Mortgages
LIFT mortgages may lift the market
The Low Cost Initiative for First Time Buyers is proving an attractive option for some first time buyers – and is bringing more activity to the housing market – at least that is the view of Caesar and Howie property experts.
Mortgage famine for high net worth borrowers
Borrowers looking for mortgages in the £1 million plus bracket are finding lean pickings from lenders, according to wealth manager HFM Columbus.
New borrowers face a week of rate conundrums
The consistently upward trend of new borrowers taking fixed rates has faltered this week, as borrowers respond to mortgage price increases of around 0.6% on fixed rates, and a cut of up to 0.3% to many trackers.
Almost 90% of borrowers fixing their mortgage rate
Legal & General's sixth report in the ‘Mortgage Purchase Index' series analyses trends from thousands of mortgage applications made in the last quarter through Legal & General's Mortgage Club.
Mortgage approvals continue to rise
The banks' net mortgage lending of £2.3bn was the weakest monthly rise since early 2001, although mortgage approvals continue to increase, according to the British Bankers’ Association (BBA).
Shelter warns of second arrears and repossessions wave
Housing charity Shelter has warned the Government and mortgage lenders against complacency - and called on them to start preparing for a second wave of arrears and repossessions that could hit the UK within the next two years.
Clampdown on poor mortgage arrears handling
The latest review from the Financial Services Authority (FSA) has found continued weaknesses in the way specialist lending firms and third party administrators are handling mortgage arrears and repossessions.
moneysupermarket.com: Mortgage rate changes
Commenting on the recent spate of mortgage rate changes, Louise Cuming, head of mortgages at moneysupermarket.com, said: "There has been a flurry of activity in the mortgage market, but unfortunately mostly to the detriment of borrowers.
First time buyers still not welcome
Since January 2007 the number of mortgage products available at 90 per cent loan to value (LTV) has fallen by 97 per cent. Figures from moneysupermarket.com show just 102 mortgage products are currently available at 90 per cent LTV compared to 3,148 such products two and a half years ago.
Fix now or forever hold your peace
Fixed rate mortgages have been falling for nearly two years, but moneysupermarket.com warns they are about to start creeping up again.
L&G Mortgage Club expands again with commercial loans
Legal & General Mortgage Club has expanded its commercial loans service to appointed representatives of the mortgage network (Legal & General Partnership Services Limited) and extended that service to directly authorised brokers.
Increased confidence amongst mortgage advisers
Stephen Smith, Legal & General's Director of Housing said: "Our mortgage advisers are having a better quarter because they haven't been this confident since we started the index at the beginning of last year.
Fixed rate mortgages set for imminent increase
Ray Boulger of leading UK mortgage broker John Charcol said, "Yesterday we saw another sharp rise in swap rates, following closely on from other recent increases.
Average mortgage rates in limbo after divorce from Libor
Despite the Base Rate continuing to hold at 0.5 per cent, providers are increasing average mortgage rates, and the margin above the Libor rate is rising, proving that the Bank of England is increasingly toothless when it comes to regulating the cost of mortgages, with lenders increasing profit margins at the expense of their customers.
Britannia re-introduces 90% LTV option across mortgage range
Available from next week, borrowers can take their pick of two, three, five, ten and 15 year fixed-rate deals with a choice of three LTV bands (up to 60%, up to 75% and up to 90%).