Mortgage News

Email Mortgages asks ‘Who’s buying the best buys?

Email Mortgages has called for an end to the ‘Mortgage Best Buy’ tables that are currently published throughout the industry.

IMLA criticises government for glossing over HMSS details again

Following the arrears and possessions figures from the CML, Peter Williams, executive director of IMLA, commented: "The government has today published the final scheme details for the Homeowner mortgage support scheme.

Repossessions on the up

Commenting on the 54 per cent increase in repossessions last year, Louise Cuming, head of mortgages at moneysupermarket.com, said: "The fact that 40,000 properties were repossessed last year shows what a catastrophic effect the current economic crisis is having on people's lives ... and worse is to come.

UK mortgage arrears rising fast but lower than early 1990s

Simon Ward, economist at New Star: The Council of Mortgage Lenders (CML) today reported a rise in the number of mortgages more than three months in arrears from 167,000 in September to 219,000 in December.

We need mortgage innovation - not white-labels of previous ideas

Commenting on the LibDem call for a five-year no-frills mortgage, Louise Cuming, head of mortgages at moneysupermarket.com, said: "While it's heartening to hear of proposals aimed at getting the mortgage market moving - sadly, this isn't even close to a solution.

Home repossessions rise sharply

Around 10,400 properties were taken into possession by first charge mortgage lenders in the fourth quarter of 2008, down from 11,100 in the previous quarter but up from 6,900 in the fourth quarter of 2007, according to the Council of Mortgage Lenders.

Mortgage lending falls in January

Gross mortgage lending declined to an estimated £12.4 billion in January, an 8% fall from £13.5 billion in December and a 52% fall from January 2008, according to the Council of Mortgage Lenders. A slight decline is typically experienced between December and January.

Credit Issues launches specialist legal department

Credit Issues has launched a specialist legal department handling cases on behalf of property developers and professional landlords against bridging/property finance firms who substantially inflate the size of the debt by increasing the redemption fee and doubling the monthly interest charge when the borrower falls into default.

No one will lend to us - or will they?!

Many of Britain's would-be borrowers may wrongly assume they are excluded from the mortgage market by the extent of lenders' tougher criteria, according to research by professional advice website Unbiased.co.uk.

Yorkshire Bank extends fee free mortgage offer

Yorkshire Bank has extended its fee free mortgage offer until Friday 27th February 2009. The Bank is waiving arrangement fees for new customers looking to re-mortgage on a range of its fixed rate, offset and flexible payment mortgages for a limited time.

Clydesdale Bank extends fee free mortgage offer

Clydesdale Bank has extended its fee free mortgage offer until Friday 27th February 2009. The Bank is waiving arrangement fees for new customers looking to re-mortgage on a range of its fixed rate, offset and flexible payment mortgages for a limited time.