Mortgage News
HSBC maintains standard variable rate at 6.25%
HSBC Bank plc has announced it is to maintain its market leading ‘HSBC variable mortgage rate' at 6.25%.
Equity release allows over 65's to remain in their homes
SHIP (Safe Home Income Plans) - the body championing high standards of delivery from UK equity release providers - reveals that although the cost of care is soaring, there is a solution for older homeowners.
Brokers expectations for future business improve slightly
Intermediaries' forecasts of future business volumes are slightly more positive than in May or July this year, but their overall level of confidence continues to be fragile, according to latest research collected by the Intermediary Mortgages Lenders Association.
Lenders pile the pressure on customers in arrears
Commenting on the Citizen Advice figures showing more people are seeking advice on how to manage mortgage arrears, Louise Cuming head of mortgages at moneysupermarket.com, said: "Given the dire state of the economy and the fact many more people are under financial pressure, providers should cut arrears fees if they want to prove a real commitment to supporting borrowers.
Mixed outlook for the mortgage market
Darren Cook, mortgage expert at Moneyfacts.co.uk, comments: "Amid continued turmoil within the financial markets, mortgage providers are continuing to withdraw their higher loan to value products from the market.
Heath Lambert and Diabetes UK enters equity release market
Key Retirement Solutions, the UK's leading independent equity release adviser, Heath Lambert Group, the UK's leading independent insurance broker and employee benefits consultant, and Diabetes UK, the largest organisation in the UK supporting those living with diabetes, announce an equity release partnership.
RBS and NatWest pass on full interest rate cut
RBS and NatWest have announced that its Standard Variable Rate mortgages will be cut by 0.50 per cent from 7.19 per cent to 6.69 per cent.
The start of things to come
"The 0.5% bank rate cut announced today was not a surprise but the timing was, as emergency cuts don't normally take place only one day before the next scheduled announcement.
Take advantage of interest rate cut
David Kuo, Head of Personal Finance at money website Fool.co.uk, says: "We welcome the Bank of England's timely cut in interest rates to help restore confidence in financial markets. The Monetary Policy Committee has rightly put its concerns over inflation on hold as it focuses on more important matters.
Barclays cuts mortgage rates following base rate cut
Woolwich is cutting its standard variable rate (SVR) by 0.5 per cent following the announcement today that the Bank of England base rate will fall by 0.5 per cent.
Changing mortgage margins
Last time the base rate was 4.50% was between 4th August 2005 and 2nd August 2006. Market conditions were clearly very different then but the margin charges on mortgages relative to the base rate reveal how times have changed.
moneysupermarket.com: Interest rates cut to 4.5%
Commenting on the surprise Bank of England cut interest rates from 5 per cent to 4.5 per cent, Louise Cuming head of mortgages at moneysupermarket.com, said: "This is welcome and decisive action, especially as it has taken the market by surprise.
Halifax to reduce standard variable rate
Following the special meeting today by the Monetary Policy Committee and its decision to make a 0.5% reduction in the Bank Base Rate, Halifax will be reducing its standard variable rate from 7.00% to 6.50%.
Lloyds TSB and C&G cut standard variable rate by full 0.5%
Following the announcement today by the Bank of England of a 0.5 per cent decrease in the Bank of England base rate, Lloyds TSB and Cheltenham & Gloucester will be reducing their standard variable mortgage rate (SVMR) from 7.0% to 6.5%.
CML welcomes interest rate cut
The Council of Mortgage Lenders welcomes the half-point cut in interest rates announced today by the Bank of England. CML director general Michael Coogan said: "Today's package of bank funding and capital measures is further strengthened by this rate cut.