Mortgages
Credit Issues launches specialist legal department
Credit Issues has launched a specialist legal department handling cases on behalf of property developers and professional landlords against bridging/property finance firms who substantially inflate the size of the debt by increasing the redemption fee and doubling the monthly interest charge when the borrower falls into default.
Chelsea launches 10 year fixed rate mortgage
Chelsea Building Society has launched a brand new 10 year fixed rate mortgage. The mortgage offers an interest rate of 4.59 per cent (5.1 per cent APR), fixed until 1 April 2019. After this time the rate will revert to Chelsea's standard variable rate for the rest of the mortgage period, currently 5.79 per cent.
No one will lend to us - or will they?!
Many of Britain's would-be borrowers may wrongly assume they are excluded from the mortgage market by the extent of lenders' tougher criteria, according to research by professional advice website Unbiased.co.uk.
Yorkshire Bank extends fee free mortgage offer
Yorkshire Bank has extended its fee free mortgage offer until Friday 27th February 2009. The Bank is waiving arrangement fees for new customers looking to re-mortgage on a range of its fixed rate, offset and flexible payment mortgages for a limited time.
Clydesdale Bank extends fee free mortgage offer
Clydesdale Bank has extended its fee free mortgage offer until Friday 27th February 2009. The Bank is waiving arrangement fees for new customers looking to re-mortgage on a range of its fixed rate, offset and flexible payment mortgages for a limited time.
Simple steps for mortgage troubles
Over half a million people will fall behind with their mortgage payments this year and the worst thing they could do is ignore their problems and hope for the best.
Borrowers only seeing a third of base rate cuts
The latest 0.50 percentage point cut in the Bank of England is having little impact on the mortgage rates being offered.
Woolwich cuts costs of fixed rate mortgages
Woolwich, the lending arm of Barclays, has cut the cost of many of its fixed mortgages enabling customers to take advantage of rates below four per cent fixed for two, three or four years.
Legal & General launches exclusive 2 year fixed rate with Platform
Legal & General Mortgage Club has launched an exclusive two-year fixed rate at 3.79% for LGPSL appointed representatives only, provided by Platform.
Would-be first time buyers turning to rental market
58% of first time buyers were unable to get a mortgage through their broker in the final three months of 2008 according to IMLA's latest intermediary survey.
L&G partners with BuildLoan for self-build and renovation finance
Legal & General Mortgage Club has added BuildLoan to its expanding proposition to offer members access to self-build and renovation finance.
Nationwide cuts the price of fixed rate mortgage deals
Nationwide Building Society has announced that it is cutting the price of its fixed rate mortgage deals by up to 0.20%. With effect from 17 February, the Society will reduce its two, three and five year fixed rates for new borrowers, remortgagors and existing borrowers who are switching at the end of their current deal.
Mortgages go back down the time tunnel
Commenting on last year having the lowest number of house purchase for 34 years, Louise Cuming, head of mortgages at moneysupermarket.com, said: "The fact that only 516,000 mortgages were taken out to buy homes last year clearly shows how ineffective the most recent rate cuts have been in stimulating the housing market.
The Co-operative Bank to cut its mortgage SVR by 0.5%
Following the recent reduction in the Bank of England's Base Rate, The Co-operative Bank will be passing on the full interest rate cut to its mortgage customers by reducing its mortgage standard variable rate (SVR) by 0.5 percentage points to 4.24% from 1 March 2009.
21% of UK mortgage holders at risk of negative equity
Research from Fairinvestment.co.uk has found that 21 per cent of UK mortgage holders borrowed a mortgage Loan to Value (LTV) of 90 per cent or more - potentially putting them at risk of negative equity.