Mortgages
Mortgage lending remains subdued
Gross lending by the 52 UK building societies in August 2009 was £1.5 billion, and building societies' approvals totalled £1.3 billion in August 2009.
BBA explains how mortgage costs are calculated
The economic indicators of the easy-credit era have less influence on the cost of high street mortgages today than they had in the past, the BBA explains in a factsheet.
Leeds launches new tracker and fixed rate mortgages
Leeds Building Society has launched new highly competitive 2-year base rate tracker (BRT) mortgages from as little as 3.20%, together with a new 2-year non locked in fixed rate mortgage at only 4.60%.
New discounted variable mortgages from Clydesdale
Clydesdale and Yorkshire Banks are set to launch a new range of competitive mortgage products on Friday, 25 September 2009.
Fixed rate mortgages become a minority choice
With fixed rate mortgages stubbornly refusing to fall much in price, variable rates continued to be flavour of the month in August, according to the John Charcol Index. Less than half of borrowers (41.9%) chose a fixed rate in August, the lowest number since December last year.
UK mortgage lending increases
Gross mortgage lending in August was similar to recent months, whilst net mortgage lending returned to trend after dipping in July, according to the British Bankers’ Association (BBA).
Base rate crossing LIBOR
Commenting on the convergence of Libor and the Base Rate, Hannah-Mercedes Skenfield, mortgage spokesperson at moneysupermarket.com, said;
Britain's wasted mortgage years
More than half (53%) of borrowers who say they are on a tracker mortgage are still not taking advantage of historic low interest rates to overpay on their mortgage, suggests research by Unbiased.co.uk.
Fewer options for first time buyers
Risk remains the overriding factor in setting mortgage rates, with competition amongst lenders continuing to take a back seat, according to Moneyfacts.co.uk.
Professional landlords face mortgage maze
Professional landlords are reporting that despite an increase in the availability of credit in the wider mortgage market, it is becoming even harder to source buy-to-let mortgage finance.
Mortgage lending falls in August
Gross mortgage lending totalled an estimated £12.6 billion in August, according to the Council of Mortgage Lenders. This represents a decline of 13% from July's revised total of £14.5 billion, but a seasonal fall in lending activity in August is to be expected.
first direct offer most flexible offset mortgages
first direct are the only lender offering a fixed rate offset allowing customers to make unlimited overpayments and maintain access to them say Moneyfacts.
HSBC 1.99% mortgage deal doubles consumer interest
Since the bank launched the discounted variable mortgage on 1st September, online traffic to hsbc.co.uk's mortgage area has doubled and call volumes have increased by 78% compared with July and August.
Legal & General Mortgage Club goes large
Legal & General Mortgage Club has launched a high net worth lending service to allow brokers to source funding up to £50 million for their clients.
Consumers urged not to be drawn in by headline rates
Commenting on the launch of Halifax's 2.99 per cent two year fixed rate mortgage and Woolwich's 1.98 per cent tracker mortgage, Hannah-Mercedes Skenfield, mortgage spokesperson at moneysupermarket.com, said;