Mortgage News
LV= enhances lifetime mortgage products
Retirement specialist LV= has further enhanced its range of lifetime mortgage products by adopting an age-banded system to calculate interest rates.
Interest payments consumed less income in November
Mortgage interest payments are consuming less of borrowers' incomes as those able to get a mortgage are stretching themselves less financially and beginning to benefit from reductions in bank rate, according to new data from the Council of Mortgage Lenders.
Struggling borrowers must contact their lender urges BSA
The Building Societies Association supports the Government's overall objective in helping support homeowners facing financial difficulties via the proposed Homeowner Mortgage Support Scheme.
CML: Government Home-Owner Mortgage Support Scheme
The Council of Mortgage Lenders has today responded to the government's consultation on the proposed home-owner mortgage support scheme.
Just Retirement predicts increase in demand for equity release
Just Retirement believes that the effects of recession will lead to increased interest in equity release as those close to pension age seek alternative funding to secure their retirement.
HSBC introduces its lowest mortgage rate ever
HSBC's new range of mortgages feature its lowest ever interest rate - 2.99 per cent on a Premier 2-year discount - and Trackers that are available to borrowers with a 25 per cent deposit.
£1.18bn of equity released by retirees in 2008
Looking back over a turbulent 2008 it appears the equity release sector has not escaped unscathed. The 2008 UK Equity Release Market Monitor released from Key Retirement Solutions, the leading independent specialist adviser shows that the number of equity release plans taken out by retirees decreased by 14% from 2007 to 2008.
New mortgage rates from Lloyds TSB and C&G
Lloyds TSB and Cheltenham & Gloucester will cut new mortgage rates next week following yesterday's Bank of England base rate reduction.
A&L launches intermediary exclusive remortgage deals
Alliance & Leicester is announcing the launch of exclusive remortgage deals with three of its key intermediary partners which highlight the bank's commitment to the market and its desire to increase volume in 2009.
Halifax mortgage rate decision
Following the decision by the Monetary Policy Committee to reduce the Bank of England Bank Rate by 0.50% to 1.50%, Halifax announces it will pass the full 0.50% reduction on to existing tracker mortgage customers from 1st February 2009. Halifax will also reduce its SVR from 4.75% to 4.50% at the same time.
Nationwide passes on mortgage rate cut in full
Following the decision by the Monetary Policy Committee (MPC) to cut the Bank of England Base Rate, Nationwide Building Society announces that it will decrease its Base Mortgage Rate (BMR) from 4.00% to 3.50% from 1 February 2009.
HSBC passes on UK base rate cut in full
HSBC will pass on today's cut in the Bank of England Base rate to all mortgage and commercial borrowers.
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.
Equity release makes sense for many in current economic climate
Sharon Bratley, Chartered Financial Planner at Fairinvestment.co.uk, comments on the Safe Home Income Plans (SHIP) members' survey that reveals that the equity release market is expected to grow by £200million in 2009, reaching £1.4billion by the end of the year and £1.7billion by the end of 2010.
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.