Mortgage News

L&C customers save £5.9m in broker fees

L&C Mortgages has calculated that its commitment to no fee, whole of market broking saved its customers at least £5.9m in broker fees in 2008.

Lloyds TSB and C&G pledge to pass on base rate cut

Lloyds TSB and Cheltenham & Gloucester will pass on any base rate cut to existing variable and tracker customers.

Demand for equity release could grow as life expectancy increases

Life expectancy in the UK has increased by 26 per cent for men and 14 per cent for women in 20 years, making equity release a real option for homeowners of retirement age as pension pots continue to shrink.

RICS: Bank of England December mortgage approvals data

Data released from the Bank of England today show that mortgage approvals edged up in December but they still remain close to historic lows and are running at barely two-fifths of last years levels.

Mortgage lending remains low

Gross mortgage lending by building societies was £2,395 million in December, down on the £2,595 million seen in November while net receipts into building societies were £897 million in December, up from £636 million in November, according to the Building Societies Association (BSA).

Mortgage approvals rise in December

The increase in total net lending to individuals in December (£2.2 billion) was higher than the November increase, but below the previous six-month average, according to the Bank of England (BoE).

Struggling homeowners could save over £500 a month

UK homeowners could save over £330 million a month, by choosing to downsize their property, according to research from financial advice website Moneyextra.com. This is based on exclusive research which shows that 595,000 people are looking to downsize within the next six months.

Bestinvest: Avoid trackers and stick to fixed rate mortgages

Peter O’Donovan, Head of Mortgages at Bestinvest on why now is the time to fix your mortgage - whatever happens to the Base Rate: The most recent rate reduction has had a mixed reception from lenders.

To fix or float - a mortgage borrower’s dilemma

Picking the right time to switch from a ‘floating' mortgage rate (a tracker, SVR or rate linked to SVR) to a fixed rate has often been tricky, but as mortgage borrowers find themselves in increasingly unchartered territory, making the right choice about when to fix and how long for is even more challenging than ever.

First time buyers unsure of mortgage jargon

Two thirds of first time buyers cannot correctly identify the letters KFI with regards to mortgage advice.

AMI welcomes IMLA pledge to intermediaries

The Intermediary Mortgage Lenders Association (IMLA) has today made clear that lenders still see intermediaries as the primary route to market and that they are working hard to ensure sufficient funding is in place for the intermediary channel to flourish.