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Mortgage News

Half of homeowners are not concerned by looming interest rate rises

With a consensus that the first Bank of England base rate rise since July 2007 is drawing ever closer on the horizon, a recent Halifax survey has found that around half (51%) of UK homeowners are unconcerned about a rate rise and the impact that it could have on their monthly mortgage repayments over the next 12 months.

Gross mortgage lending continues to grow in July

The Council of Mortgage Lenders estimates that gross mortgage lending reached £19.1 billion in July.

First time buyers and homemovers get interest paid back from Halifax

Halifax is offering to refund 2 months’ interest on mortgages for homemovers and first time buyers, as part of its latest offer for mortgage customers.

Almost half of aspiring homeowners are mystified by new mortgage rules

Only half (51%) of aspiring homeowners are aware of the Mortgage Market Review (MMR), according to research by TSB.

Mortgage arrears and possessions decline again

Mortgage arrears and possessions continued to fall in the second quarter of 2014, according to data by the Council of Mortgage Lenders.

House purchase lending growth remains steady in second quarter

New CML data on the characteristics of lending in June show that it remains driven primarily by lending for house purchase, rather than remortgage.

Half of mortgage borrowers say they are likely to struggle if interest rates rise by 3%

With the Governor of the Bank of England Mark Carney recently suggesting that interest rates could start to rise over the next few months, half of mortgage borrowers (46%) admit they would either definitely or potentially struggle if the interest rate on their home loan went up by 3%.

Lloyds offers cashback deals for remortgage customers and first time buyers

From the 1st August, Lloyds Bank will launch new offers for remortgage customers and first time buyers.

Beware of the high mortgage fees masked by low headline rates

Borrowers are being warned against choosing a mortgage based on the ‘headline’ interest rate alone, as analysis from MoneySuperMarket shows that the true costs of the lowest-rate deals are more expensive than on some higher-rate products.

Pace of lending growth slowed in June

The Council of Mortgage Lenders estimates that gross mortgage lending reached £17.5 billion in June.

Scottish Widows Bank reduces mortgage rates

Scottish Widows Bank (SWB) has reduced the rates on a on a selection of 2 and 3 year Professional and Flexible mortgages across its mortgage range.

Parents 'go dutch' on their children's deposit

The Bank of Mum and Dad is continuing to play an important role in their offspring’s first property purchase with current homeowners having received, on average, half of their deposit (49 per cent) from their parents or their partner’s parents.

Help to Buy mortgage guarantee loans - new lending limits

Government announces no new loans at or above 4.5 times borrowers’ income can be included in the Help to Buy mortgage guarantee scheme.

Later-life parents shouldering greater debt burden

The trend for second marriages and having children later in life is continuing to impact the debt people are carrying as they get older.

5-year mortgages a popular choice for homebuyers

Over two-thirds (62%) of the 573,866 fixed rate mortgage loans in 2013 were for two year deals. Whilst still making up the majority of mortgages, this proportion has changed from 2008 (68%).