Mortgage News
Have I NOT got mortgage tips for you
While 62% of Britain's homeowners would normally feel comfortable offering mortgage tips to friends, family or colleagues, today's confusing lending market has sapped the confidence of more than a third (37%) of this group, according to research by Unbiased.co.uk.
It’s 6 in a row and more joy for millions of tracker holders
"Today's bank rate cut, to another historic low of 0.5%, will no doubt bring further exclamations of joy from the 3.5 million or so borrowers who have a tracker mortgage with no collar.
Abbey launches its lowest mortgage rate
On Friday 6 March, Abbey is launching its lowest mortgage rate for new customers. The limited offer 2.99 per cent 2-year fix at 60 per cent loan-to-value (LTV) is available to Abbey banking customers and has a £599 fee and maximum loan size of £200,000.
Nationwide to reduce Base Mortgage Rate
Following the decision by the Monetary Policy Committee (MPC) to cut the Bank of England Base Rate, Nationwide Building Society today announces that it will decrease its Base Mortgage Rate (BMR) from 3.00% to 2.50% from 1 April 2009.
Lloyds TSB and C&G cut mortgage rates
Lloyds TSB and Cheltenham & Gloucester will pass on today's base rate cut to existing variable and tracker customers, following the decision by the Bank of England to cut base rate by 0.5 per cent.
Council of Mortgage Lenders response to rate cut
Responding to the decision to reduce the Bank rate by 50 basis points to 0.5%, CML director general, Michael Coogan said: "This latest cut presents immense challenges for lenders whose margins are already squeezed as a result of previous reductions, leaving little scope to lower discretionary mortgage rates further.
Halifax Standard Variable Rate reduced by full 0.50%
Following today's decision by the Monetary Policy Committee to reduce the Bank of England Bank Rate by 0.50% to 0.50%, Halifax announces it will pass the full 0.50% reduction on to existing tracker mortgage customers from 1st April 2009. Halifax will also reduce its SVR from 4.00% to 3.50% at the same time.
Marked upturn in confidence amongst mortgage network advisers
Stephen Smith, Legal & General's Director of Housing said: "Business forecasts amongst our mortgage network advisers are looking up, with over half of them expecting business to get better over the next three months. This has doubled from just 27% who were positive before Christmas.
Nationwide announces new mortgage deals
Nationwide Building Society today announces that, with effect from 6 March 2009, its mortgage product range will include:
Lloyds TSB and C&G to pass on any rate cut
Lloyds TSB and Cheltenham & Gloucester will pass on any base rate cut to existing variable and tracker customers.
Skipton promises full SVR cut
In anticipation of a cut to the Bank of England's base rate this Thursday, Skipton Building Society has promised it will pass on any reduction in full.
moneysupermarket.com: January mortgage approvals
Commenting on mortgage approvals for house purchases staying at around 31,000 per month, Louise Cuming, head of mortgages at moneysupermarket.com, said: "If things stay as they are, we can expect to see 30 per cent fewer mortgages this year than in 2008 - down from 529,000 house purchases last year to around 372,000.
RICS: January Bank of England Mortgages Approvals data
Commenting on the Bank of England Mortgage Approvals data released today, RICS Chief Economist Simon Rubinsohn said; "Bank of England mortgage approvals data for January continues to highlight the urgent need for more funds to be injected into mortgage market.
How to beat the mortgage borrowing blues
Tips for potential first-time buyers from moneysupermarket.com's Louise Cuming: House prices have plummeted in the past year, making property more affordable. Yet getting a mortgage, if you are a first-time buyer, is arguably harder than ever.
Light at the end of the tunnel, says IMLA
75% of intermediary lenders think the securitisation and whole loan sale markets for prime mortgages will be back in action by 2011, according to IMLA's latest survey of its members.