Mortgages
Scottish mortgage market begins to stabilise
New data from the Council of Mortgage lenders shows lending activity in Scotland began to stabilise in the second quarter, mirroring the trend seen in the UK more widely.
Mortgage fees falling
Following the news that First Direct is to reduce the arrangement fees for all offset mortgage products, analysis from moneysupermarket.com has found that arrangement fees across all fixed and tracker mortgages have fallen by around 25 per cent over the last year.
Demand for whole of market mortgage advice
Today's continually changing mortgage market, has led to an increased need for whole of market mortgage advice for borrowers.
Mortgage advisers show small backward step in confidence
Stephen Smith, Legal & General's Director of Housing said: "Confidence had been relatively stable in the first half of this year but has now taken a small dip.
Fixed rate mortgage margins increase again
Mortgage lenders are showing continuing reluctance to reduce the cost of fixed rate mortgages, despite around a 30 basis point reduction in the cost of funding on the swap rates market.
Mortgage approvals increase in July
The July figures from the British Bankers’ Association (BBA) show increases in the number of mortgage approvals and the amount of new lending, though this was below seasonal expectations.
Leeds new 5-year fixed rate mortgages up to 85% LTV
Leeds Building Society has launched a new highly competitive 5-year fixed rate mortgage available from only 5.35%. Furthermore, there is no higher lending charge, a fixed fee and 10% capital repayments are allowed each year, without penalty.
Warning to borrowers on interest only mortgages
Lenders have severely restricted access to interest only mortgages, however research from moneysupermarket.com indicates 23 per cent of mortgage holders are currently only paying off the interest on their mortgage.
AMI cautions against new mortgage market regulation
The Association of Mortgage Intermediaries (AMI) has today urged caution as the Financial Services Authority (FSA) considers introducing new mortgage regulation.
Gross mortgage lending up 26% in July
Gross mortgage lending totalled an estimated £16 billion in July, a 26% increase from £12.7 billion in June but down 36% from £24.9 billion in July 2008, according to new data from the Council of Mortgage Lenders.
Get the best deal in the low rate mortgage environment
The average mortgage rate for new borrowers has fallen 1.3 per cent over the past 12 months to 5.12 per cent, but in this low rate environment does this constitute a good deal for consumers?
Mortgage approvals and house prices both rise in July
Data released this month by The Royal Institute of Chartered Surveyors and the property specialists Rightmove.co .uk showed upward movements in both the number of home loan approvals and the prices of property put on the market
Mortgage borrowers stay on lenders standard variable rate
Almost a third (27%) of homeowners are now staying on their lender's standard variable rate (SVR) according to new research from Unbiased.co.uk, the professional advice website.
New Flexx mortgage deals from The Coventry
The Coventry is refreshing its mortgage range including launching two new competitive Flexx mortgages for the residential market - combining a range of flexible features with low fees and an attractive rate of interest.
Landlords still need mortgage funding support
Nigel Terrington, chief executive of The Paragon Group of Companies, comments on latest buy-to-let lending and arrears figures from the Council of Mortgage Lenders: ‘Today's arrears figures demonstrate the robust credit quality of buy-to-let lending and the strong performance of landlords, even in a recessionary environment.