Mortgage News
Building societies' net lending picks up in September
Net mortgage lending by building societies increased to £314 million in September, from -£37 million in August, but was still 47% lower than the figure for September last year, according to the Building Societies Association (BSA).
Mortgage approvals rise in September
The increase in total net lending to individuals in September (£2.4 billion) was above the increase in August, but below the previous six-month average, according to the Bank of England (BoE).
Legal & General mortgage network celebrates fourth birthday
Legal & General Partnership Services Ltd (LGPSL) will be four years old on 31 October, the anniversary of mortgage regulation.
Stick or twist - the first time buyer gamble
First time buyers who delay their decision to get on to the property ladder could find market conditions have moved in their favour, and not just because falling house prices mean they will need to borrow less money.
moneysupermarket.com: Mortgage deals pulled by lenders
Commenting on the number of mortgage products pulled by lenders in the last week (27/10/2008), Louise Cuming, head of mortgages at moneysupermarket.com said, "Last week was a grim one in the mortgage market with the number of deals available falling 23 per cent (in a week) from 4,930 to just 3,785.
Coventry to reduce mortgage rates
Coventry Building Society has announced that its Privilege rate, for borrowing members of five years or more, will reduce to 6.50%. The Society's Standard variable mortgage rate will reduce by 0.25% to 6.84%.
Skipton maintains Standard Variable Rate
Skipton Building Society has announced it is maintaining its Standard Variable Rate at 6.45%.
Tesco adds mortgage search to comparison service
Tescocompare.com has announced the launch of another non-insurance based comparison service, allowing consumers to search the whole of the market to compare mortgages.
RICS: BBA September mortgage approval figures
Commenting on the BBA mortgage approval figures, Simon Rubinsohn, RICS chief economist said: The annual fall in mortgage approvals demonstrates the continuing weakness of the housing market with the lack of mortgage liquidity continuing to restrict activity.
L&G Mortgage Club announces partnership with Money Portal
Legal & General has entered into a new partnership with the Money Portal (MP) to offer its independent financial advisers access to Legal & General's mortgage club.
Abbey comments on repossession rules
A spokesperson for Abbey Mortgages said: "Abbey has a lower level of mortgage arrears than the CML average due to its ongoing responsible approach to lending and the quality of its mortgage book.
Mortgage approvals remain low
In September, net mortgage lending rose by £3.6 billion; more than in August but below the average for the previous six months, according to the British Bankers’ Association (BBA).
Fairinvestment.co.uk launches free guides to equity release
As the UK heads towards a recession, stock markets are falling and dragging pension funds down with them. As a result many homeowners of retirement age may be considering raising cash in other ways.
Prime Minister's attempt to ease repossession rates
Commenting on the Prime Minister's attempt to ease repossession rates, Louise Cuming, head of mortgages at moneysupermarket.com, said: "While this is really nothing new, it is good to hear the Prime Minister reiterating the spirit of the FSA guidelines on repossessions.
CML issues new arrears guidance
The Council of Mortgage Lenders has published new industry guidance on mortgage arrears and possessions.