Mortgage News
Brokers expect mortgage market to shrink over next year
The most recent intermediary survey conducted by IMLA reveals that brokers anticipate that mortgage volumes will contract slightly over the coming 12 months, while just under half expect house prices will fall.
Borrowers rewarded for making energy-efficient improvements
A report published by British Gas and the IPPR following the recent BG “Green Streets” initiative recommends “the creation of new green mortgage packages by banks and energy companies to pay for the installation of energy saving technology”.
Abbey's mortgage dominance
Commenting on Abbey's new mortgage dominance, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Abbey overtaking HBOS as Britain's mortgage leader continues the theme of 2008 being the year of new ‘movers and shakers' in the mortgage industry.
Borrowers baffled by changes to mortgage products
Continual changes to mortgage rates and products are baffling borrowers who risk making the wrong decision because of an information overload, says independent broker My Mortgage Direct.
Mortgage lending continues to slow
The increase in total net lending to individuals in June (£4.0 billion) was below the increase in May and the previous six-month average, according to figures from the Bank of England (BoE).
Over a third of Brits think they will never be homeowners
The spiralling cost of living and scarcity of affordable mortgages has led to millions of people abandoning the idea of home ownership.
10 lucky borrowers could have their mortgage paid for a year
Nationwide Building Society is giving mortgage customers the chance to be "mortgage free" for a year (up to a maximum of £10,000).
LV= Flexible Lifetime Mortgage now available on Assureweb
Retirement specialist LV= has announced that its new equity release product - Flexible Lifetime Mortgage - is now available online through a partnership with Assureweb.
Halifax makes further reductions to mortgage range
Halifax, the UK's largest mortgage lender, has announced a further reduction to a selection of its mortgage products.
Yorkshire Building Society reduces mortgage rates
From today, Yorkshire Building Society is reducing the rates on many of its fixed rate mortgages by up to 0.50% and launching a new low fixed rate deal with a higher fee.
Mortgage approvals hit new low
June’s mortgage lending, rising by £3.8 billion, was weaker than in May. There was again a record low number of house purchase approvals, though levels of remortgaging were similar to the previous month, according to figures from the British Bankers’ Association (BBA).
New lender launch signals checkmate to the credit crunch
"Today's announcement by Checkmate Mortgages that it has obtained sufficient investment backing to allow it to launch as a new mortgage lender early next year is a superb achievement by Stephen Knight and his small team in this market.
FSA sets out its approach to tackle mortgage fraud
The Financial Services Authority (FSA) has set out its approach for tackling mortgage fraud, as part of the UK's wider response to the threat.
Mortgage fraudsters beware
The Council of Mortgage Lenders' efforts to tackle mortgage fraud have been recognised by the Financial Services Authority today, in a public letter which recognises the priority that the industry has given to fraud issues even in the current challenging market conditions.
Woolwich launches market leading fixed and tracker mortgages
Woolwich is cutting rates on its fixed rate mortgages by as much as 0.32 percentage points as lower SWAP rates continue to benefit the fixed rate market.