Mortgage News
Borrowers face rejected applications
The mortgage intermediary market has never been as important to consumers, reveals new research by GE Money Home Lending, one of the UK's leading special lenders.
RICS: CML July mortgage lending data
Commenting on CML gross mortgage lending data, Oliver Gilmartin, RICS senior economist said: "The recent improvement in the monthly gross lending could offer some encouragement in what are typically slower summer months.
Abbey cuts rates on fixed and flexible deals
From Thursday, (21 August) Abbey is reducing the rate on its two and three year fixed rate mortgages by up to 0.25 per cent.
Gross mortgage lending subdued in July
Gross mortgage lending totalled an estimated £24.8 billion in July, up 5% from June and down 27% from July a year ago, according to the Council of Mortgage Lenders.
Mortgage swings and roundabouts
Over the past year we have seen a shift in the way lenders source their profits from rates and fees.
RBS & NatWest launch exclusive fixed & tracker rates
RBS and NatWest have launched a brand new range of fixed and tracker rate mortgage deals, exclusively for existing mortgage customers.
Mortgage war is 'great news'
According to The Times, the UK's two biggest mortgage lenders, Halifax and Abbey, have entered a price war with each other to attract new mortgage customers, marking the first instance where the two lenders have aggressively gone to war for new borrowers.
AfI expands exclusive range
New research from Abbey for Intermediaries (AfI) shows that the intermediary mortgage market has seen around 57 per cent fall in the number of lenders offering exclusive products since last year.
moneysupermarket.com: Ministry of Justice repossession figures
Commenting on the Ministry of Justice repossession figures, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Sadly these figures come as no surprise. The rising cost of borrowing and tightening of lender criteria was always going to hit the most vulnerable borrowers hardest and fastest.
Newcastle Building Society launches new mortgage deals
Newcastle Building Society has bucked the trend and announced the launch of 20 new market-leading products, three of which are best buys, with competitive rates starting at 5.65%.
A borrower's survival guide
Household finances have been badly stretched in the past year as the cost of energy has increased by 17% and the cost of food by 12%. And the credit crunch means that the cost of new mortgages has increased, there are fewer mortgages available to choose from, and they are more difficult to obtain.
Just Retirement removes fees on equity release range
Just Retirement, the equity release specialist, has announced the removal of up-front fees for its range of equity release mortgages, effective from 14 August 2008 and lasting until 31 December 2008.
Credit crunch or confidence crunch?
New research from HSBC has found that 98% of potential housebuyers have no problem arranging a mortgage, but the home buying market is slowing sharply because people expect house prices to fall further and are not confident in their ability to fund a new property as the cost of living, including mortgages rises.
Standard Variable Rate important factor for borrowers
Mortgage borrowers whose deals are coming to an end will spend more time shopping around and will be more interested in rates and fees than they were a year ago, according to research by Nationwide Building Society.
Zurich enhances mortgage and family protection proposition
Zurich is enhancing its protection proposition by introducing several new features designed to provide customers with greater choice and flexibility.