Mortgages
Calls for further Government action to help first time buyers
The Bank of England has decided to keep interest rates at 0.5%. In response the Association of Mortgage Intermediaries (AMI) has called for further Government action to aid consumers.
moneysupermarket.com: HSBC Mortgage Rate Matcher
Commenting on the new HSBC Mortgage Rate Matcher, Louise Cuming, head of mortgages at moneysupermarket.com, said; "Again HSBC is leading from the front.
Over a million mortgage holders due to lose out
Banks are urged to stop profiteering - as they look to make an extra £20.1 million pounds per month from unsuspecting mortgage customers who are coming off fixed, discounted, tracker and capped rate deals and moving onto standard variable rates, according to Moneyextra.com.
This month Mervyn King achieves his aim of being boring
"Today's decision by the MPC to leave Bank Rate and the Quantitative Easing programme unchanged was widely expected but next month the committee will have to consider whether to utilise the final £25bn The Chancellor has authorised for Quantitative Easing", comments Ray Boulger of leading UK mortgage broker John Charcol.
HSBC'S ‘Rate Matcher' mortgage is back
From Monday 8 June 2009, HSBC is reintroducing its hugely successful Rate Matcher mortgage offer. HSBC is offering to match or beat existing mortgage rates as low as 2.49 per cent, and fix them for up to five years.
Brokers expect increase in FTB and home mover business
Brokers expect to handle slightly more business for first time buyers and home movers over the next two months - the first time they have forecasted positive growth since the question was first asked 18 months ago in the IMLA survey of mortgage intermediaries.
Tide begins to turn towards competitive fixed rate mortgages
Demand for variable mortgage products has almost halved since the start of the year according to new research from Abbey Mortgages.
Mortgage lenders fail to pass on base rate cuts
Whilst the Bank of England has slashed interest rates by 4.5 percentage points since October, taking the base rate from 5.0 per cent to 0.5 per cent, mortgage lenders have failed to pass the cuts on in full to their existing customers, despite the Government urging them to do so.
CML: April Bank of England lending data
Commenting on today's lending data from the Bank of England, CML economist Paul Samter observed: "House purchase approvals continued to edge up in April, to 43,000 in the month on a seasonally adjusted basis.
RICS: April Bank of England mortgage approvals
Commenting on the Bank of England mortgage approval data, Simon Rubinsohn, RICS chief economist says: "Data released this morning by the Bank of England shows that the number of mortgages approved for house purchase rose again in May.
Mortgage approvals up in April
The increase in total net lending to individuals in April (£1.3 billion) was higher than the March increase (£0.7 billion) but below the previous six-month average, according to the Bank of England (BoE).
Building society lending stabilises
Gross mortgage lending by building societies was £1,551 million in April 2009, compared to £1,571 million in March, and £3,921 million in April 2008.
Leeds launches 2-year fixed rate mortgage at 3.40%
Leeds Building Society has launched a new 2-year fixed rate mortgage at 3.40%. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.
Two year fixed rate mortgages deals lose favour
The balance has tipped in favour of longer term fixed rates. 56% of fixed rates taken out in May from the national brokers Mortgageforce are 3 year or longer deals.
New 3 year tracker mortgage from The Co-operative Bank
The Co-operative Bank (LON:CPBB) is launching a new market leading 3 year tracker mortgage at a rate of 2.39%. The new mortgage available from Wednesday 27th May and offers a more generous LTV than most competitors' lowest prices products at up to 75%.