Mortgage News
moneysupermarket.com comments on HBOS and Lloyds TSB
Commenting on the effect a merger between HBOS and Lloyds TSB would have on the mortgage market, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Between the two giants of British Banking they control six major mortgage brands -
Standard Life Bank cuts Freestyle mortgage rates and fees
Standard Life Bank has announced further rate and fee cuts across several of its Freestyle flexible mortgage product ranges.
Mortgage lending declines in August
Gross lending totalled an estimated £21.8 billion in August, a 12% fall from July and a 36% fall from August 2007, according to the Council of Mortgage Lenders.
It's win / win with Britannia
Britannia has reduced the rate of its three and five year fixed rate mortgages, including its member only option, as well as cutting its two year discount tracker.
Effect of Lehman Brothers' collapse on UK mortgage market
Commenting on the effect of Lehman Brothers' collapse on the UK mortgage market, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Lehman's collapse is a blow to the mortgage market.
Barclays announces rate cuts to mortgages
Woolwich is cutting rates on both fixed and lifetime tracker mortgages, and introducing a competitive new lending tier at 75% loan to value.
How Lehman Brothers fall out will affect UK mortgage market
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "It is not just in America where the fallout from the Lehman Brothers bankruptcy will be felt: it will likely have an impact on the UK mortgage market.
Abbey cuts rates for customers with smaller deposits
Abbey is cutting rates by 0.6 per cent on its mortgages for customers with a 15 per cent deposit, as well as introducing five new deals to this range. It is also reducing fees on these products by up to £1,000, so the 85 per cent LTV range - which is available for borrowing of up to £550,000
North East law firm forms alliance with leading IFA broker
Gordon Brown Associates, one of the North East's fastest growing law firms, has been selected to form a strategic Alliance with one of the country's leading independent financial advice brokers.
Nationwide cuts price of selected fixed rate and tracker deals
Nationwide Building Society has announced the following changes to its mortgage product range, which will be effective from Friday 12 September:
Mortgage postcode lottery
Michelle Slade, analyst at Moneyfacts.co.uk comments: "Borrowers in the Midlands have wider access to a higher number of mortgage products than anyone else in the UK, with those living in the Leicestershire having the widest choice.
RICS: CML July mortgage lending data
Commenting on the CML mortgage lending data: "The latest figures from the CML highlight the very real problems facing first-time buyers trying to get on the housing ladder at the present time.
Blunkett urges older people to use equity release
Dean Mirfin, Business Development Director of independent equity release specialist Key Retirement Solutions, comments on David Blunkett's call for older people to use equity release schemes to fund their care, at the Counsel and Care's annual Graham Lecture on the future of long-term care for the elderly.
Tighter lending criteria and falling house prices discourage FTBs
Remortgaging rose and lending for house purchase held steady in July, by comparison with June, although loans to first-time buyers continued to decline according to the latest survey from the Council of Mortgage Lenders.
Equity release market strength is ongoing
The continued strength of the equity release sector is likely to continue throughout Quarter 3 and on to the end of the year, says home reversion plan specialist Bridgewater Equity Release.