to value ratios or loan to income ratios, the FSA needs to consider the impact of such capping.
moneysupermarket.com comments on Turner report
Commenting on today's news that the FSA is considering whether to regulate mortgage products and will publish a paper in September, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Over the past few months consumers have seen a number of high street providers of mortgages, savings and other products either disappear, be taken over, or be nationalised.
FSA mortgage lending data
Richard Mason, Managing Director from independent financial website Moneyextra.com comments on the recent FSA mortgage lending data: "The increase in mortgage arrears by 31 per cent is of no surprise, and was expected after the government's intervention last year which saw lenders delay taking action against customers that fell into arrears for six months.
FSA plan to limit mortgage lending will hurt first time buyers
Commenting on the news that the FSA is tomorrow likely to announce a limitation on mortgage lending of more than three times a borrower's income, Ray Boulger of leading UK mortgage broker John Charcol said, "The Government has said that it wants to help first time buyers.
Nationwide announces new mortgage deals
Nationwide Building Society has announced that, with effect from 18 March 2009, it is launching a new product range.
First Time Buyers miss out on £147 per month towards first home
First time buyers (FTBs) could save £1,799 a year to put towards a deposit by simply spring cleaning their finances according to Halifax, the UK's leading provider of mortgages to FTBs.
moneysupermarket.com: CML January mortgage lending figures
Commenting on CML figures demonstrating the increasing decline of mortgage lending in January, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Mortgage lending is at its lowest ebb for over 35 years.
RICS: CML January mortgage lending
Commenting on the RICS CML mortgage lending data, Simon Rubinsohn, RICS chief economist said: "The drop in new home loans highlighted in the CML data clearly demonstrates the fundamental problem in the mortgage market at the present time.
AMI calls for more customer help in the mortgage market
The Association of Mortgage Intermediaries (AMI) has called on the Government to use the 2009 Budget to introduce measures that will help borrowers and intermediaries, and develop a stronger mortgage market.
Mortgage lending declines further in January
Mortgage lending activity continued to reduce in January with only 23,400 loans for house purchase completed, down from 32,400 in December and 48,600 in January 2008, according to new data from the Council of Mortgage Lenders.
Legal & General network retains Mortgage Talk
Mortgage Talk has signed a new five-year contract to be an appointed representative of Legal & General Partnership Services Ltd (LGPSL), the mortgage network.
RBS £1.7bn mortgage promise
Commenting on the RBS’s £1.7bn mortgage promise, Richard Mason, Managing Director at Moneyextra.com said: "£1.7bn will certainly provide the Scottish economy a much needed boost by breathing new life into the housing market, however I would urge RBS to avoid bowing to Government pressure to lend.
The uses of equity release throughout the UK
Key Retirement Solutions has released analysis of the equity release market in the UK. The analysis for the first time looks at usage trends throughout the UK based on region, property value and age.
Navigating the mortgage minefield
Fees are increasingly muddying the already confusing world of mortgages for consumers. While a poster in a bank window showing a rate of 3.5 per cent looks spectacular, you can potentially be better off plumping for a mortgage of up to 4.5 per cent - depending on the fees involved and the size of your mortgage.