Mortgage News
More mortgage cuts from Britannia
Following last week's reductions to some of its mortgage products, Britannia has now reduced the rest of its mortgage range.
Consider equity release
Equity release may be a feasible option for some pensioners struggling at this time of financial crisis, says banking expert David Black.
Key Retirement Solutions: Which? equity release report
Dean Mirfin, Business Development Director of independent equity release specialist Key Retirement Solutions, comments on the statement from consumer group Which? Issued this week on equity release.
John Charcol signs sole-tie agreement with Legal & General
Legal & General has partnered with John Charcol for a sole-tie distribution agreement to provide Protection and MPPI products.
Mortgage rates set to climb
It has taken six months for the interest rate that banks pay to borrow from each other to fall from 6% to 5.7%. But following the recent turmoil in financial markets, it has taken less than a week for those costs to be completely reversed. In just four days, the London Interbank Offered Rate (LIBOR) has climbed back above 6%.
Small deposit expensive choice
Darren Cook, mortgage expert at Moneyfacts.co.uk, comments: "Borrowers with a deposit of 10% or less have seen the number of mortgages available to them drop by 45% in just one year.
Charcol ‘Drop-lock' gives borrowers the best of both worlds
"Anyone trying to choose a mortgage at the moment may well feel like their head is spinning, with rates yo-yoing and even the experts finding it hard to predict what news the next days and weeks might bring.
UK mortgage approvals plummet
In August, net mortgage lending rose only by £2.1 billion; less than half the average rise over the previous six months, according to the British Bankers’ Association (BBA).
Saga: Which? report on equity release
Alex Edmans, Saga, responds to Which? Magazine report on equity release: "Saga welcomes the comments from Which? Magazine, which highlight the need to seek proper financial advice before committing to equity release.
Mortgages and increase in Libor rates
Commenting on the implications for mortgages with the rise of Libor rates, Louise Cuming, head of mortgages at price comparison site moneysupermarket.com, said: "The ominous move of Libor rates, up in the past week by around 0.3 per cent, can only mean one thing; mortgage rate increases are on the way.
Equity release is not a product of last resort
Andrea Rozario, Director General of Safe Home Income Plans (SHIP), the trade body for equity release, responds to the Which? guide: "It seems to me that Which? has a very outdated view on equity release and has not taken into consideration the market advancements of the past decade, let alone the last twelve months.
Equity release a last resort for elderly homeowners
Pensioners struggling to make ends meet should only turn to equity release if there is no other option, warns 'Care Options in Retirement', a new Which? essential guide.
Preventing intermediary lenders SLS access is madness, says IMLA
Peter Williams, executive director of IMLA, responds to the Bank of England's decision to extend the term of its Special Liquidity Scheme: "While the Bank's decision to extend the SLS term for most lenders is to be welcomed, this move does little to improve the current state of liquidity in the mortgage market.
Endowment providers slash final bonuses
Three leading mortgage endowment providers have cut their bonuses by up to 10 per cent in just six months.
UCB launches new buy to let and self certification mortgages
UCB Home Loans has launched a new range of buy to let and self certification products with rates starting from 5.54%.